Kapital Bank launched disbursal of car loans under 12% per annum for 3 year
Baku, Fineko/abc.az. Kapital Bank OJSC has introduced automobile loans under quite low annual interest rates.
The Bank has informed that a new form of crediting, a KB car loan, differs from similar loans of other domestic banks.
“Features of this loan is low interest rate: for three-year period in manats - 12% per annum, in US dollars or euro - 13% per annum, for two-year period in manats - 13% per annum, in US dollars or euro - 14%. In this type of crediting there is not a necessity of initial instalment. The loan is given only to individuals for purchase of an automobile,” the Bank said.
The loan recipient is required to pay all annual interests at the primary level.
For the rest period of the loan, the loan recipient needs to pay precisely cost of the automobile (without interests).
The automobile is insured on its full value and before the loan period expiration.
Currently domestic banks extend car loans under 18%-25% per annum, but a range of suppliers give automobiles in leasing under 9-10% per annum.
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