Yerevan /Mediamax/. “Cascade Bank” announced reduction of interest rates for loan products.

Mediamax was informed in Marketing Department of “Cascade Bank” that the basic interest rate for business loans in USD is established at the volume of 11% instead of the previous 13%. From now on, business loans will be issued in national currency as well with the basic interest fate of 13%.

For car loans, they have established interest rates at the volume of 15-18% instead of the previous 17-20%. Within the framework of cooperation with KIA Motors, the prepayment for the car loans will make 5%.

For mortgage loans, they have established the following interest rates: purchase of apartments and houses – 13-15%, instead of the previous 14-16%, loans for real estate repair – 18% instead of the previous 22%. Within the framework of cooperation with Glandale Hills Construction Company, the bank will issue loans for purchasing apartments in the new buildings at the annual interest rate of 13%.

Besides, the bank has resumed issue of loans for purchase of heating systems at the annual interest rate of 22%.