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VTB (Azerbaijan) reduces interest rates on cash loans

VTB (Azerbaijan) on the eve of the New Year holidays improved the conditions for cash loans by reducing the rate by 1 percentage point. – up to 12.99%.

Consumer loans are one of the most demanded products among the population of Azerbaijan. Following the results of 10 months of this year, the bank's loan portfolio in this segment increased by 27%, reaching 68 million manat.

“The end of the year is traditionally the period when customers most often make large purchases and opt for cash loans for this. Noting the steady interest in consumer lending, we decided to improve our offer for borrowers. Starting today, the minimum rates have been reduced to 12.99% per annum, which will allow customers to more confidently plan their pre-holiday spending,” commented Evgeny Borodin, Member of the Management Board, Director of the Retail Business Development Department at VTB (Azerbaijan).

He added that against the backdrop of growing demand for cash loans, it is important to prevent an increase in the rate of debt burden of the population, so the bank pays increased attention to the solvency of customers and maintaining a balance in the ratio of their income to credit obligations.

Cash loans in VTB (Azerbaijan) are available from 300 to 40 thousand manats for a period of 6 to 60 months. The bank does not charge the client a commission for maintaining the contract. As part of the refinancing program, you can combine several loans from other banks into one and repay the debt on them, as well as receive additional funds. The promotion will last until January 31, 2023.

You can apply for a consumer loan at VTB (Azerbaijan) remotely on the bank's website, at branches or through the contact center by calling 986.

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