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Post Bank began to issue loans for the purchase of cottages at a rate of 4,9%

Post Bank began to issue loans for the purchase of cottages at a rate of 4,9%
Photo: pixabay.com

Post Bank began to issue loans for the purchase of cottages at a rate lower than the mortgage rate - 4,9%. This is a new loan program for the purchase of suburban real estate with a POS loan. This rate is valid only when buying a house from accredited development partners, of which there are more than three thousand in Russia.

According to the press service of the financial institution, POS loans for prefabricated houses are an alternative to mortgages and cash loans. There is no collateral here, a loan is issued with only two documents - a passport and SNILS. You can apply for a POS loan for a country house in Post Bank for up to three million rubles for up to five years. Down payment - from 10%. An application for a loan can be submitted on the bank's website, where it is possible to choose a developer, as well as directly in a construction company. The developer will select a convenient house project, calculate the cost and will accompany it until the construction is completed. A preliminary decision on a loan is received within a minute.

As noted by Andrey Pavlov, Vice President, Director for Development of the Partner Network of Post Bank, at the end of last year a pilot was conducted in four regions, which showed great interest in the new lending program. In just three months, sales in this segment of the bank increased by more than 50% compared to the same period in 2019. Mortgages are more in demand in large cities, and in small towns where the cost of real estate is significantly lower, people prefer to use cash or POS loans because of their convenience and simplicity.

Andrey Pavlov added that in July, during the high season for suburban construction, the Post Bank's number of loan applications has doubled compared to the same period last year. In general, for 2020 there were 40% more applications than in 2019. This trend should continue this year.

You can get a loan rate of 4,9% subject to a comprehensive insurance program. It includes home insurance during construction and after completion, customer insurance against accidents and loss of income. A loan for a cottage can be taken without insurance, but in this case the rate will be 9,9% per annum.

Post Bank began working in the POS lending segment for prefabricated houses in 2018 and today is the only bank that operates on a large scale in this profile at the federal level.

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