OREANDA-NEWS. August 17, 2010. Bank Standard has optimized the terms of motor loans program making them more beneficial for clients. According to the new terms the maximum loan amount can be 40,000 AZN and the minimum initial payment has been reduced to 25% of the price of the car. It must be noted that the initial payment of other banks is around 35-40% (except the official car sales centers that sells new cars).  The motor loan annual rates of Bank Standard starts from 16%, depending on an initial payment. But the market average of motor loan annual rates for new cars is 19,5%, reported the press-centre of Bank Standard.
 
Besides the abovementioned, insurance amount can be added to the amount of motor loan and in that case the client should pay only an initial payment and commission fee for it.
 
The program of motor loans covers almost all brands and models of the cars officially presented in the country. Within the framework of bank’s program of motor loan along with new cars, it is possible to become owner of second-hand cars.
 
It is not mandatory to have permanent residency in Baku. The loans are now also given to the clients of the Gyanja, Lenkoran and Guba branches of the bank.
 
You will need a minimum package of documents to obtain your motor loan from Bank Standard.