OREANDA-NEWS. November 18, 2009. Uniastrum clients can take advantage of the Bank’s innovative U-Auto Jet option, reported the press-centre of Uniastrum.

Loans are issued for up to a five-year period, with ruble interest rates starting at 14% APR. Under the program, Uniastrum customers can buy the vehicle of their choice on easy credit terms that won’t place a strain on their budget. Applications are processed within just one business day and, once approved, borrowers have 91 days to access the loan. The program covers all brands and models, both new vehicles and second-hand cars whose service life does not exceed 4 years at the time the loan is activated, or 7 years by the time the credit term expires.

A notable feature and main competitive advantage of the U-Auto Jet program is the lower minimum down payment of 15% for vehicles costing up to Rb 600,000. The program allows the borrower to opt for full or partial early settlement at no extra charge.

In 2008 Uniastrum Bank issued more than Rb 3.8 bn in auto loans. As of February 20, 2009, its auto finance portfolio topped Rb 6 bn, climbing to Rb 6.65 bn as of October 1, 2009, a jump of 14.34% on the year-earlier showing. According to RosBusinessConsulting news agency, based on it H109 performance, Uniastrum is now one of Russia’s Top-10 leading auto finance lenders.
“Launching this new program will enable us to offer clients quick and affordable auto credit at minimum interest,” says Oleg Meshchaninov, Head of Uniastrum’s Auto Loan Department. “Our task is to make auto finance not only more affordable, but also to make obtaining it and paying for it all the more easier. For the record, it is worth pointing out that Uniastrum’s auto loan schemes are among the most competitive on the market.”