OREANDA-NEWS. July 06, 2011. The Refinancing Program will help to get a reduced interest rate on mortgage loans issued by other bank and lower monthly payments, as well as to change the currency and maturity of the loan, reported the press-centre of Raiffeisenbank.

The rates offered under this program range from 11.75% on RUR and from 9% on USD loans upon the collateral being registered in favour of Raiffeisenbank, and from 12.75% on RUR and from 10% on USD loans before the registration. The maximum eligible loan is 26 mn roubles or 900 thsnd USD, repayable over 25 years. No refinancing fee is charged under the program.

"Due to a healthy economic growth mortgage rates are becoming more attractive. As a result, there is a growing number of people willing to improve their borrowing terms", says Andrey Stapanenko, member of the management board of ZAO Raiffeisenbank in charge of retail PI business. "The new mortgage refinancing program will help borrowers to transfer their loans to Raiffeisenbank and enjoy lower mortgage repayment costs on loans issued by other banks".

Raiffeisenbank offers a wide choice of mortgage programmes, providing finance for purchase of a new flat before its construction, for purchase of a secondary-market property, and home equity loans.