In order to inform customers on main paragraphs of agreement and achieve transparency in provision of credit products, public consumer loan agreement for individuals on product of «Cash loan» has been placed on the web-site of VTB Bank (Kazakhstan) since May 2014.
In public agreement there are such paragraphs as loan repayment methods, interest payment methods, types of commissions related to conclusion and execution of agreement, liability and rights of parties, procedure of conducting calculations and other basic provisions governing the procedure of obtaining a loan which are fixed in the Civil Code of the Republic of Kazakhstan.
Dmitry Yakovlev, acting Deputy Chairman of the Board – Member of the Board of Subsidiary JSC VTB Bank (Kazakhstan): «We always strive to ensure that our clients have no doubt in transparency of provided services and technologies of calculating interest rates. Placing public agreement in open access, we want to optimize the process of the Bank's cooperation with customers in order to save time for signing documents. Thus, customers will learn terms and conditions of public agreement in advance and borrower will conclude only affiliation contract, which includes all of the conditions of standard, i.e. public agreement, but is much smaller in volume».
Let’s recall that «Cash loan» is provided to nationals of the Republic of Kazakhstan over the age of 22 who are ready to confirm their stable income. Loan amount is from 100 thousand to 5 million tenge for a period from 6 to 60 months. Interest rate of the loan varies from 19,5%, annual effective interest rate - from 22,5%.
SO JCS VTB Bank (Kazakhstan) - is 100% subsidiary Bank of the largest Russian OJSC VTB Bank. License of the FSA of the RK No. 1.1.259 dated 22.05.2009.
The Bank was assigned international rating at the «BB+» / «Negative» forecast level from Standard & Poor’s Agency. The branch network of VTB Bank (Kazakhstan) covers 17 cities and amounts to 24 points of sales. VTB Bank and its subsidiaries form international financial group which conducts its activities in Russian and foreign markets.
VTB Group consists of more than 30 banks and financial companies in 20 countries of the CIS, Europe, Asia and Africa. The major shareholder of VTB – is the Government of the Russian Federation (60,9%).