OREANDA-NEWS. April 06, 2012. Members of the public will be able to obtain information on their credit histories, as collected and collated by NBCH, at 32 Uniastrum banking centers in Moscow and the Moscow region. The service is available to all Russian nationals on submission of a passport or ID and takes only a matter of minutes. It is anticipated that before long this credit report facility will be available at all Bank branches nationwide. For more details and to find out the addresses of Uniastrum outlets offering the new service, visit http://www.uniastrum.ru/personal/crediting/history/, reported the press-centre of Uniastrum.   

A credit history, or credit report, is information on a borrower which banks pass to credit history bureaus that includes details such as the date on which a loan was issued, the amount involved, the repayment date, and any payments outstanding. A customer’s credit report could prove an important factor underpinning a bank’s decision to issue a loan or not and also determine how much interest is charged. Borrowers with a positive credit history applying for a Uniastrum ruble-denominated Access loan, for example, can expect to pay a minimum rate of just 10.5% APR*.

“Figures show that an increasing number of borrowers are keen to study their credit histories,” notes NBCH CEO Alexander Vikulin with reference to the launch of the new collaborative project. “NBCH and its partners are committed to ensuring the easiest possible access to information”.

“For banks, a positive credit history speaks volumes about a borrower’s reliability and his or her financial self-discipline, whereas it gives customers an opportunity to take out a loan on the best available terms and conditions,” explains Vasily Kuznetsov, Deputy Chairman of Uniastrum’s Management Board. “Borrowers familiar with their credit history have a better idea of how a bank is likely to rate them in terms of reliability and their ability to meet payments, which, needless to say, makes for spositive relationships between credit institutions and their clients.”

The National Bureau of Credit Histories (NBCH JSC) is Russia’s biggest credit reference agency. Established in 2005, the Bureau’s shareholders include leading commercial banks and international companies CRIF and TransUnion. NBCH’s core focus is the creation of a unified facility for storing and processing information that credit institutions require in order to take sound loan decisions. As of year-start 2012, the Bureau collected and collated information from over 1,000 of the country’s credit institutions. NBCH provides the Russian market with a large number of sophisticated IT solutions in areas such as risk monitoring, risk assessment, and forecast analysis.

* Loans range from Rb 10,000 to Rb 600,000, loan terms from 1-12, 13-24, 25-36, 37-60 months. Interest rates (APR) on secured retail loans are: 1-12 months 10.5%, 11.7%, 12.9%, 14.1%, 15.3%, 16.5%; 13 – 24 months 13.5 %, 14.7%, 15.9%, 17.1%, 18.3%, 19.5%; 25 – 36 months 17.5 %, 18.7%, 19.9%, 21.1%, 22.3%; 23.5%, 24.9%; 37 – 60 months* 18.5 %, 19.7%, 20.9%, 22.1%, 23.3%, 24.5%, 25.9%. Interest rates (APR) on unsecured retail loans are: 1-12 months 14.5 %, 15.7%, 16.9%, 18.1%, 19.3%, 20.5%; 13 – 24 months 16.5 %, 17.7%, 18.9%, 20.1%, 21.3%, 22.5%; 25 – 36 months 19.5 %, 20.7%, 21.9%, 23.1%, 24.3%; 25.5%, 26.9%; 37 – 60 months* 20.5 %, 21.7%, 22.9%, 24.1%, 25.3%, 26.5%, 27.9%. The arrangement fee is 2% of the principal amount and payable on the day the loan is issued. For borrowers aged 60-65 credit is issued on condition that he or she takes out a life insurance policy. Said insurance must be taken out with a company meeting the requirements of Uniastrum Bank in respect of insurance organizations. Interest charged on the loan increases in proportion to the cost of the insurance. A penalty fee for late repayment of the loan and of the monthly interest payments is payable at a rate of 1% for each day of arrears, based on the total debt outstanding. The credit facility, inclusive of the loan amount, the loan term and the interest rate charged, is determined solely and exclusively by CB UNIASTRUM BANK LLC depending on individual borrower parameters, as well as on the loan amounts and loan terms specified by the Bank. A customer may be refused credit without a reason being given. The loan is issued by transfer of the credited funds to the card of the borrower; in cases where cash is issued a fee may be charged commensurate with the tariffs set by the owner of the terminal, the ATM, or the bank servicing the transaction. The loan may be repaid via terminals owned by Bank partner organizations, for which a fee may be payable commensurate with the tariffs charged by the owner of the terminal, the ATM, or the bank servicing the transaction. CB UNIASTRUM BANK LLC. CBR General Banking License No. 2771.

Credit is issued to customers with positive credit histories at CB UNIASTRUM BANK LLC; employees of organizations partnering CB UNIASTRUM BANK LLC on corporate sales programs; employees of organizations with a positive credit history credited by CB UNIASTRUM BANK LLC; customers holding payroll cards issued by CB UNIASTRUM BANK LLC.