OREANDA-NEWS. September 11, 2012. Sberbank has lowered its minimum downpayment required for receiving a car loan without confirmation of income and employment. From now on, getting a car loan at Sberbank has become even easier: With downpayment starting from 30% of a vehicle's value, you can obtain a decision on your loan application by providing only your passport and driving license (or any other document from the list posted at Sberbank's website). The loan application will be processed in no more than one day, reported the press-centre of Sberbank. 

The lowering of the minimum downpayment for receiving the loan with two documents will not have any impact on the loan interest rate. It will remain at the same level, one of the most attractive in the market.

"This product was launched in February and it immediately became popular with our customers. Each month, about 40% of borrowers use the opportunity to receive a car loan by providing only the documents that most people keep in their pockets", said Natalya Alymova, Director of the Retail Lending Department at Sberbank of Russia. "We decided to meet the needs of our customers and make this product even more affordable."

In the framework of its car loan programs, Sberbank is cooperating with more than 3,500 dealerships. Sberbank customers can receive a loan for new or used car of any brand with the opportunity to buy the vehicle from Sberbank's partners on special terms. The list of such partners is posted on the bank's website. Customers, who receive their salary in an account with Sberbank, can obtain a decision on their loan application within two hours by presenting only their passport.