Financial services have to be advertised in a clear and understandable manner, and advertising must not contain false or incorrect information and/or information regarding the terms under which the consumer uses financial services which can mislead that user.
When advertising deposit and loan services and leasing operations where the advertising message indicates an interest rate or any figures relating to the price or income, the bank and the lessor must specify clearly and precisely by means of a representative example:
- the type of deposit/loan/leasing object;
- the level and variability of the annual nominal interest rate;
- the effective interest rate
- the currency in which the deposit/credit/leasing is agreed;
- the period for which the deposit/credit/leasing is agreed;
- the criteria for deposit/loan/leasing indexation;
- the total amount of deposit/loan; and
- all costs payable by the consumer.
In advertisements for leasing, in addition to the information referred to in the first paragraph, the lessor must also specify the following information:
- gross purchase value of the leasing object, the amount of up-front payment and the amount of net financing;
- number and amount of rental instalments, as well as the period in which instalments are due (monthly, quarterly, etc). When advertising a loan, overdraft, credit card or leasing with a nominal interest rate of 0%, all conditions under which the service is approved must be indicated.
When advertising, it is prohibited to use terms that credit, overdraft, credit card or leasing are marked free of charge or similar expressions if the approval of that service is conditioned by the conclusion of another contract or is conditioned by anything that represents a cost for user or presents any kind of obligation.
In electronic media, the advertising message must be broadcast for a duration that is sufficient for the average user to read or hear its content without interruption.
In the case of internet advertising which is done through images with or without sound or through sound, the advertising message must be broadcast for a duration that is sufficient for the average user to read or hear its content without interruption.
Texts containing advertising messages for Internet or electronic media, as well as print or open air advertisements must have the size and type of letters as determined by the Decision on closer conditions for advertising financial services, and must comply with the principles set out in this Decision.
It must be noted that a provider of financial services is obliged to submit to the National Bank of Serbia a semi-annual advertising plan, i.e. another document containing in particular, the data on financial services (products) whose advertising is planned during that year and the planned manner of advertising those services or products (in electronic media, printed media, through internet advertising, outdoor advertising, indoor advertising and / or direct advertising).
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