OREANDA-NEWS. August 12, 2010.  Bank Standard has carried out optimization of car loan program conditions to make them more profitable.

The Bank informs that in accordance with the new conditions the maximum loan amount can now be up to AZN 40,000 and minimum initial installment was reduced to 25% of the car value.

"For comparison we can point out that other banks’ initial installment is 35-40% (except official dealers who sell new cars). Bank Standard’s interest rates on automobile loan start from 16% depending on the initial installment. In the market the average rate on new car loans is 19.5%,” it was reported.

In addition, the amount of insurance is added to the loan amount, and the customer actually pays only the initial fee and commission on loan.

The car loan program covers virtually all brands and models of cars, officially represented in the country. Within Bank’s car loan program it is possible to buy both new and used cars.

"In order to get a car loan from Bank Standard, the loan borrower is not required capital registration. Now loans are also given to customers of our Ganja, Lankaran and Guba branches,” the Bank said.

Bank Standard’s car loans offer a minimum package of documents and rapid registration.