VTB (Azerbaijan) clients can now activate the life insurance service when applying for a cash loan. Insurance does not affect the terms and total cost of the loan.
Cash loans are available to retail clients of the bank for up to 59 months from 300 to 50 thousand manat from 10.49% per annum. According to the results of the second quarter of 2024, the bank's cash loan portfolio exceeded 89 million manat.
“Credit life insurance protects the client in case of unforeseen circumstances. In the event of the borrower's death, it guarantees a full payment, and in the event of his temporary or complete loss of ability to work, it covers the costs of monthly payments in accordance with the terms of the contract. At the same time, the client himself chooses whether or not to activate the life insurance service, and this does not affect the final decision on issuing a loan,” commented Yevgeni Borodin, member of the management board, director of the retail business development department of VTB (Azerbaijan).
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