Azerbaijan, Baku / Trend / Unibank decreased the interest rates for internal mortgage crediting, the Bank informs. The interest rates of the credit which the Bank allocates through its own finances were considered both in AZN and in USD.
"Unibank is one of the first banks of Azerbaijan to begin granting mortgage credits through its own funds. We have allocated ninety-six credits in the amount of $3mln. A simpler system of documentation, possibility to receive finances both in AZN and in USD, facilitates the process of receiving credit for real estate," said the Bank's Service Manager, Heydar Mirzayev.
Presently Unibank's mortgage rates are 15% in AZN and 18% in USD. The largest mortgage came to 342,000 in AZN and 400,000 in USD which is to be paid in no more than ten years. In addition, while receiving credit, the citizens of Azerbaijan should put down a down payment of 30% of the cost of the acquired property.
Moreover, it should be noted that in the State line of mortgage crediting, Unibank has granted 125 credits totaling $5.5 mln.
The average mortgage has a 6% annual rate to be paid over twenty years.