Renat Shakirov, Avers Bank: ''We provide fair market conditions for products that protect our clients' interests''
Before the New Year, everybody is busy choosing gifts for their relatives whom they want to please with a sense of celebration, miracle. Bonuses are expected only next year but a gift should be given on time. Avers Bank has launched several promotions, which will help to reduce the financial burden of its customers. How you can get a preferential consumer credit and mortgages — in the interview of Realnoe Vremya with Deputy Chairperson of the Board of Avers Bank PLC Renat Shakirov.
A mortgage with a ''fair interest rate''
Mr Shakirov, what fundamental changes have been in the line of mortgage loans of the bank?
We have abandoned the complex gradations of the rates for all programs. For example, we have established the single interest rate that does not depend on a loan term or an amount of a down payment for the mortgage programs for the purchase of apartments, houses with land. It has become lower. In addition to mortgage programs, we have launched a promotion. Now you can take out a mortgage with state support with 10.9% interest rate, 12.5% — for acquisition of a flat or a residential house with land. The amount of a credit can be from 300.000 rubles to 15 million rubles, a loan term – up to 20 years and including. The lower interest rate and longer loan term are, the lower monthly payment is, therefore, the savings will give you an opportunity to buy more New Year gifts. For the borrowers who submit an income certificate 2-NDFL, the down payment is only 20%. It is no secret that many borrowers are unable to confirm their official with an income certificate 2 NDFL, specially for them we have provided the possibility of income verification with a certificate made on form of the bank, with an increased amount of the down payment up to 50% of the cost of an acquired object.
Does one need a collateral for this loan?
A collateral for this loan is the acquired apartment or house with land. The main requirement is the real estate must be located on the territory of the Republic of Tatarstan (for the construction period of a residential property, a claim on the equity participation agreement is taken as security).
Is the promotion to reduce the interest rate applied to all mortgage loans? Up to what period is it valid?
Yes, the promotion to reduce the interest rate is carried out from 5 December 2016 to 1 March 2017. In addition, it also applies to the program of the loans refinancing Reloading 2.0 (Perezagruzka 2.0). Those who took a mortgage at a high rate they can turn to our bank and to obtain a credit on better conditions, reducing the interest rate and thus to reduce the burden on the family budget. Thanks to the refinancing program Reloading, the bona fide borrowers have an opportunity to ease the debt burden on loans issued by other banks. Now in the framework of the promotion, the interest rate is 12.5% per annum.
The promotion to reduce the interest rate is carried out from 5 December 2016 to 1 March 2017
Are there any requirements to a potential borrower?
The amount of a credit to the market cost of a mortgaged property is 0.70%. The minimum period of service of the debt from a primary creditor shall be six months. There shall be no overdue payments. It is also necessary to submit a certificate from the primary lender on full repayment of the debt to the bank within 10 working days from the date of issuance of a new credit. And within 15 working days from the date of issuance of a new loan to transfer the collateral for the newly concluded agreement.
Is it possible to change a repayment schedule?
Yes, you can change it. For example, instead of annuity payment you can choose a differentiated one.
In the annuity payment scheme, a client pays monthly the same amount that is formed of part of the principal debt and accrued interest. Moreover, main emphasis is made on repayment of interest on the loan, which takes a major share of payments in the first months. Over time, the share of interest payment decreases, and the share of the principal debt increases.
If the differentiated scheme of payment, the payment is different: the loan principal is divided into equal parts (usually by month), and interest accrued on the amount of the loan balance. Thus, payment of a credit is made in descending order, and the amount of a payment is reducing depending on the degree of the loan repayment.
The differentiated payment is sometimes called ''fair interest''. Not all banks are ready to provide their customers with such loan repayment scheme.
Those who want to improve their living conditions, they should carefully consider the possibility of obtaining a loan in different banks. Competition in the banking sector provides a great opportunity for our customers. For example, under to the mortgage program Priority, the employees of companies belonging to the group of companies TAIF has a unique offer — at the rate of 12% per annum they can purchase an apartment or a house with land. A loan amount is from 300 thousand to 5 million rubles, the term — 30 years. The minimum size of the down payment to the cost of the collateral is 15%.
