UBRD brings interest rate down to 17%

May 29, 2015. The Ural Bank for Reconstruction & Development brought the minimum interest rate on its consumer loans (Open and A Minute’s Wait) down to 17% a year and to 22% a year (Retirement), the bank’s press service reports.

‘We are trying to reach quickly to market changes, so we were some of the first to come up with more affordable loan terms for our customers. This is especially topical right now, since people tend to need more money as the summer comes, that is, to spend more on traveling, remodeling, and dacha investments. The family budget is often insufficient for the purpose, so we are positive that customers will welcome the offer,’ says the bank’s Deputy Lending Offers Director Svetlana Zaitseva.

The UBRD also reports the monthly payment has now grown quite tolerable for most potential borrowers. For one, if you take out a loan to finance a family vacation in Turkey that costs 87,550 RUR, your monthly payment will only come to 1,877 RUR a month, while a loan payment for the remodeling of an apartment (135,000 RUR) will come to 2,894 RUR a month.

The bank’s retail loan book amounted to 55.9bn RUR on May 1, 2015, providing it the 31st position in the national rating.

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