VTB (Azerbaijan) cuts interest rates on cash loans to 14.5%
From June 1, VTB (Azerbaijan) improves conditions for cash loans and refinancing, reducing the interest rate by 1.5 percentage points to 14.5% per annum. Clients can apply for a loan by identification, without a guarantor, as well as documents confirming the income and employment of the borrower.
A cash loan in VTB (Azerbaijan) is available in the amount of 300 to 30 000 manats, for a period of 6 months to 60 months, there is no service fee. As part of the refinancing program, you can combine several loans from other banks into one and repay the debt on them, as well as receive additional funds.
“Responding to customer requests in a timely manner and offering profitable financial solutions is an absolute priority for VTB (Azerbaijan). The summer period is traditionally associated with the holiday season, and, consequently, with additional expenses. Improved conditions for loan products will allow our clients to plan their expenses for vacations and other purposes. At the same time, we will continue to monitor the level of debt burden on customers in order to prevent them from becoming overburdened,” said Evgeny Borodin, Director of the Retail Business Development Department at VTB (Azerbaijan).
A cash loan is one of the most popular products among the population. In January-April 2022, VTB (Azerbaijan) issued about 3.7 thousand cash loans in the amount of about 18.9 million manats. The volume of issuance exceeds the figure for the same period last year by 2.7 times. The bank's portfolio in this segment has grown by 18% since the beginning of the year and amounted to 63.2 million manats at the end of April.
You can apply for a cash loan remotely on the bank's website, as well as through the contact center by short number 986. The loan is delivered to any address convenient for the client within the city of Baku and the Absheron Peninsula.
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