What is Representative example?

A representative example is a standard worked loan that a lender has to publish, so you can see what borrowing actually costs. It names the amount borrowed, the term, the instalment, the total you repay and the rate applied, which lets you compare a cheap monthly payment with an expensive one.

Addiko Bank Crna Gora's example is 40,000 EUR over 96 months, nominal rate 5.99%, effective rate 6.16%, monthly instalment 525.46 EUR, total payable 50,446.46 EUR. It shows both a nominal rate and an effective rate, and those two are not the same measure. Addiko Bank mKredit's example includes a total cost of credit, while ActivoBank's separates the interest from the stamp duty. Read every line, not just the monthly figure.