OREANDA-NEWS. February 24, 2010. Bank Societe Generale Vostok prolongs participation in state subsidy car lending program. The Ministry of Industry and Transport has prolonged the program till the end of 2010 under the same conditions, as last year, reported the press-centre of BSGV.

BSGV has participated in the program since December 2009. In the framework of the program the state subsidizes a part of the loan rate in the amount of 2/3 of refinancing rate (8.75% since Dec. 28, 2009), thus, BSGV borrowers can get a car loan under the rate starting from 7.17% p.a. The loan for up to 3 year term is granted for the purchase of a new car produced on the territory of the Russian Federation, with maximum price of 600 000 rubles, included in a special list. The minimum downpayment is 15% of the loan amount.

According to the Ministry of Industry and Transport, last year 71 600 people used this program. Its budget 2010 totalled to 1 bln rubles.