Nordea Bank has lowered the interest rates and down payment for its housing loans

25.05.2010

Nordea Bank has lowered the interest rates and down payment for its housing loans

OJSC Nordea Bank has lowered the interest rates by 1.5 – 2.5 percentage points for the ruble-denominated mortgage loans.

The Bank’s current rates for mortgage products, requiring personal and title insurance, are in the range from 9.5% and 15.5% per annum in RUB and from 7% to 13% per annum in USD or EUR, depending on a loan program and an income documentation form. This is the second reduction of mortgage interest rates effected by the Bank this year.

The changes also concerned the minimal down payment. Now if you buy an apartment in Moscow and Moscow region you pay down 15%, that is 5% less than before.

As Deputy Chairman of the Bank’s Management Board, Andrey Maltsev remarks: «Nordea Bank has enough possibilities for attracting new customers by lowering the cost of mortgage products. Such policy will enable us to strengthen our positions among the Russian housing loan market key players».

Nordea Bank offers such housing loans as «Classic», «Special-Purpose» and «Any-Purpose», as well as «Share Equity Construction Loan» as part of a joint project with the Finnish YIT Corporation. Another important advantage of the Bank’s mortgage programs is a 30-year maturity, no prepayment penalty and repayment options in differentiated (amortizing) or annuity payments (in equal installments), acceptance of commercial realty and land plots as collateral, consideration of various income sources and etc.

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