OREANDA-NEWS. May 04, 2011. During the first quarter of 2011, the rate of consumer lending in cash saw a threefold growth versus the fourth quarter of 2010 at VAB Bank. March 2011 proved to be the most active month with over 15 thousand private individual applications for cash to cover present needs, reported the press-centre of VAB Bank.

“Lending in cash is among the fastest growing lending segments in the present-day market.  Such loans are used mostly to cover the lack of funds for ongoing needs.  Therefore, fast access to cash is in many cases a decisive factor driving the borrower’s choice of a bank to deal with,” Mr. Anton Shaperenkov, head of retail business marketing department of VAB Bank, said.

According to Mr. Shaperenkov, it only takes 15 minutes to process a cash loan application of a client.  “Such decision making speed, being the product of well-defined internal processes and technical solutions, became one of the Bank’s strongest competitive advantages,” he explained.

Maximum amount of a consumer loan under a standard offer is UAH 30 thousand.  Such loans are issued for up to 36 months.  For loans up to and including UAH 20 thousand no earning statement is needed.  The line of the Bank’s credit products includes special offers to certain borrower categories assuming lower debt service obligation at the level of 17% p. a.  Such loyalty programmes are available, inter alia, to customers using Bank’s payroll projects. 

Furthermore, the special offer Spring Discount Guaranteed! is active at the Bank until April  30.  Under this offer, each borrower is provided a guaranteed discount of 15%, 25% or 50% off the applicable interest rate.  Size of the discount is on a scratch card chosen by a borrower personally.  The customer whose discount is 50% actually gets debt service at half a price.