OREANDA-NEWS. July 25, 2014. Sberbank launched a new product for participants of the savings & mortgage system of housing provision for servicemen.

The new product is “Military mortgage for the purchase of housing that is under construction.”

The “Military mortgage for the purchase of housing that is under construction” provides credit up to RUB 2.4 mln for the purchase of apartments in approved new developments where 13 Sberbank Regional Banks operate (Moskovsky, Volgo-Vyatsky, Zapadno-Uralsky, Zapadno-Sibirsky, Severo-Zapadny, Sibirsky, Uralsky, Yugo-Zapadny, Vostochno-Sibirsky, Severny, Srednerussky, Severo-Kavkazsky and Tsentralno-Chernozemny).

This product offers an interest rate as low as 9.5% (rubles) which is available to clients who apply for a mortgage for the purchase of housing at any of 230 approved developments that are under construction.

In 2014, Sberbank will launch this product at all of its Regional Banks.

There are no commissions on loans for individuals.

“The launch of this new product for servicemen is part of the continuing development of retail lending which is one of Sberbank’s priority client categories,” said Director of the Retail Lending Division, Sberbank of Russia, Natalia Alimova.