OREANDA-NEWS. March 23, 2010. Within the scope of the programme for modernising retail crediting, which was initiated in the autumn of 2009, the Bank of Moscow has introduced a new product — credit for purchasing Russian-made cars included on the approved list of the Ministry of Industry and Trade of the Russian Federation, under the state programme for subsidised crediting.

The credits are extended in rubles for a period of 3 years given an initial deposit of at least 15% of the value of the vehicle, which should not exceed 600 thousand rubles. The minimum sum of the credit is 50 thousand rubles and the maximum — 510 thousand rubles. The interest rate on the credit depends on the Bank of Russia refinancing rate, which is currently 9.33%.

The other parameters of the product and requirements on borrowers comply with the standard auto-crediting programme of the Bank of Moscow.