Nordea Bank has lowered its interest rates and down payment for vehicle loans (new foreign and domestically made cars and bikes)

02.06.2010

Nordea Bank has lowered its interest rates and down payment for vehicle loans (new foreign and domestically made cars and bikes)

OJSC Nordea Bank has lowered its interest rates in RUB down to 13% under the loans for purchasing new and used foreign and Russian cars with the load capacity of up to 3.5 tons, as well as foreign makes of bikes.

Now that the interest rates range from 13% to 15% per annum in RUB for new cars, from 14% to 15.5% for used cars and from 15% to 16% for bikes, depending on a loan maturity, these vehicles are becoming more affordable for the Bank’s customers.

Also, the down payment amount has been reduced down to 15% of the value of a new foreign/domestic car with the load capacity of up to 3.5 ton, which is worth at most 600 thousand rubles (or its equivalent in USD or EUR at the exchange rate of Russian Central Bank as of the value appraisal date).

Deputy Chairman of the Bank’s Management Board, Andrei Maltsev notes that «with the loans for a motorcycle, quad or even a water scooter becoming cheaper, such vehicles may prove a perfect summer present for those keen on active leisure».

Nordea Bank offers its customers an opportunity for buying new and used cars of any make, as well as motorcycle and cargo vehicles. Among advantages of the Bank’s car loan programs are: no monthly fee, nor need for notarization of a vehicle pledge agreement, as well as possibility for the family members’ income consolidation when deciding on loan amount eligibility.

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