OREANDA-NEWS. May 31, 2013. Sviaz-Bank has launched an express lending program, Just a Loan (Prostokredit), for individuals that requires no collateral or surety, with only a few documents to be delivered. The national passport is to be produced at the final loan negotiation stage.

It takes Bank officials a mere 15 minutes to make a decision to issue or deny a loan. Once a decision is made, the borrower will be issued the loan funds at any Bank office within half an hour.

A customer may borrow from 30,000 to 200,000 rubles from the Bank for any purpose for a term of six months to two years. No confirmation of earnings is required, and the customer may, if he wishes so, take out an insurance policy covering accidents, diseases, and loss of employment.
The minimum interest rate charged on a Just a Loan contract is 27% per annum, significantly smaller that the average for this kind of loan on the Russian banking market. The loan may be repaid before expiry.

“Express loan programs are much in demand today, despite the relatively high loan cost. We have rolled out a product at competitive interest rates, on very moderate terms, and with decisions made within a quarter hour. From now on, low-income folks with a good credit history can take this opportunity if they need money quick, and we are ready to help them,” said Alexei Bakhayev, Director of Sviaz-Bank’s Retail Banking Development Department.