OREANDA-NEWS. October 03, 2014. Sberbank of Russia is launching new offers on residential properties under construction and finished residential properties, and an offer for young families. Mortgage applications will be accepted until 31.12.2104 (inclusively).

The offer on residential properties under construction has the following conditions: the interest rate before and after registering the mortgage is 13% per annum in roubles, the minimum down payment is 13% and the maximum lending period is 13 years.

Sberbank of Russia’s offer for young families includes interest rates from 11.5% per annum in roubles without the mark-up to the interest rate prior to registering the mortgage. Young families with no children or with one child can receive a discount of up to 1.50 percentage points on the standard interest rate, whilst those with two or more children can receive a discount of up to 2.50 percentage points. The discount covers all categories of borrowers. The down payment for a family with a child ranges from 10% of the cost of the finished property.

At the same time, Sberbank of Russia is launching an offer that reduces interest rates by 0.50 percentage points for its most popular mortgage product “Buying Finished Residential Property”. This offer covers standard rates excluding other offers. Reduced rates are introduced after a loan contract has been signed and within 30 calendar days of the approval of the loan.

Another special offer, which was launched on September 26, 2014 for employees of educational establishments and provides lowered interest rates on mortgages, is also ongoing.

You can find out more about the new interest rates on Sberbank of Russia’s website.

Sberbank of Russia’s loans for individuals are commission-free.

“The standardised mortgage lending processes at Sberbank together with this new offer will help our clients quickly acquire homes and at the same time receive reduced interest rates,” commented Natalia Alymova, Director of Sberbank of Russia’s Non-Transaction Retail Product Department.