OREANDA-NEWS. August 18, 2011. Interest rates start at 10.50% APR and are calculated individually for each borrower depending on his or her credit history and ability to meet payments, reported the press-centre of Uniastrum Bank.

Uniastrum Bank now offers a general-purpose loan with rates determined on a per-customer basis using risk-based pricing – a methodology that assesses the borrower’s credit history and the probability of default with the wider objective of offering creditworthy customers easier terms.

Under the new program, borrowers can access credit of up to Rb 600,000, repayable over a period of 3 years. Along with the loan, customers automatically receive a Visa Electron card. Conspicuous benefits offered by Cash Access credit include competitive interest rates, a hassle-free application process, and convenient payment options.

Borrowers are not required to take out life or employment insurance and no fee is charged for full or partial early settlement. Customers with Uniastrum payroll cards or with a positive credit history, as well as employees of reliable borrower organizations or those partnering the Bank under corporate sales schemes are able to take advantage of the lender’s cut-price loan terms. The credited funds are repayable by fixed monthly installments, which can be made at any Uniastrum branch, via self-service kiosks, or using QIWI and Elecsnet payment terminals. For more details visit http://www.uniastrum.ru/personal/crediting/customer/affordable/

“Risk-based pricing allows us to offer our clientele not only competitive but also fair borrowing terms,” says Vasily Kuznetsov, Deputy Chairman of Uniastrum’s Management Board. Under the system interest rates are set individually, which means that customers with a good credit history can take out personal loans on highly competitive terms.”

* Depending on individual borrower parameters, and credit terms, interest rates range from 10.5% to 20.5% for a loan period of 1-12 months, 14.7% to 22.5% for 13-24 months, and 18.7% to 26.9% for 25-36 months. The arrangement fee is 2% of the principal amount and payable on the day the loan is issued. For Bank employees, customers with Uniastrum payroll cards, customers with a positive credit history at Uniastrum Bank, employees of organizations with a reliable borrower history at Uniastrum Bank, as well as employees of organizations partnering the Bank under corporate sales schemes, the arrangement fee is waived.

For borrowers aged 60-65 credit is issued on condition that he or she takes out a life insurance policy. Insurance must be taken out with a company meeting the requirements of Uniastrum Bank in respect of insurance organizations; interest charged on the loan increases in proportion to the cost of the insurance. The credit is issued by transfer of the borrowed funds to the card of the borrower; in cases where cash is issued a fee may be charged commensurate with the tariffs charged by the organization owning the terminal or the ATM, or the bank servicing the transaction. The credit may be repaid via a terminal owned by Bank partner organizations, for which a fee may be payable commensurate with the tariffs charged by the organizations owning the terminal or the ATM, or the bank servicing the transaction.