Bank Of Baku

Bank Respublika expands mortgage lending programme

Bank Respublika expands mortgage lending programme
# 16 February 2009 16:31 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. Azerbaijan-based Bank Respublika is expanding its mortgage lending programme.
Under the terms of the programme, he bank lends a mortgage loan for 7 years with an annual interest rate of above 17%.
The amount of a loan ranges from AZN 5 000 to AZN 250 000 with a 40% down payment. The equal monthly payment shall not exceed 50% of the holder’s paycheck.
Bank Respublika launched its mortgage programme in September 2007. Since then, it allowed AZN 21.4 million to the population.
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THE OPERATION IS BEING PERFORMED