OREANDA-NEWS. July 13, 2009. UNIASTRUM BANK and the Nezavisimost Group of Companies launched a joint auto lending program “U-Auto Nezavisimost”, reported the press-centre of UNIASTRUM BANK.

The program will let the buyers buy cars very quickly on credit on favourable terms. The decision will be taken within one day and be valid for 91 days from the decision date. The program will be applied to all the range of cars to be offered to the Nezavisimost clients.

The loan will be granted for a period up to 5 years, interest rate from 16.5% p.a. The program specifies the right of the client to repay the debt partially or in full early without any early repayment fees. On the same lending conditions one can purchase a used car, with the period of use not exceeding 4 years on the loan disbursement date and not exceeding 7 years on the loan maturity date.

The launch of the new program will let the Nezavisimost Group of Companies increase the volume of sales and offer to its clients an affordable car loan with a minimum down payment.

In 2008 UNIASTRUM BANK issued in car loans the amount exceeding RUR 3.8 bln. As of January 01, 2009, the portfolio of car loans of the bank exceeded RUR 5.8 bln. According to information supplied by RosBusinessConsulting, UNIASTRUM BANK was included, on the basis of the 2008 results, in the top-20 list of Russian banks in the amount of issued car loans and was ranked 17th.

In 1Q2009 UNIASTRUM BANK issued 1,349 car loans amounting to RUR 761,065,326. As of June 01, 2009, the amount of the auto lending portfolio exceeded RUR 6.2 bln.