Azerbaijan, Baku, July 27 / Trend /
Azerbaijani Bank Respublika has reduced the commission and cancelled the requirement for insurance of mortgaged property worth 30,000 manats, bank's report published on its website on Saturday said.
The commission on business loans for small and medium businesses amounts one percent, and the maximum amount and annual interest rate on the loan is 300,000 manats and 22 per cent per annum.
Also, when obtaining a loan in Bank Respublika the customers can get a discount of up to two percent on annual interest rate, depending on the particular application for the loan.
Bank Respublika makes it possible to pay the loan without visiting the bank - through bank's website, via ATMs or via Mobil Bank mobile application.
Bank Respublika started its activity on May 22, 1992 and has become one of the leading banks of Azerbaijan during these years.
The bank's shareholders include two largest financial institutions of Germany - the investment company DEG, a member of KfW banking group and Sparkassen International Development Trust, a member of Sparkassen-Finanzgruppe financial group, which have been owning shares in Bank Respublika in the amount of 25% + 1 share, since April 28, 2005.
The official exchange rate for July 27 is 0.7843 AZN / USD.