OREANDA-NEWS. August 25, 2008. BTA Bank improves terms of consumer loans secured by real estate, namely, “Million” and “Your Goal”. The loans are given for any consumer purposes, reported the press-centre of BTA Bank. 

The Million Programme is aimed at customers, who urgently need borrowed funds. According to the new term the approval of the Bank may be received within 3 days without officially confirming a customer’s income. The loan is given in any of the three currencies – USD, RUB, Euro, with the 5-year tenor. The amount of the loan may be up to 1 000 000 USD or its equivalent in rubles, euros, the interest rate being from 19% p.a. in rubles (20% - EUR, 23% - USD).

Moreover, borrowers may get a period of grace in redeeming the principal debt for 6 months paying only interest during that period. Early redemption is possible at any time without any charges. Lowering loan expenses is now possible by canceling the necessary insurance of the life of the borrower.

The Your Goal Programme is intended for those customers, who need to get a loan for a long term. When confirming the income, among other things, by a certificate in the form of the Bank, the loan is given for the period of up to 30 years under 15% p.a. for any currency. The loan is given in RUB and USD, the minimum loan term being 3 years. The amount of the loan is transferred onto the account of the borrower, there being no charge for conversion into cash.

Collateral for the loan of either Programmes may be a pledge of any kind of real estate the borrower owns: an apartment, a house, a land lot, commercial real estate, etc.

Both products may be used for mortgaging nonresidential rooms – the Bank gives loans for purchasing commercial real estate under the pledge of that real estate purchased.