The Refinancing Program will help to get a reduced interest rate on mortgage loans issued by other bank and lower monthly payments, as well as to change the currency and maturity of the loan.
The rates offered under this program range from 11.75% on RUR and from 9% on USD loans upon the collateral being registered in favour of Raiffeisenbank, and from 12.75% on RUR and from 10% on USD loans before the registration. The maximum eligible loan is 26 mn roubles or 900 thsnd USD, repayable over 25 years. No refinancing fee is charged under the program.
«Due to a healthy economic growth mortgage rates are becoming more attractive. As a result, there is a growing number of people willing to improve their borrowing terms,» says Andrey Stapanenko, member of the management board of ZAO Raiffeisenbank in charge of retail PI business. «The new mortgage refinancing program will help borrowers to transfer their loans to Raiffeisenbank and enjoy lower mortgage repayment costs on loans issued by other banks.»
Raiffeisenbank offers a wide choice of mortgage programmes, providing finance for purchase of a new flat before its construction, for purchase of a secondary-market property, and home equity loans.
For details on all mortgage programmes of ZAO Raiffeisenbank go to the official web-page.
ZAO Raiffeisenbank is a subsidiary of Raiffeisen Bank International AG. Raiffeisenbank ranks 9th among the Russian banks in terms of assets, based on Q1 2011 results (Interfax-CEA). According to the same Interfax-CEA data, ZAO Raiffeisenbank ranked 5th in terms of private deposits and 8th with regard to consumer lending.
Raiffeisen Bank International AG regards both Austria, where it is a leading corporate and investment bank, and Central and Eastern Europe (CEE) as its home market. In CEE, RBI operates an extensive network of subsidiary banks, leasing companies and a range of other specialised financial service providers in 17 markets. Around 60,000 employees service about 14 million customers through around 3,000 business outlets, the great majority of which are located in CEE. RBI is the only Austrian bank with a presence in both the world’s financial centres and in Asia, the group’s further geographical area of focus. Raiffeisen Bank International is a fully-consolidated subsidiary of Raiffeisen Zentralbank Oesterreich AG (RZB). RZB indirectly owns around 78.5 per cent of the common stock, which is listed on the Vienna Stock Exchange; the remainder is in free float. RZB is the central institution of the Austrian Raiffeisen Banking Group, the country’s largest banking group, and serves as the group head office of the entire RZB Group, including RBI.