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Raiffeisenbank updates mortgage terms

Raiffeisenbank will offer new mortgage terms effective from 1 June 2010, with rouble interest rates reduced by 0.5-1%.

According to the new terms, the mortgage rate on the secondary real estate market will be 14% annually, while mortgages secured with the borrowers property will be offered at a 14.5% annual rate and general-purpose consumer loans secured by the borrowers property will be offered at 16.5% per annum, subject to proof of income as confirmed by a 2-NDFL tax form (individual tax return) and insurance against the following risks, including: death and professional disability, destruction, loss or damage of real property and/or loss of title. Without insurance against death, professional disability or loss of title, rates will be 17%, 17.5% and 19.5% per annum respectively.

Moreover, fees on loans for real estate purchases in the secondary market and real estate purchases secured by the borrowers property are reduced to 1%, while the fee for general-purpose consumer loans secured by the borrowers property are reduced to 1.5% of the loan principal.

A special offer is also available to employees of Raiffeisenbanks corporate customers and to Premium clients. From 1 June, interest rates on rouble and USD-denominated loans will be further reduced by 0.5%, to 13.5% and 10% per annum for real estate purchases in the secondary market; 14% and 10.5% p.a. for mortgage loans secured by the borrowers property; and 16% per annum for general-purpose consumer loans with income confirmed by the 2-NDFL individual tax return, with insurance against the following risks: death and professional disability, destruction, loss, or damage of real property, and loss of title. Without insurance coverage against the risks of death, professional disability, or loss of title, rates will be respectively 16.5% and 17.0%; 19.0% and 13%, and 13.5% per annum.

Interest rates are not dependent on the down payment or effective term of the loan.

For clients in Moscow and the Moscow Region taking mortgage loans from 1 June through 31 July 2010 there is a special competitive offer: Celebrate your Move to a New Home. The winner will receive a certificate to purchase a new kitchen from ForemaKitchen.

Changes in Raiffeisenbanks mortgage terms will be effective simultaneously across all regions where the bank is active.

Detailed terms for all of Raiffeisenbanks mortgage programmes are available on the banks official Web site at: Raiffeisenbank Mortgage loans.

ZAO Raiffeisenbank is a subsidiary of Raiffeisen International Bank-Holding AG. Raiffeisenbank is ranking 9th in terms of assets among the Russian banks based on Q1 2010 results (Interfax-CEA). According to Interfax-CEA, ZAO Raiffeisenbank ranked 5th in Russia in terms of private deposits and 9th in consumer lending in Russia based on Q1 2010 results.

Raiffeisen International operates one of the largest banking networks in CEE, covering 17 markets across the region through subsidiary banks, leasing companies and a range of other financial service providers. The groups nearly 56,000 employees service around 15 million customers via more than 3,000 business outlets. Raiffeisen International is a fully-consolidated subsidiary of Raiffeisen Zentralbank Osterreich AG (RZB), which owns about 70 per cent of the common stock. The remainder is in free float, with the shares listed on the Vienna Stock Exchange. RZB is a leading corporate and investment bank in Austria and the central institution of the Austrian Raiffeisen Banking Group, the countrys largest banking group.


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