Russia’s major bank SBERBANK will offer new terms for its auto credits on September 1. The bank will nullify a mandatory down payment and charges for early redemption of the credit. The bank will also expand the list of borrowers’ incomes used to consider the borrower’s solvency to determine the size of the credit. Mandatory life and earning capacity insurance will no longer be required. The bank will also nullify its requirements for guarantees from a solvent individual and the decision to provide a credit of up to R750,000 to clients with favourable credit histories will be made within two working days.
Source: BANKI.RU, August 17, 2006
