Retail loans | «FINANCE & CREDIT» BANK

Retail loans

   Finance & Credit Bank offers its customers a broad range of loan facilities with the possibility of adjusting their standard conditions. Our objective is to satisfy most fully the needs of the potential borrower.

      Our credit products enjoy steadily growing demand. In 2006, the bank's credit portfolio of retail customers grew by more than 2.67 times to exceed UAH 1.8 bln as of January 1, 2007.

       The largest percentage of the Bank's credit portfolio is mortgage lending programs with 57%, followed by car loan programs with 25%, and consumer credit programs ("First Financial Aid", "Hire Purchase") with 9%.

The following programs have shown the highest growth rates:

mortgage lending (over UAH 394 mln)
loans secured on real estate (close to UAH 228 mln)
loans for retail customers for the purchase of new foreign-made cars (over UAH 172 mln)

In 2006, Finance & Credit Bank launched new loan facilities:

loan facility for retail customers – First Financial Aid

       A crucial advantage of this loan facility is the promptness with which the bank decides whether to grant a loan. The borrower can receive a loan within hours after applying. First Financial Aid is an advanced version of the loan facility Hire Purchase, which has been around for quite a long time. For loans received under the Emergency Financial Aid program, the borrower is not required to submit proof that the loan funds have been used for the purpose intended.

Variations of this facility:

First Financial Aid for pensioners
First Financial Aid for Sailors

Housing loans

"Interest Only" mortgage loan facility
    The borrower who buys housing under this facility may choose to pay only interest during the first three years after receiving the loan and start paying back the loan principal starting with the fourth year.

Loan facility for individuals purchasing households
This facility makes it possible to buy a cottage and adjoining land parcel on credit. This facility is especially relevant in view of soaring demand for cottages and private homes both in the suburbs of megalopolises and in the vicinity of regional centers.

"All Inclusive" mortgage loan facility
Along with the mortgage loan the borrower receives an additional loan to pay for the services of brokers, insurance company, notary, technical inventory bureau, etc., which requires no additional security.

"Discount" mortgage loan facility
Developed jointly with the real estate agency Olimp, this program is special in that for the first year the loan interest rate is reduced by 1%. The borrower receives an additional bonus from the real estate agency in the form of free expert appraisal of real estate and registration of documents with the technical inventory bureau.

Car loans

In 2006, Finance & Credit Bank significantly broadened its assortment of car loan programs. The bank has launched:

a car loan facility for individuals, enabling borrowers to purchase new domestic or foreign-made cars with an initial payment of zero percent.
a loan facility for individuals, enabling borrowers to purchase commercial vehicles
a loan facility for individuals, enabling borrowers to purchase commercial vehicles with an initial payment of zero percent

Apart from launching new car loan facilities, in 2006 the bank added new car dealerships to its list of partners in car loan facilities. At the end of 2006, the total number of partner car dealerships across the bank's nationwide network exceeded 620. At the end of 2006, the number of the bank's car insurance partners exceeded 50.

"Six Salaries" loan facility
The target group of borrowers under this program is the staff of the bank's partner companies. Its main advantages are availability of consumer loans for any purpose and no pledge requirement. If the borrower's employer has a payroll card project with the bank, a loan may be granted without security.

The highlights of Finance & Credit Bank's loan facilities for individuals include:

1. Prolongation of the mortgage lending period to 30 years jointly with the State Mortgage Institution.
2. The "All Inclusive" mortgage lending program offers a possibility to receive an unsecured loan to pay for the services of brokers, notaries, insurance company, etc.
3. Car loan programs offer an opportunity to receive an additional loan to buy insurance without additional security.
4. The bank has started granting loans for the purchase of commercial vehicles.
5. The bank has reduced interest rates for the current credit programs.