UrBC, Yekaterinburg, December 5, 2019. SKB-Bank joined the National Credit History Bureau's Personal Credit Rating Project, the bank's press service reports; there are currently 4,000 creditors, some 99m people, and more than 400m loan records in the bureau's database.

'A personal credit rating is created automatically based on the borrowing party's credit history. By applying for a personal credit rating, customers can easily see whether their credit history is a good one and possibly get a personalized offer from the project's partner banks. This option might prove significantly more interesting than the other offers on the market, and could yield a variety of bonuses. The higher your personal credit rating is, the wider range of loans and the better terms you can apply for,' the press service says.

According to Retail Business Development Director at SKB-Bank Alexei Lutsenko, a personal credit rating is a simple and clear credit quality indicator.

'For customers, this is one way to assess their chances of getting their loan application approved without having to go over every single aspect of their rather long credit history. For banks, a personal credit rating makes it easier to assess the potential borrower's solvency and to come up with the most suitable proposals for customers with different credit ratings. For one, applicants with higher ratings will be able to take out a loan at SKB-Bank on an interest rate that is 1% lower than our base interest rate,' Lutsenko says.

You can apply for your personal credit rating score on the National Credit History Bureau's website; two applications a year come free of charge.