OREANDA-NEWS. January 24, 2011. The total amount of cash consumer loans issued by VAB Bank in December 2010 saw an over 2-fold growth versus November while the overall volume of new issues went up 3 times making UAH 30 million the last December, reported the press-centre of VAB Bank.

“After a 6 month market assessment period aimed to check demand for this product among customers having positive credit history with VAB Bank we were able to make an offer to a mass segment already in December.  Processes verified in the course of the assessment not only reduced risks related to the new issues but also resulted in a short decision making time being a principal competitive advantage in the cash lending market.  It now takes VAB Bank no more than 15 minutes to process a cash loan request: thus we save client’s time, which is of particular importance for a contemporary individual,” Mr. Anton Shaperenkov, VAB retail business marketing department head, explained.

The Bank offers up to UAH 30 thousand at 20% p. a. for ongoing needs.  Monthly loan administration fee is 1.5% at a maximum borrowing term of 3 years.  As yet another essential factor, no earning certificate is required to borrow up to UAH 20,000.

“Furthermore, we have made a number of bonus offerings to loyal customers to motivate them even stronger to this product,” Mr. Shaperenkov continued.
 
For instance, interest rate for borrowers having positive credit history with VAB Bank is 5% lower.  A privileged tariff is also offered to those receiving salary through VAB Bank: their discount is 3%.  Besides, the programme provides no extra commission for early repayment.