OREANDA-NEWS. February 02, 2010. The Bank of Moscow extends credits for purchasing parking places in multi-storey car parks currently under construction within the scope of the Moscow Government’s "Public Garage" programme.

The credit is extended for a period of from 1 year to 5 years in an amount of 140 to 350 thousand roubles, and against pledge of the purchased garage/parking place and the care (for a sum of from 280 to 350 thousand roubles). The cost of a parking place under the "Public Garage" programme is fixed and currently amounts to 350 thousand roubles. The interest on the credit is charged at 14.2% per annum in roubles.

In addition, the Bank of Moscow has abolished the need for mandatory third person surety for the credit.

"By offering our clients targeted credits within the scope of the "Public Garage" programme, we are offering not only high quality banking services, but also a realistic opportunity to become the owner of a garage/parking space using borrowed funds", comments Andrey Lapko, Vice-President of the Bank of Moscow. "A Bank of Moscow credit means the possibility of purchasing a garage at no detriment to the family budget".

As a financial partner under the "Public Garage" targeted programme, the Bank of Moscow provides for letter of credit type settlements for those wishing to become owners of a garage/parking space.