OREANDA-NEWS. March 01, 2011. OJSC Kreditprombank again improved lending terms on purchase of new automobiles for retail persons. Thus, downpayment on loan reduced to 20% of auto value, reported the press-centre of Kreditprombank.

Interest rate on loan for a period until 1 year makes 17% per annum, for a period until 3 years - 20%, for a period until 5 years - 20,9%. Hryvnia is loan currency, while maximum amount of loan equals to UAH 200 thousand. The bank does not require additional collateral: purchased automobile is loan security. In addition there are no monthly fees and penalties for early repayment. 

"Market of loans on auto purchase is dynamically developing and in fact it is the main “engine” of retail lending, – said Viktor Leonidov, the Chairman of Board of Kreditprombank. – Our auto lending program foresees conservative risk parameters, but loyal to customer price without extra costs and hidden fees. Moreover the bank reduced maximum time for consideration of borrower’s loan application".