OREANDA-NEWS. May 05, 2011. AMT BANK launched a new loan program for individuals – a no-purpose secured loan called Your Purpose in the amount of up to 9 mln rubles (or up to 300 ths US dollars) secured (under pledge) with an apartment in an apartment building. The program is valid in all 11 regions of the Bank’s presence, reported the press-centre of AMT BANK.

The Your Purpose loan is given with a 10-year tenor. The maximum proportion of the amount of the loan and the cost of an apartment is 50%. Thus, if the owner possesses an apartment costing 5 mln rubles, the maximum amount of the loan the Bank can give is 2.5 mln rubles. The interest rate under the new loan program is 12-13% per annum in US dollars and 16-17% per annum in rubles depending on how the borrower can confirm his/her income.

Those employees can become borrowers under the Your Purpose loan program, who can confirm their income with 2NDFL (personal income tax) certificate or under a form established by the Bank. Individual entrepreneurs and business owners possessing a stake of more than 25% in a firm’s capital can also borrow.