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Center-invest Bank Launches Unique Mortgage Product

Center-invest Bank has launched a new mortgage product with an interest rate of 10% per annum. This rate is lower than that offered by our competitors. The average mortgage rate in Russia is 13-14%.

Our new product is a ruble-denominated mortgage loan with a term of up to 20 years. It is provided as part of a government programme to support mortgage lending, and it is specifically for new-build properties. The minimum deposit is 50% of the purchase price.

“Our 10% per annum mortgage product is unique for southern Russia. It is the cheapest and most advantageous available,” says Nikolai Paramonov, head of retail lending at Center-invest Bank. “We are sure that this product will help many families to improve their living conditions or acquire assets in the form of real estate. Today, every fifth mortgage in the Rostov region is provided by Center-invest Bank. With a rate of 10% per annum, we should achieve a new record.”

In 2015, 39,000 people in southern Russia took out a loan from Center-invest Bank, borrowing more than RUB17.5bn in total. In the first quarter of 2016 demand for mortgages tripled. Mortgage lending now accounts for 40% of the bank’s retail loan portfolio.

When assessing the borrower’s ability to repay, as well as the joint income of spouses, Center-invest Bank takes into account the income of the borrower’s immediate relatives (parents or children). It also considers additional income from secondary employment, rent payments, regular insurance payouts, bonuses, and pensions. The bank works with various government subsidy and welfare programmes.

None of our loan products require borrowers to take out life insurance or buildings insurance, and there are no hidden fees or unnecessary payments.

Customers can apply for a loan online at or at any Center-invest Bank branch.