According to TASS, VTB Bank has reduced rates across its entire line of car loans by 3 percentage points. Now the minimum rate on secured loans is 4.7% per annum, and on unsecured loans – 9.3%.
“VTB has improved conditions across its entire line of auto loan programs by lowering its base interest rates following the key rate move. Now collateralized loans are available to customers from 4.7% per annum, and unsecured loans from 9.3%. The conditions apply to the purchase of both new and used cars,” the bank’s press service said.
Minimum rates are available under certain conditions, including the registration of car insurance for the entire term of the loan. The bank also clarified that it is possible to take credit for a new car up to 7 million rubles for a period of seven years. If a used car is purchased, a credit of up to 5 million rubles is available for a period of up to five years. The down payment in both cases is 20% of the car value.