Orgresbank cuts mortgage loan interest rates and introduces mortgage products with fixed and combined interest rates

22.06.2009

Orgresbank cuts mortgage loan interest rates and introduces mortgage products with fixed and combined interest rates

JSB Orgresbank has been cutting mortgage loan interest rates in US Dollars by two percentage points and for loans in EURO - by one percentage point.

 

Thus, currently the Bank is offering mortgage loans in EURO and US Dollars at one of the lowest rates on domestic market: in the ranges between 8% and 14% per annum, depending on a credit product type, form of profit confirmation and other factors.

 

 Besides, the Bank has been introducing mortgage products in RUB with fixed and combined interest rates. Fixed rate will remain flat during all crediting period (up to 30 years), its minimum value being 17% per annum and the maximum one – 21%. Combined interest rate shall be fixed during first five years from the moment when the loan is granted in the range of 16%-20% per annum, after that it shall be specified every 6 months, depending on MosPrimeRate.

 

These changes are stipulated by general improvement on commodity and financial markets, including reduced refinancing rate set by the Central Bank of Russia, as well as due to stabilization of the ruble exchange rate.

     

 JSB Orgresbank offers the following mortgage loans: «Standard», «Special-purpose» and «No-purpose» loans. The Bank’s retail credit portfolio based on the results of Q1 2009 was 10, 65 bRUB (according to IFRS).

 

You can obtain further information on the Bank’s mortgage products at phone number: (495) 662-11-55  - in Moscow and having applied to the Bank branch offices in the regions of Russia or on the Bank’s web-site.


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