Azerbaijan, Baku, Jan. 13 / Trend N. Ismayilova /
Conditions of loans for car purchase were simplified in Azerbaijan, Azerbaijani representations of the world leading car manufactures said.
Most auto shops and partner banks simplified terms and extended the repayment period. Thus, the banks are continuing the policy to reduce interest rates on loans, which has been observed in the country since late 2009
Subaru auto shop cooperates with Bank Respublika. According to its conditions, car purchase on credit is available in 22 percent per annum with 20 percent initial payment, in 20 percent with 30 percent initial payment, in 19 percent with 40 percent initial payment and in 17 percent with 50 percent initial payment.
Maximal loan period is five years. Formerly the Bank offered credit on car purchase in 22 percent per annum with 30 percent initial payment.
Hyundai auto shop offer credits for cars through Bank of Baku in 20 percent per annum with 25 percent initial payment. Maximal loan term is three years.
The auto shop cooperated under these terms with Unibank earlier
Nissan and Ford auto shops offer credit for cars through the NBC Bank in 24 percent per annum with 20 percent initial payment. With 50 percent initial payment, the client will be free from annual interest payments for two years. The repayment period is five years.
Toyota auto shop is realizing credit for cars through Kapital Bank. The repayment date is three years with 20 percent in the initial payment at 22 percent per annum.
Earlier the loan was offered through Demir Bank in 22 percent per annum with 30 percent initial payments.
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