OREANDA-NEWS. April 10, 2013. Sviaz-Bank has made several borrower-friendly changes in its program of loans for the purchase of new and used foreign-made and domestically produced cars.

From now on, the minimum interest charged for the use of loan funds has been reduced to a low 9.9% per annum in rubles, provided that the down payment is over 40% of the loan issued for 12 months and 11.9% per annum for a period of 13 to 60months.

The borrower can pick out any car at any showroom accredited by the Bank, not necessarily an official dealer, in any region across Russia – more than 300showrooms in Moscow and elsewhere in Russia at present, their list being updated every day.

The maximum loan amount may reach 5 million rubles with a drawdown period of up to, and including, five years.

A loan may be taken out without a mandatory confirmation of income from employment, on the basis of a minimum package of documents.

The Bank may also include costs of the purchase of extra options and equipment for the car and payment of an insurance premium for the first year in the loan amount.