A garage and a parking lot
A mortgage with state support is valid until 1 January. Some banks declare their readiness to extend this programme...
The validity of this programme is up to the end of 2016 as yet. We have a rate of 11.4% per annum for it, for employees of the group of companies TAIF — 10.9%. We have already prolonged this program. It has proven its effectiveness.
As for the extension of the program, we will see what the market conditions will be, on the terms of which it can be continued.
What real estate in addition to apartments and houses can be purchased using mortgage loans of Avers Bank?
We have the program New Opportunities, it is possible to buy a dacha house with land; rooms, share in apartment or house, as well as land, including the facility under construction or a parking lot or a garage. The size of a credit is from 300.000 rubles to 5 million rubles, the term is up to 20 years. The interest rate — 14% per annum.
Does one need to take out a life insurance to obtain mortgage loans in the bank?
We have introduced a program of voluntary life insurance in the first place in the interests of the clients. Participation in the insurance program allows the borrowers to protect themselves in case of unforeseen situations related to the events causes the death of the insured person, loss of health.
Our insurance is significantly different from the current proposals on the market. Banks often offer to insure the loan for the entire term, and it is necessary to make a lump sum payment and to include this insurance in the principal amount of the loan. It is very expensive for a customer. Let's do the math. Let the loan amount will be 500 thousand rubles. The size of the insurance — 1%. If the term of a loan is 5 years, the insurance amount will be 25.000 rubles. This is quite significant lump sum payment.
We have another scheme of a voluntary insurance. First, we provide insurance only for the first year. Next year it will be prolonged. A year later, the debt will be not 500 thousand rubles, but much smaller. Accordingly, the amount of insurance will decrease.
We offer our customers fair market conditions for products that protect our clients' interests.
How does the availability of insurance influence the size of the interest rate?
For the mortgage programs with no voluntary life insurance and no insurance against the risk of loss of the right of ownership of a purchased object, the rate is increased by 3%.
Consumer loans have become bigger
Let's move on to the consumer lending. What are the changes?
For the Premier loan, for the employees of TAIF group of companies we have increased lending limits. If earlier the unsecured loan was 300 thousand rubles, now the amount has increased to 500 thousand rubles. In the framework of the promotion, which is valid from 1 December, you can increase the loan amount up to 1 million rubles. The interest rate for it — from 14.5%. the loan term — up to 5 years. The advantages of the loan: it can be obtained without collateral, and you can choose the type of monthly payment — equal (annuity) or decreasing (differential).
For the program Major League, the maximum loan amount has also been increased to 300 thousand rubles. The loan rate — from 16.5% per annum. The loan term — up to 5 years. There is no commission for issuance. Those customers who apply for a credit not for the first time and have a good credit history, for their loyalty they can expect a lower interest rate by 0.5%.
Now we have a new consumer credit program — Time To Act. It allows you to borrow up to 5 million rubles for consumer needs for up to 20 years. The rate for the employees of group of companies TAIF is 14.5% per annum, for the other customers — 15%. But the rate can be adjusted if have a positive credit history. To get a loan, you do not need guarantors, it requires only a pledge. The goal of the program is to help to make repairs or to buy a property for those who do not want to use a mortgage.
Does the possibility to refinance a loan apply to the consumer lending programs?
Sure. Existing credit customer's obligations do not hinder from obtaining loans in Avers Bank. One can refinance not only mortgages but also consumer loans. One can also leave the annuity payment or to move on to differentiated payments.
Before the New Year I want to wish everyone to perceive life what it is and enjoy what we have. Of course, it is necessary to strive for the best, but in this pursuit we should not forget to enjoy life, our children. I wish the readers of Realnoe vremya financial stability in the coming year, peace of mind and warmth!