VTB Bank (Azerbaijan) updates credit terms

Baku. 9 July. REPORT.AZ/ VTB Bank (Azerbaijan) has updated conditions of the product "Microcredit". Thus, the maximum amount of loan increased from 20 thousand to 25 thousand manats (equivalent in other foreign currencies: US dollar, Euro and Russian ruble). The loan term is 3 years.

Report informs referring to the VTB Bank (Azerbaijan), the bank also introduced a maximum accrual gradation for categories of customers. Thus, customers are divided into three categories: a positive credit history for more than 24 months, over 12 months, new customers of the bank.

The interest rate varies depending on the loan amount. When the amount is up to 10 thousand manats (equivalent in USD and EUR), the interest rate is 23% per annum. If the loan amount is higher, the bank offers a credit of 20% per annum. When the amount up to 10 thousand manats in the ruble equivalent interest rate makes 30%, if the amount is higher than 10 thousand manats- by 27%.

Under the new terms, besides the real estate, vehicles, goods in turnover, equipment, bank guarantees of other banks and deposit funds, now collateral for the loan can be a home and property of the client. Term of giving the loan is 1 to 2 days.