Subsidiary of Russian bank in Azerbaijan introduces new product to customers
Baku, Azerbaijan, Sept. 27
By Eldar Janashvili - Trend:
VTB Azerbaijan Bank has presented its customers an updated loan product, Trend reports referring to the bank's press service.
The new product is provided to small business entrepreneurs in manats and rubles at an interest rate of 14 percent. The maximum loan amount is 500,000 manats, regardless of the currency choice, and is issued for a period of up to 36 months. In addition, the bank can provide a grace period of three to six months to repay the principal.
The loan can be used to increase working capital (purchase of commodity values, settlements with suppliers and contractors), financing operating expenses, as well as settlements for unsecured documentary operations.
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