OREANDA-NEWS. May 18, 2011. Ukio bankas has reduced interest on consumer credits. After this change Ukio bankas interest on consumer credits has become one of the lowest in Lithuania. The Bank will offer its present clients the best terms and conditions for loans, reported the press-centre of Ukio Bankas.

At Ukio bankas clients can take a consumer loan the interest on which starts from 7 per cent if taken in euro and from 9 per cent if taken in litas.

“We are improving loan conditions with the aim of encouraging domestic consumption. We have made this step as we believe that the improved loan conditions will allow Lithuanian population to more positively look at their financial situation and to more bravely acquire things and services which are necessary for their life,” Gintaras Ugianskis, Ukio bankas Board Chairman, said.

As maintained by him, consumer loans have to become a stimulus for enlivening the consumer market which was stagnated by the crisis when people limited themselves to the most necessary purchases doubting their possibilities of assuming financial liabilities.

As emphasised by Mr. Ugianskis, by reducing interest on consumer loans Ukio bankas will focus on the Bank’s loyal clients. The lowest interest rate is set for those clients who have already used Ukio bankas services: have held Ukio bankas payment card, used the electronic banking system Eta bankas, placed a deposit, used a direct debit service, etc. A discount of 0.1 to 1 per cent is granted on each Ukio bankas service that is used by the client. For Ukio bankas loyal clients interest on consumer credit may decrease by 1.5 per cent reaching 7 per cent.

Ukio bankas extends loans for consumption purpose from LTL 1,000 to LTL 40,000 with the repayment period of 5 years.