On September 16, 2010 Raiffeisenbank repealed its mandatory requirement for customers to provide a certificate of income from their place of employment. Previously, to obtain the minimum interest rate for a car loan with a 15 percent down payment, borrowers were required to verify their income in an official form (income statement
Raiffeisenbank lending programs allow its customers to choose the appropriate set of documents in order to obtain a car loan. Only two documents are required: passport and a document confirming employment (work book or other document); or, passport and a second form of ID (driver’s license/passport/ military ID).
By providing a passport and a document confirming employment, customers have the opportunity to obtain a loan of up to 3 million roubles. If the customer does not have time to collect documents from his or her place of employments, he or she can benefit from the program, without providing any additional documents confirming employment and income.
The following revolutionary offer continues to be valid: the customer can provide any set of documents and obtain a rate of 7.5% per annum, providing that life and health insurance is included in the loan, and a 1 year loan is issued with a payment of 40% of the cost of the new car. In addition, customers can benefit from this program without including life and health insurance into the loan payment. In this case, the customer can obtain a loan at a rate of 9.5% per annum in roubles.
ZAO Raiffeisenbank is a subsidiary of Raiffeisen International Bank-Holding AG. Raiffeisenbank is ranking 9th in terms of assets among the Russian banks based on H1 2010 results (Interfax-CEA). According to Interfax-CEA, ZAO Raiffeisenbank ranked 6th in Russia in terms of private deposits and 9th in consumer lending in Russia based on H1 2010 results.
Raiffeisen International operates one of the largest banking networks in CEE, covering 17 markets across the region through subsidiary banks, leasing companies and a range of other financial service providers. The group’s nearly 56,000 employees service more than 14.7 million customers through around 3,000 business outlets. Raiffeisen International is a fully-consolidated subsidiary of Raiffeisen Zentralbank Oesterreich AG (RZB), which owns 72.8 per cent of the common stock. The remainder is in free float, with the shares listed on the Vienna Stock Exchange. RZB is a leading corporate and investment bank in Austria and the central institution of the Austrian Raiffeisen Banking Group, the country’s largest banking group.