OREANDA-NEWS. September 12, 2014. Sviaz-Bank had over 61.7 billion rubles in its portfolio of retail loans, 46billion rubles of this amount in mortgages.

The Bank’s portfolio is structured in a way that traditional mortgages and military mortgages come first, followed by nonpurpose loans, car purchase loans, and collateral loans.

The Bank’s mortgage programs serve to fulfill two purposes – purchasing housing ready to move in and housing under construction at minimum interest rates of 9.5% and 11.8%, respectively.

This past June, Sviaz-Bank laid out new terms for traditional mortgages that simplify interest rate calculation as much as possible, and also make calculus more comprehensible to customers. From that time on, interest rate depends on the down payment only. Besides, the Bank does not charge commission for mortgage issue and execution of mortgage papers. Mortgages are issued for periods of three to thirty years.

Also in that month, Sviaz-Bank joined hands with the Morton Group of Companies to launch a Three-Year Discount on new housing purchases. A customer purchasing a share in construction from the Morton Group of Companies is eligible for an interest rate discount on his/her mortgage over the opening three years of the mortgage to a starting interest rate of 9.5% per annum.

Again past June, Sviaz-Bank rolled out a new My Car program of loans to be made to customers for the purchase of new or used motor vehicles in Category B weighing up to 3.5 tons against the security of vehicles purchased. The Bank fixed the starting interest rates under the program at 11.9% per annum in rubles, and extended the loan period to seven years, simplified the loan issue preliminaries, and slimmed the package of documents to be delivered together with a loan application. The Bank gives larger preferences – a discount starting at 0.5% – to employees of its partner companies.

The Bank’s broad regional coverage and presence of its branches in virtually all regions of the country make its consumer loan programs even more accessible to the general public and employees of public service institutions. For example, the minimum interest rate Sviaz-Bank charges on consumer loans to public service employees today starts at 12.9% per annum (on a loan taken out for one year).

The Bank considers building up its portfolio of retail loans to 70 billion rubles until the end of 2014.