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IBA’s Moscow branch launches mortgage lending program

Business Materials 26 October 2016 11:50 (UTC +04:00)

Baku, Azerbaijan, Oct. 26

By Anvar Mammadov – Trend:

Subsidiary of the International Bank of Azerbaijan (IBA) in Russia, IBA-Moscow, has launched mortgage lending program, the message posted on the bank's official website said.

The bank offers loans worth up to 10 million rubles for a period of up to 15 years.

The official exchange rate for Oct. 26 is 62.0480 RUB/USD.

The initial contribution is at least 10 percent of the total value of an apartment, and the interest rate amounts to 10.5 percent for the entire period of lending.

IBA-Moscow was founded in 2002.

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