On November 1, the CREDIT BANK OF MOSCOW (MKB) began issuing MASTERCARD credit cards, including Electronic, Standard, Gold and Platinum cards, to private clients. The credit card may be drawn in roubles, US dollars and euros in the amount of up to R500,000, $18,000 and E15,000. The credit limit is set for five years and renewed if the credit is partly or fully repaid. No restrictions are imposed on cash withdrawal.
The interest rate is set at 16% annually on card credit facilities in currency and 18% in roubles. The interest is charged on used credit resources. No interest is charged on the card credit if it is repaid within 50 days. The preferential period is valid from the first date when the credit was used to the 20th date of the following month.
Source: BANKI.RU, November 1, 2006
