Russia’s Sberbank offers lower consumer loan rates through Sep 30

MOSCOW, Jul 18 (PRIME) -- Top Russian lender Sberbank has cut consumer loan rates by up to 2 percentage points from Monday through September 30, the bank said in a statement.

Sberbank’s minimum rate stands at 13.9% annually for a guaranteed consumer loan and 14.9% annually for an unsecured consumer loan, the volume of which exceeds 400,000 rubles.

“We see that demand for consumer loans in reviving. Sberbank’s lending almost doubled on the year to over 355 billion rubles in the first half of the year,” Natalya Alymova, head of the bank’s department for retail non-transactional products, said.

“After the latest cut in interest rates on May 16, average daily lending rose more than 15%,” she said, adding that the bank plans to increase lending further.

(63.1697 rubles – U.S. $1)

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