OREANDA-NEWS. April 25, 2012. Sviaz-Bank has developed a specialized nonpurpose consumer credit for servicemen at an interest rate starting at 12.9% per annum in rubles. Loans of up to 200,000 rubles can be issued for periods of up to five years, with minimum formalities to be met, reported the press-centre of Sviaz-Bank.  

Loans are made to servicemen signing on the mortgage buildup system, who have taken out mortgages from the Bank previously or who have a loan limit for the Voyennaya Ipoteka (Military Mortgage) product with the Bank.

Loans are issued in amounts starting from 30,000 rubles up for three months as a minimum loan period. No security is required for these loans.

A borrower has to produce his regular passport to apply for a loan.

“We keep up expanding our line of specialized products for servicemen, with the consumer credit program as its latest addition. This program is very simple to use for someone with a credit history at our Bank. For someone like this, the maximum possible loan amount is computed automatically, and no documents have to be turned in again. Time waste is cut out, and a very short time is needed for the lender to decide on giving the applicant a loan at a reduced rate,” said Maria Zenina, Director of Sviaz-Bank’s Retail Banking Products Department.