SKB-Bank introduced low interest rates on consumer loans on March 19, 2007, reports the bank’s press officer. The Loan to a Friend, for instance, now comes to 13,9% a year if you use it for less than a year, to 15.9% if you use it for three years, and to 16.9% if it takes you five years to pay it back. If a customer only wishes to borrow up to 250,000 RUR, only one backer is needed; two guarantors or a guarantor and a collateral are required if a customer would like to get more than 250,000 RUR. One could use their spouse in the capacity of a guarantor, too. The upper loan limit hasn’t been determined and can only depend on the borrower’s income, the press officer says.

‘Consumer loans are available to natural persons registered in Sverdlovsk Region and other Russian subjects where the bank’s offices are based. There is an incidental 2% commission on the loan but no other commissions. These terms of credit are unique to the market, since no other bank offers such low interest rates on classic consumer loans. SKB-Bank can afford to make loans less expensive and make our clients happy owing to our attracting relatively inexpensive finances on the foreign market,’ says Consumer Lending Director Konstantin Bogatyrev.