Uniastrum Bank and the Automir Group have joined forces and come up with two new credit products called Uni Mir and Uni Mir 1, which motorists can use to buy the car of their choice at any Automir dealer, effective February 25.
A Uni Mir loan can be used to purchase vehicles costing up to Rb 600,000. Interest rates on ruble-denominated credits begin at 16.5% APR, and the loan can be accessed with a minimum initial installment of 15% and the payment of a Rb 8,000 arrangement fee. Uni Mir 1, on the other hand, is designed for customers looking to treat themselves to a vehicle selling for over Rb 600,000. Ruble lending rates start at 16.5% APR, while the minimum down payment is 25% of the loan amount. The arrangement fee is Rb 10,000.
Once submitted, an application for a Uni Mir or Uni Mir 1 loan is processed within just one day and customers have 91 days to access the money. While the loans are repayable over a period of 5 years, borrowers may opt for early or partial settlement at no extra charge. Also, the loans can be used to buy new or secondhand vehicles with no change to the interest rate. Uniastrum is flexible when it comes to applicants providing proof of earnings: an official individual income tax statement or a signed Uniastrum Bank form signed by the customer’s employer or him/herself will suffice. Whatever proofs an applicant opts for, the loan conditions remain the same.
In 2009 Uniastrum issued more than Rb 3.5 bn in auto credits. As of year-start 2010 the Bank’s auto lending portfolio weighed in at Rb 6.8 bn, an increase of over 16% on the prior-year result. Data released by RosBusinessConsulting show Uniastrum gaining a Top-10 ranking among the country’s biggest disbursers of auto loans in 2009, jumping 9 places from 17th to 8th position.
“Uniastrum Bank and its partners offer a number of special loan deals to people wishing to buy new or secondhand vehicles,” says Maxim Matanov, Head of Uniastrum’s Auto Lending Division. “What make them different from more standard credit facilities are their low lending rates and cut-price arrangement fees. Overall, some 25% of the Bank’s auto loans are issued under dealer partnership programs.”
For more information call or write Olga Kurganova:
744 04 04, ext. 1066
kurganova@uniastrum.com