Ural Bank of Sberbank of Russia introduced new annual interest rates on a number of loans to natural persons on May 1, 2007. The Housing loan and the Young Family loan are now available at the minimum of 10.75% a year if you use rubles and at the minimum of 11.25% a year if you pay in dollars or euros. The figures used to come to 11.8% and 12.3%, respectively. The loans are provided for a term of five to thirty years now against the previous 20-year upper limit, with the actual interest rate depending on the period of a loan, the scale of the first installment, and the time the dwelling has been registered with the bank.

As for auto loans, one can now buy a new car using 11%-a-year ruble loan (compared with the previous 11.5%) or 11.5%-a-year dollar or euro one (compared with the previous 12%), or a used car with the help of 11.5%-a-year ruble loan (compared with the previous 12%) or 12%-a-year dollar or euro one (compared with the previous 12.5%). The good thing about the new interest rates is that they do not depend on the period of a loan (which comes to five years).

What is more, the Educational loan provided to students willing to cover their tuition fees for up to eleven years is now offered at 12% rather than 17% annual interest rate. The rest of the terms have remained the same: there are still no monthly commissions, vetoes on or fines for paying back early, or the borrower’s obligatory insurance. The only commission that is taken is an incidental one for the keeping of an account whose size depends on the type of loan and the place where you get it. Further details are available at Sberbank’s offices.