Sberbank: car loans to Russian citizens

Today, Sberbank is one of the largest state-owned banks in the Russian Federation. However, it should be noted that the share of issuing highly specialized credit programs in it is very small and amounts to about 5% of the total mass. In recent years, there has been an increase in the issuance of loans. The level of trust to the state begins to grow among the population, and people again began to go to Sberbank. Car loans again become popular, and its share increases every post-crisis year.

Credit programs for buying a car

To date, Sberbank provides its customers with four different program options:

• A basic car loan with a rate of 11.5 to 17% per annum;
• A special partner program with a vehicle manufacturer with a rate of 10.5 to 17%;
• Consumer loan without additional collateral - from 17 to 22.5% per annum;
• Consumer loan with a guarantee and additional guarantees - from 16 to 24.5%.

The amount of interest paid for the use of bank money depends on certain conditions offered by Sberbank. Car loans are completely dependent on certain items selected by the borrower:

• The type of the selected program;
• Term for which the contract is concluded;
• The currency in which the money is issued and in which it will be returned;
• The borrower's affiliation to the list of partners;
• Car category and the salon in which it is purchased.

In some cases, you can rely on preferential car loans. Sberbank provides a minimum interest rate of 10.5% in the case of buying a new car "Lada" from the manufacturer in the Russian Federation. In addition, the borrower must be issued a social or salary card of this financial institution.

Sberbank of Russia - car loans and its features

It should be remembered that the loan for buying a vehicle is included in the concept of consumer lending. That is why it is so important to understand the differences between the programs that Sberbank provides . Car loans for the first two options is a special loan (a basic car loan and an affiliate program), and for the last two - non-target loans (consumer loans without additional security and consumer loans with additional collateral and a surety). Although the basic and affiliate programs provide very favorable conditions, you can buy a car for them only in certain car dealerships-partners of the bank. It should be clarified that Sberbank works with only twelve manufacturers, among which there are no popular brands such as Toyota or BMW.

The maximum amount you can count on

For all credit programs provided by Sberbank, car loans are most limited by the limits. First of all, the borrower is obliged to spend 15% of the money received for insurance of the property being purchased. Depending on the chosen program, the maximum amount is:

• Basic car loans - up to 5 million rubles;
• Affiliate program - up to 5 million rubles;
• Consumer credit without collateral - up to 1.5 million rubles;
• Consumer loan with a guarantee and guarantees in the form of a pledge object - up to 3 million rubles.

The amounts indicated in rubles can be issued both in euros and in US dollars. In this case, the loan rate will be a few percent less, but it will have to be repaid in the selected currency.