Sberbank, a Russia-based lender, has unveiled a new campaign in the country that allows borrowers to receive consumer loans at fixed interest rate of 14.5% per annum.
The campaign, which will be run through 15 February 2014, will be available for all borrowers of the bank. The lender is 50% owned by the Central Bank of the Russian Federation.
The loan offered will be applicable for a period of 3-12 months and for a sum of at least RUB150,000 ($4,690).
Sberbank of Russia retail lending department director Natalya Alymova said traditionally, as they approach New Year, the bank offers its borrowers an opportunity to take out a consumer loan on the special terms.
"This year we are launching this campaign a little earlier to give our customers enough time before the New Year to implement their plans and to prepare for the holiday," Alymova added.