OREANDA-NEWS. September 30, 2009. OJSC Nordea Bank has cut down interest rates on rouble mortgage loans by 1.5 %. Today the Bank’s rates for these products are among the lowest on the market ranging between 14.5% and 19.5% per annum for different mortgage types, reported the press-centre of Nordea Bank.

The reduction has brought fixed rouble mortgage interest rates to 15.5%-19.5% per annum, floating rates to 14.5–18.5% in the first 12 months, combined rates to15–19% per annum in the first 60 months.

It was quite reasonable for the Bank to change rouble mortgage loan interest rates. The current conditions on the financial market – improvement of the inflation rate and the CB RF refinancing rate coupled with strengthening of the rouble against the dollar – enables us to create value for our customers by offering more favourable deals, says Andrey Maltsev, Deputy Chairman of the Management Board.

This has been the second mortgage interest rate reduction in Nordea Bank in the last four months. In June the Bank decreased US dollar mortgage rates by 2% and euro mortgage rates by 1%.

Nordea Bank offers a range of mortgage loans: Classic, Special-Purpose, No-Purpose and Mortgage Loan for Construction on a Shared Basis.