OREANDA-NEWS. The Bank of Moscow has started the implementation of a special programme "Reduction of payment" to support its retail borrowers. Now, about 200 thousand customers of the Bank will be able to significantly reduce the monthly payment under the loan.

The level of payment will be reduced from 20 to 50% with increasing duration of the loan and will be determined personally for each client. No additional documents and approvals are required for the registration of changes except for your passport only.

The Bank offers to participate in the programme for those customers, who do not have any problems with payments, but they need to reallocate their own budget. Through the participation in the "Reduction of payment" programme a client will be able to significantly reduce the amount of the monthly loan payment in a comfortable way . The possibility of partial or full repayment of the loan is always retained in this case, as well as positive credit history of the client. At the moment the programme applies only to cash loans.

"The difficult economic situation has enforced credit institutions to respond quickly to any occurring events. Most of measures had a negative nature - interest rates have been risen, credit conditions for retail customers have been tightened. We, at the Bank of Moscow, thought not only about how to work under new conditions, but also decided, how to take care of our existing clients-borrowers. We understand that in terms of price enhancement, our customers may face with the growth of their day-to-day spendings, and at the same time the risk of deterioration or loss of income is high. Launching a major campaign to reduce monthly loan payments, we help our customers to come through this difficult time easier", Vladimir Verhoshinsky, Member of the Board of the Bank of Moscow said.

The programme "Reduction of payment" was developed by the Bank to reduce the risk of loan default, the growth of customer loyalty and to maintain a high quality of the loan portfolio.