Moscow’s PROMSVYAZBANK has introduced new lending standards for individuals using guarantees of legal entities, the bank’s press service said. The program calls for common terms for providing credits to individual borrowers (employees of enterprises of PROMSVYAZBANK clients). As part of the program, PROMSVYAZBANK reduced rouble credit rates by 1.0% to 16% for two-year credits and to 17% for three-year credits. Currency credit rates are set at 12% (for two years) and 12.5% (for three years). The front-end fee has been cut from 2.5% to 2.0% (R1,500 minimum). The minimum credit is set at R30,000 ($1,000/E850) for Moscow and R15,000)$500/E430) for Moscow Region and other Russian regions. The maximum credit depends on the borrower’s solvency level.
Source: WWW.NOVECON.RU, October 1, 2007
