OREANDA-NEWS. November 11, 2010. Raiffeisenbank in partnership with Volvo Cars has added to its joint credit proposal for the purchase of Volvo cars. In a bid to offer the best lending conditions for borrowers, which are fast and convenient in financial terms, Raiffeisenbank has continued to lower its interest rates on loans as part of the special programme "Volvo Car Credit", reported the press-centre of Raiffeisenbank.

The programme is already much loved and very popular with borrowers, and it has been developed further. It involves a down payment of 40% and a minimum interest rate of 9.5% per annum.

Now, the borrower who takes out a loan for a period of 13 months to 2 years, with a 40% down payment for the car, will pay an interest rate on this loan of 11.9% per annum. If the client includes life and health insurance cover in the payment, the interest rate is two percentage points lower, at 9.9%.

A new flexible credit proposal involves smaller loan payments than if a loan is taken for 1 year, and is designed for clients who do not wish to burden themselves with a long term debt.

The special "Volvo Car Credit" programme for the purchase of new and second-hand Volvo cars enables borrowers to take a loan out for a period of 12 to 60 months and presents many unique advantages. These include, in addition to the special rates on loans with a term of one to two years, lower standard interest rates, no requirements from the Bank to extend the comprehensive insurance in the second and subsequent years of the loan when a loan is taken out for a used car, and simplified documentation requirements. Thus, in order to apply for a loan, no additional documents are required confirming the employment status and income level of the borrower. The joint credit proposal "Volvo Car Credit" has been active for more than 2 months.