OREANDA-NEWS. March 02, 2011. The Bank of Moscow has announced the launch of a new loan product — "Cash Loan", to replace the family of the Bank’s personal loans offered previously.

The Bank’s new loan programme is characterised by being available for a broad range of clients who can take out a loan without commission, pledge or surety and on the basis of a minimum set of documents.

The loans are extended for a sum of up to RUR 3 mln for a period of up to 5 years. At the same time the Bank has changed its approach to setting the interest rate on the loans: these are now set individually for each client, depending on creditability, and amount to from 12% per annum in rubles and from 9.5% per annum in USD and Euro.

"In step with the times, we are striving to draw as close as possible to our clients by offering new, more flexible and accessible loan programmes", commented Stanislav Stanek, Head of Retail Banking of the Bank of Moscow. "The new approach allows loans to be taken out on an individual basis, considering all our clients’ requirements. Each client may now "select" a personal loan from a broad range of options and requisite documents".