Rustamov said that as the consumers received many different consumption loans, it was observed a banking temperature: “In order to eliminate this, the rules on car and consumer lending have been changed, down payment on the new vehicles rose, at the same time, the persons applying for consumer loans should submit reference and other documents and their revenues should be known”.
He said that earlier, the banks gave loans under simple conditions but high interest rates as the population’s ability to pay was lower: “Now, we recommended to reduce interest rates. The banks will not require high interest rate showing population’s lower ability to pay as a cause“.
Rustamov also said that it’s still unknown how much the interest rates will be reduced.
Follow us on Telegram
t.me/apanewsaz
Follow us on Instagram
Follow us on TikTok
Follow us on Facebook
Follow us on X
