OREANDA-NEWS. October 20, 2011. Sviaz-Bank has shortened the list of documents needed for a car loan application to be accepted. The new Your Car Light program requires the borrower to produce just two documents – his/her passport and driver’s license – to be given a loan, reported the press-centre of Sviaz-Bank.

Sviaz-Bank’s new car purchase loan program gives its customers a chance to buy a new or second-hand car from any car manufacturer.

Under its new program, the Bank charges low interest rates starting at 13.5% per annum in rubles, requires a small down payment of 15% up, places no moratorium on, and charges no commission for, early repayment of loans. Loans have a ceiling of 5 million rubles and can be drawn down for up to five years.

Any extra documents certifying income and employment status qualify the borrower to an interest rate 1% to 2% below normal, depending on the size of the down payment made.

A car can be purchased on credit under the Vehicle Loan Program from any official dealer of the customer’s choice in any region of the Russian Federation. Applications for car loans are accepted by all Bank offices.

The full details of the renovated Vehicle Loan Program are available in the Vehicle Loan section.