Azerbaijan, Baku, 17 November / corr Trend N.Ismayilova / Restriction of crediting by Azerbaijani bank intensified its influence and now affects the volumes of sales of household appliances. So far, reduction of credit investments impacted most visually only on automobile market.
According to inquiry held at centers of sale of household appliances, banks will not finance on former terms even if the crediting is restored. The banks, continuing lending, became to follow more selective policy. It means that presently, not every man can purchase the technique on credit.
Presently, purchase of domestic appliances on credit in Azel shop is impossible due to the policy, followed by creditor bank. Earlier, Bank of Baku lent upon purchase of technique in Azel shop, but the lending by the bank was suspended about a week ago, Azel said.
Earlier, money was lent with primary payment of 20% at annual rate of 30% and maximum up to three years. If crediting is restored, primary payment will reduce to 10%, the shop said.
Unitech cooperates with Standard Bank, which lends with primary payment from 20% to 30%. The interest rate depends on a level of a customer's salary. The loan is given at the rate of 16% for the term of one year. Terms of lending will not be changed in the nearest furture, the shop said.
Lending via Bank of Baku to purchase technique from Bakond. A customer is released from primary payment upon reception of loan, annual interest rate is 26% a year and maximum term of lending is two years. No changes are observed in demand for production lately. Terms of lending will not be reconsidered soon, the bank said.
Baku Electronics cooperates with Azerdemiryolbank. Loan is allocated at primary payment of 20% at 13% of annual income and maximum term of lending for a year and a half. The bank also lends doe purchase of technique in Samsung shops, besides Baku Electronics, Azerdemiryolbank said. The bank also renewed consumer crediting for the sum under AZN 1,000, which a consumer can receive at the rate of 25% a year for the term of one year. However, an access is limited to the bank's funds - the clients with monthly wages exceeding AZN 250 and producing a guarantee can be their
recipients.
DNS Computers shop cooperates simultaneously with Access Bank and Bank of Baku. A customer is required to pay 10-percent up-front money upon purchase via Bank of Baku. Credits in both banks are given at annual rate of 20% and for the term of two years, DNS Computers shop said.
Purchases via Computer City are realized with financial assistance of Rabita Bank. Terms of credit is as follows: there is no primary payment. 17% of annual and for the term of a year. Changes of terms of crediting are not expected in the nearest future, but the bank's policy became more selective in lending, Computer City said.
Exchange rate of US dollar was 0.8098 AZN/USD on 17 November.
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