Russian ВТБ bank has increased term of mortgage crediting to 50 years
11 February 2008The maximal term of mortgage credits loaned by the bank has been increased to 50 years, is informed in the press release of the bank. Interest rates will be simultaneously increased.
The increase in term of crediting is addressed to the young potential borrowers, whose age does not reach 30 years. Increase in term implies rise in price of the credit, but monthly payments will decrease.
The declared increase of interest rates will concern, first of all, credits without an initial installment. Rates in rubles and foreign currency will be on the average increased by 0,5 percent. Such decision of the bank was dictated by situation in the international finance market.
BTБ 24, with the authorized capital of 30 billion rubles, specializes on natural person service and organizations of small business. It is one of 30 largest Russian banks, according to the Central Bank.
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