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01.10.09

Raiffeisenbank to Lower Interest Rates on All Car Lending Programmes

As part of its effort to improve its car lending programmes, ZAO Raiffeisenbank is offering clients updated credit terms: as of 1 October, the bank will be reducing the interest rates for all programmes by 4,5%.

Now, in the purchasing programme for foreign cars, the interest rates come to 14% to 16% annually in US dollars and euro and from 18% to 21% annually in roubles, depending on the credit period (from one to five years) and the type of income verification. In the purchasing programme for acquiring used foreign cars, the interest rates range from 15% to 17% annually in US dollars and euro and from 21% to 23% annually in roubles, depending on the credit period (from one to five years) and the type of income verification.> Clients can acquire domestic cars for interest rates from 15% to 17% annually in US dollars and euro and from 20% to 22% annually in roubles, depending on the credit period (from one to five years) and the type of income verification.

The moratoria and commissions on partial and full early repayments have been cancelled for all car lending programmes.

Changes in Raiffeisenbank’s credit programmes are being implemented simultaneously in all regions where the bank is present.

Full information on the conditions for all of Raiffeisenbank’s car lending programmes may be found on the bank’s website under «Car Loans».


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 1H 2009 results (Interfax-CEA). According to Interfax-CEA, ZAO Raiffeisenbank ranked 4th in Russia in terms of private deposits and 6th in consumer lending in Russia based on 1H 2009 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 60,000 employees service around 15 million customers via more than 3,100 business outlets. Raiffeisen International is a fully-consolidated subsidiary of Raiffeisen Zentralbank Osterreich AG (RZB), which owns about 70 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.

 

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