OREANDA-NEWS. November 10, 2014. Sberbank announced the launch of its special offer “Secured Loan” with reduced rates. “Secured Loan” offers new Sberbank clients a 1% discount on current mortgage rates. To be eligible the client must have life insurance and disability insurance policies.

The “Secured Loan” offer applies to all of Sberbank’s mortgage programs, including special offers.

The lowest rate on mortgage loans for existing housing has been lowered to 11%, and for apartments in new developments – 12%.

Following the launch of “Secured Loan,” rates for purchases in new developments or existing housing vary from 11-16% depending on borrower category and preferred loan terms. You can learn more about the terms on the Sberbank website.

“With the development of the insurance market in Russia and increasing financial literacy, life insurance and disability insurance have become increasingly popular among borrowers. This is particularly true of long term loans – people want to protect themselves and their loved ones from unforeseen circumstances,” commented Director of Sberbank’s Non-Transaction Retail Product Department, Natalia Alymova. “By offering reduced rates on loan products to clients who purchase insurance policies Sberbank is making their offer more attractive and client oriented.”

Between 2010 and September 2014 1.8 million Russian families were approved for mortgage loans at Sberbank. During this period the Bank issued mortgage loans worth RUB 2.3 tln. Sberbank of Russia’s mortgage loans portfolio exceeded RUB 1,777 trln on October 1, 2014, a 28% increase since the beginning of the year. The Bank issued new loans worth RUB 643 bln in the first nine months of 2014, exceeding the figure for the same period last year by 52%.