URALSIB Bank widens age range, lowers interest rate for car loans
URALSIB Bank recently made car loans more accessible to its customers, making it easier for them to get loans and making the loan rates lower through a state subsidy program.
URALSIB offers car loans ranging from $1,423.94 to $53,397.90, requiring an initial contribution of 20 percent, according to a press release. The loan period ranges from one to five years.
The loans are available to a wider age range of customers. The bank has increased its maximum age to 65 years old and reduced its minimum to 21 years old.
Further, those approaching the bank for a loan can now do so with less documentation. URALSIB now only requires two of the following documents for the issuance of credit: a Russian passport and an additional identifier such as an individual insurance account number (SNILS) certificate, a military ID or an officer’s license.
Loan rates range from 8 percent to 17 percent annually, a reduction made possible by a state program subsidizing interest rates, according to the release. The bank offers both its own car loan program and some loan programs offered in conjunction with car manufacturers.
Organizations in this story
URALSIB Bank ulitsa Efremova Moskva, Moscow