22.05.2022
Chicago 11, Melborne City, USA
Market

Promsvyazbank launched a new “Special Purpose Loan”: we analyze the conditions

The borrower can be an employee of one of the industries on the list – basically, these are state employees and IT specialists.

Having fallen under all possible sanctions, the state-owned Promsvyazbank carried out the terms of the loan in cash. The new product is called “Special Purpose Loan”, and it has a number of interesting features.

Basic conditions for the product:

  • borrower – must work for an employer whose OKVED relates to the field of education, healthcare, information and communications (including IT);
  • other requirements – age from 21 to 65 years old, registered in Russia, at least one year of experience, registered or living in the region where the PSB operates;
  • amount of credit – from 100 thousand to 5 million rubles;
  • term – from 1 to 7 years;
  • interest rate – from 9.9% to 19.5% per annum if there is insurance, if there is no insurance – a premium of 10 percentage points.

At first glance, the loan has a reduced interest rate – 9.9% per annum is almost impossible to get, because banks accept deposits at 13-16% per annum. But this is the minimum rate and subject to insurance. The bank, at its discretion, may choose a higher rate for the borrower – up to 19.5% per annum, even if insurance is issued.

But there are two interesting features:

  • discount up to 3% with timely repayment of the debt. If the client issues financial protection and makes monthly payments and without delay, he will be reduced by 1% per year, a maximum of 3%;
  • credit holidays. As part of this service, you can postpone 2 monthly loan payments, while the loan term will increase by the same 2 months. It costs 15% of the monthly payment, at least 2000 rubles, and is available subject to a number of conditions.

Without documentary evidence of employment and income this loan will not work. You can confirm this with an extract from the Pension Fund of Russia, a certificate from the employer (or in the form of a bank), as well as an extract from a salary account in another bank.

In general, this is an ordinary consumer cash loan on standard terms (the total cost of the loan, according to the official document of the PSB, is from 19.9% ​​per annum). At the same time, the possibility of lowering the rate with conscientious repayment of the loan looks interesting, and credit holidays from the bank are a good alternative to state credit holidays.

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