Sberbank cuts Far-Eastern Mortgage rates

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AK&M 14 January 2021 19:59

Sberbank is cutting rates on the Far-Eastern Mortgage offering by 0.7 pp. Residents of Russia's Far East can take out a mortgage at 1.3% p.a., and when a deal is signed online, the rate is 1% p.a., the bank informed.

The offering is available to families where both spouses are 35 years old or younger and to non-married partners aged 35 or younger who have a child aged 19 or younger.

Soft loans will be provided to buyers of apartments in new buildings, those who're building a single-family house in the Far-Eastern Federal District, those who're buying second-hand housing fr om entities or individuals if the said real estate is located in the rural areas of the Far-Eastern Federal District, Magadan region, and Chukotka autonomous area.

The lending term is limited to 20 years and 2 months and the borrowing lim it is RUB 6 mn. Down payments start from 15%.

Soft mortgage loans are available until December 31, 2024. In Magadan Region and Chukotka Autonomous District, mortgages on the secondary market are available until December 31, 2021.

Sberbank of Russia (tax number: 7707083893) is the largest bank in Russia, Central and Eastern Europe. The Bank is the principal lender to the Russian economy and has the highest share in the market of deposits. The bank's authorized capital is RUB 67.76 billion. It consists of 21,586,948 thousand common shares and 1 billion preferred shares with a face value of 3 rubles each. The Russian Federation represented by the Ministry of Finance owns 52.32% of Sberbank's total voting shares.