OREANDA-NEWS. April 05, 2012. Sberbank of Russia will be holding a 2012 promotion through 31 August 2012, offering special mortgage lending conditions for purchases of finished homes or construction in progress (newly built houses), reported the press-centre of Sberbank:

initial installment – 20% of the value of the home to be purchased;

lending period – up to 30 years;

interest rate – 11% p.a. in rubles (following registration of mortgage).

Now the rate surcharge during construction of the property and up to registration of the mortgage has been decreased from 1.15%-3.75% p.a. in rubles to a single rate of 1% for any lending period and any initial installment.

“In its new promotion, Sberbank has tried to cater as much as possible for our clients’ wishes with respect to previous special offers by halving the initial installment and tripling the lending period”, comments Natalya Alymova, Head of the Retail Credit Department at Sberbank of Russia.