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Sberbank has Cut Consumer Loan Interest Rates
10.05.2018 00:09
Sberbank has Cut Consumer Loan Interest Rates

Sberbank has cut consumer loan interest rates and updated its pricing plan. Loan costs now depend on the size of lending. Rates have been cut from  1-8 percentage points, depending on a loan cost.

      The maximum decrease is 8 percentage points for loans of more than RUB 1 mln. Now, the interest rate is fixed for those loans for all categories of clients and is 11.9% per annum for at least RUB 1 mln. The decrease of rates for RUB 300,000 - RUB 1 mln loans amounts to 1-4 percentage points, the new rates are 11.9%-15.9%. RUB 30,000-RUB 300,000 loan interest rates haven’t changed and are 12.9%-19.9%.

      As of today, Sberbank has also increased the maximum loan amount for its payroll clients from RUB 3 mln to RUB 5 mln and decreased the minimum borrower age from 21 to 18 years old.

      The changes concern unsecured loans to private individuals.

      Sberbank is Russia’s largest bank and a leading global financial institution. Sberbank holds almost one third of aggregate Russian banking sector assets, it is the key lender to the national economy and the biggest deposit taker in Russia. The Central Bank of the Russian Federation is the founder and principal shareholder of Sberbank owning 50% of the Bank's authorized capital plus one voting share, with the remaining 50% held by domestic and international investors. Sberbank has more than 135 million individual customers and more than 1 million corporate clients in 22 countries. Sberbank has the largest distribution network in Russia with almost 17,000 branches, and its international operations include UK, US, CIS, Central and Eastern Europe, Turkey and other countries.







Author: Anna Dorozhkina


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