OREANDA-NEWS. August 26, 2010. The Bank of Moscow has introduced changes into its retail lending programmes. These changes concern the established form of confirmation of borrowers’ incomes.

Now presentation of a 2-NDFL (Personal Income Tax) certificate is no longer mandatory when applying for a loan (Personal Loan, QUICKloan, Car Loan, Mortgage). The borrower’s income may be confirmed through presentation of a certificate of income executed according to the Bank’s adopted form.

"The Bank of Moscow was one of the first banks to announce in the autumn of 2009 the modernisation of its retail lending programmes', – says Dmitry Breitenbeekher, the Managing Director of the Private Banking Department. – We have been systematically reducing the retail lending rates and the initial payment amount for Mortgage loans. Our next step towards further development of the Bank’s retail lending programmes is our new offer for our clients: if, for any reason, the borrower is unable to produce a 2-NDFL certificate, the Bank is ready to accept a certificate of income executed according the Bank’s adopted form in confirmation of the borrower’s income. We have thus almost completely reverted to the pre-crisis terms of retail lending".

Allow us to remind that in the autumn of 2009 the Bank of Moscow announced the introduction of retail lending programmes significantly reducing the retail loan rates and simplifying the loan application terms.