OREANDA-NEWS. December 01, 2011. Sviaz-Bank participated in the 11th specialized exhibition, Russian Manufacturers and Supply of the Armed Forces, held at the Crocus Expo International Exhibition Center. The organizers of the event were given official assistance by the Russian Defense Ministry, the Federal Chamber of Commerce and Industry, the Moscow Government, and the Moscow Region Government, reported the press-centre of Sviaz-Bank.

Sviaz-Bank was among the exhibition sponsors and had its own display where servicemen could obtain professional consultation on mortgages and consumer credit and figure out themselves the cost of a loan and amount of monthly payments.

Sviaz-Bank is a partner of the Defense Ministry in the military mortgage program that was launched in March of this year. The Bank developed its Military Mortgage product until the loan amount rose to 2,200,000 rubles. Loans are made at a rate of 9.5% per annum in Russian rubles in the first year and 10.5% in the remaining years. A loan may be issued for a maximum period of 20years.

Since the program was launched, the Bank has issued 743 mortgages totaling more than 919million rubles to servicemen. This means that the Bank has helped over seven hundred families of Russian servicemen to improve their living conditions in just eight months. Until the end of this year, the Bank plans to bring the loan portfolio under its Military Mortgage program to 1billion rubles or over.