OREANDA-NEWS. February 03, 2011. The Bank of Moscow has announced launch of a new car loan programme — Light Car Loan, making it possible to buy a car by submitting a minimum set of documents.

Under the programme, the loan application is considered within one working day and proof of the borrower’s income and employment are not required.

Loans of up to RUR 2 mln (or the equivalent in US Dollars or Euro, as the borrower wishes) are extended with an initial deposit of 30% of the cost of the vehicle. The loan is for a term of from six months to five years.

"In offering our client the new loan programme orientated on car purchase, we would like to draw attention to how simple it is to get a loan, irrespective of proof of income or employment, this making it one of the most progressive solutions in the retail loan market", comments Stanislav Stanek, Head of Retail Banking of the Bank of Moscow. "One of the advantage of this loan programme is that it takes only one day for the loan application to be considered."