VTB (Azerbaijan) lowered interest rates on cash loans
VTB (Azerbaijan) has improved conditions for cash loans and refinancing. The minimum rate was reduced by 0.51 p.p. and now is 13.99% per annum. Over the last quarter, this is the second improvement in conditions for VTB loans.
A cash loan in VTB (Azerbaijan) is available in the amount of 300 to 30 000 manats, for a period of six months to 60 months. There is no service fee. As part of the refinancing program, you can combine several loans from other banks into one and repay the debt on them, as well as receive additional funds.
Clients can apply for a loan by identification, without a guarantor and documents confirming the income and employment of the borrower.
“Cash loans remain one of the most popular banking products among customers, as they allow you to get borrowed funds for any purpose and in a short time. After adjusting rates in May, we note an increase in demand in this segment in the first month of summer, which is also due to seasonality. Now the active time of vacations, purchases of suburban real estate, preparation for admission to educational institutions continues. Therefore, we have decided to once again update our conditions for consumer loans, reducing the rate to 13.99% per annum. But even taking into account the decrease in the cost of loans, it is important for us to avoid a serious debt burden on customers, and we are closely monitoring this,” said Evgeny Borodin, Director of the Retail Business Development Department at VTB (Azerbaijan).
According to the results of the first half of the year, VTB (Azerbaijan) issued more than 5.5 thousand cash loans to the population for 27.6 million manats, which is 1.8 times more than in the same period last year. The loan portfolio in this segment increased by a quarter in January-June, reaching 66.6 million manats.
You can apply for a cash loan remotely on the bank's website, as well as through the contact center at the short number 986.
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