Azerbaijani postal operator expands consumer loan repayment service
Baku, Azerbaijan, May 31
By Huseyn Valiyev - Trend:
The consumer loan repayment service of several banks and non-bank credit organizations will become available in Azerbaijan's postal communications network, Azerpoct LLC (Azerbaijani postal operator) told Trend.
Currently, the Azerbaijani postal operator is holding talks on introducing the service on repayment of loans granted by the Access Bank, Bank Respublika, Bank of Baku and the FINCA Azerbaijan and TBC Kredit non-bank credit organizations.
These banks are expected to join Azerbaijani postal operator's network in the near future.
The service of repayment of consumer loans issued by the ExpressBank, Unibank and Yapı Kredi Bank Azerbaijan are currently available in the postal network.
Loan transfer calculations are carried out within the postal operator's system.
The repayment of loans via the post offices allows the banking organizations to expand loan programs in the country's regions, to increase the number of regions of participation and the number of borrowers.
The postal operator's banking services are rendered via an automated corporate information system, which has already been joined by some 900 postal communication departments and branches.
The fee for this service is one percent of each payment. The loan repayment is accepted in Azerbaijani manats.
Additional fee of 0.5 percent is charged when the loan repayment is conducted in foreign currencies.
Edited by S.I.