BINBANK (Moscow) has launched a new program of credits to private individuals, Individual Loans. The program provides for issuing credits from R15,000 to R450,000. Under that program, the credits under R90,000 do not need a security. The base interest rate is 16% in roubles. The credit rate may be lowered by one percentage point if the borrower provides additional security. Individual loans have terms of 6, 12, 24 and 36 months. An application consideration period is two to five days.
Source: FINNEWS.RU, August 23, 2006
