OREANDA-NEWS. October 18, 2010. The Bank’s U-Balance lending initiative allows borrowers to refinance an outstanding balance on one or more unsecured credits taken out with other banks, reported the press-centre of Uniastrum.

Uniastrum customers can use the U-Balance program as a convenient way to pay off outstanding credit card balances and special or general-purpose ruble loans with other banks. Under the program, up to Rb 600,000 can be secured in the form of an overdraft facility placed on the customer’s card account.

U-Balance makes managing existing loan repayments easy and straightforward, cuts the size of monthly installments, helping to take the strain out of day-to-day budgeting. Among its other benefits, the program offers borrowers an opportunity to defer repayment of the principal loan amount for 3 months, as well as a grace period of 1 month, during which no interest is charged for credit used.

In order to qualify for a U-Balance loan, potential borrowers need to fill out an application form on the Uniastrum website, wait one minute for the reply, then call in at any Uniastrum Bank office, remembering to take along three documents: a Russian passport, the loan agreement with the issuing bank or a certified copy, and a statement showing details of the details of their outstanding balance. Applicants are also required to have a positive credit history and be up to date with payments on the credit they wish to refinance. Another condition is that the loan term agreed with the lending bank in question is no less than 3 months. The loan decision comes within 2 business days after submitting the required documents.

To find out more about the U-Balance credit program and fill out an application online, visit one of Uniastrum’s neighborhood banking centers or click on http://www.uniastrum.ru/personal/cards/ubalance/#requirements. Alternatively, call the Bank’s information center toll-free on 8-800-333-04-04.

“Our U-Balance lending program has been carefully put together by a team of specialists to take account of current customer requirements,” says Oleg Shvetsov, First Deputy Chairman of Uniastrum’s Management Board. Its competitive terms and the no-fuss payment options via the Bank’s numerous offices terminals make it easier for customers to handle several loans at one and the same time, helping them to save time and money.”