Unibank expected to ensure over 50% growth of auto loan portfolio in 2010

26.03.2010

ArmInfo. Unibank has reduced interest rates on its auto loans, Unibank
press-service told ArmInfo. Thus, the interest rate on the auto loan
in the amount of 7 million drams is 15%, on the loans in the amount of
7-15 million drams – 17%.
Prepayment is 20% and maximum loan maturity is 60 months.

To buy a more expensive car, a client is offered an overdraft against
car in terms of the US dollars. The annual interest of the loan in the
amount of $100,000 is 15%-17% and prepayment is 30%. The source
reported that Unibank is always among the leaders in the auto loan
market. In 2009 the bank ranked the first in the given market by the
volume of auto loans. Demand for Unibank’s auto loans is high thanks
to its client-oriented lending programs. Prior repayment of loans is
possible without any restrictions and fines. As of March 1 2010 the
auto loan portfolio of Unibank amounted to nearly 8 billion drams. In
2010 Unibank is expected to ensure over 50% growth of auto loans and
maintain its leading positions in the given market.