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JSCB Absolut Bank

2016-07-25

JSCB "Absolut Bank" has been operating in the credit and financial market since 1993. The bank is one of the 40 largest banks in the Russian Federation in terms of assets. Carries out activities on the basis of license №2306 of the Central Bank of the Russian Federation from 2002.

 

Key performance indicators

Universal commercial "Absolut Bank" demonstrates high indicators of financial stability, which are confirmed by the results of the rating assessment by Moodys and Fitch Ratings. The banks shares are owned by United Credit Systems OJSC. The world-renowned Ernst & Young provides auditing services. As of January 1, 2016, the size of the banks authorized capital was estimated at 2.98 billion rubles. The volume of assets (December 2014) amounted to 240.2 billion rubles. The bank demonstrates high indicators in its creditworthiness. According to rating agencies, Absolut Bank is one of the ten largest financial institutions working in the area of mortgage lending.

 

Service directions

As of 2015, the bank has 14 branches, as well as more than 30 offices that operate in 16 regions of Russia. The number of corporate clients exceeds 38 thousand. The banks activities are focused on providing services to SMEs, introducing new and profitable products in the retail market, among which special attention is paid to mortgage lending. The financial institution places particular emphasis on serving premium customers. A wide range of services is aimed at developing traditional banking services. For example, Absolut Banks card is presented in classic and premium segments, and credit programs are developed taking into account the requirements of various segments of the population.

 

Serving strategic enterprises

In addition to serving the corporate sector, Absolut Bank offers solutions for all economic sectors, from the cosmetic segment to the metallurgy and oil industry. By the decision of the Russian government, the Central Bank provided the Absolut Bank with the opportunity to service cash accounts of the defense industry and other state facilities that are of strategic importance and ensure the countrys security.

As part of lending to individuals, the bank offers mortgage programs, consumer finance and loan restructuring.

 

Lending to individuals: mortgage programs

To obtain a loan for the purchase of housing, regardless of the amount and timing of the provision of funds, Absolut Bank requires a standard package of documents. In addition to the main document of each citizen, a copy of the work book, a taxpayer code and a certificate confirming income, which can be in a free form or in a standard form established by the bank, are required. After collecting the package of documents, the borrower must visit the regional office. Consideration of the application takes a minimum of time. Currently, the best option is to apply through Absolut Bank online, which will save a lot of time. As a rule, e-mails are considered promptly and the client can expect to receive a response within 1-2 days.

As of 2016, Absolut Bank offers better rates than the largest Russian banks. The reason lies in the popularity of large financial institutions that are trusted by the population and do not seek to attract new customers with low interest rates. The bank offers a number of mortgage programs with favorable rates, which are focused on the primary and secondary real estate market. In turn, business is presented with favorable terms for lending purchases of commercial and industrial facilities. Lets consider some current programs.

"With state support." The mortgage provides a rate of 11.45%, but its final size is formed depending on the risk insurance. Therefore, the clients health insurance should be added to the rate on debt financing from JSCB "Absolut Bank" in the amount of 1% to 1.5%. 1% is provided if the borrowers age does not exceed 45 years. Also, mandatory conditions for mortgage lending are insurance of risks associated with the possibility of loss of real estate - 0.4%, as well as loss of ownership rights - 0.12%.
The loan term cannot exceed more than 30 years, and the amount of money is 8 million rubles (Moscow, St. Petersburg). For regions, there is a maximum limit of 3 million rubles. The initial payment must be more than 20% of the value of the property. The credit line of Absolut Bank within the framework of this program is focused exclusively on the primary housing market.

"Finished Housing" - the secondary market. Rate - from 13.2%, subject to depositing funds in the amount of 50% of the value of the property. In other cases - 13.45%. The maximum amount is 15 million (Moscow, St. Petersburg), regions - 9 million rubles.
"New buildings". The rate is from 13.95%. The maximum amount is 9 million, regions - 5 million rubles.
"Apartments" - secondary market. Rate - from 13.45% subject to depositing funds in the amount of 15% of the property value. With a 50% deposit - 13.20%. The maximum amount is 15 million, regions - 9 million rubles.
Under the Commercial Mortgage program, clients can use a loan for 10 years. The rate ranges from 17.45% to 19.9%. The maximum amount is 15 million rubles.

To calculate the size of the mortgage on the official website of JSCB "Absolut Bank" online calculator is presented, which within a few minutes will present the client with a complete payment schedule, taking into account all the nuances.

In almost all cases, a real estate object acts as collateral. However, this condition is optional. The client can offer a financial institution other types of real estate that have an appropriate value or provide a certificate confirming the existence of maternity (family capital). JSCB "Absolut Bank" offers special conditions within the framework of this program with a rate that ranges from 12% -13%.

 

Cash lending

Absolut Bank clients in the direction of debt financing can take advantage of two key offers:

loan without collateral;
provision of funds secured by real estate.
In the first case, namely, when lending without collateral, to clients who do not fall under preferential terms, the amount of allocated funds can range from 50 thousand rubles to 1 million. The interest rate depends on the borrowers insurance and the term for providing funds. So, with client insurance and for a period of debt financing up to 3 years, the rate is 22.5%. When lending to a borrower without insurance, the rate exceeds 25%.

For clients who have a salary card of Absolut Bank, the rate will be from 16.5%. So, the employees of Russian Railways are allocated funds at 16.5% -19% in the amount of up to 700 thousand rubles.

For employees who are on cash register offices and other clients who fall under the loyalty program, the rate is presented in the range of 20% -23.5%.

The category of "loyal customers" includes persons who have deposits in the bank, positive experience of cooperation with a financial institution. This category includes persons who have used lending services with timely debt repayment. It also includes employees of companies that use the Absolut Bank card to generate income within the framework of salary and other projects. In cases where the loan amount exceeds 600 (in some cases 700) thousand rubles, a surety is a prerequisite.

On the security of real estate, clients can receive inappropriate funds in the amount of up to 15 million rubles. Credit conditions and registration of the package of documents are standard. The minimum amount allocated under the program is 500 thousand rubles. The amount of funds cannot exceed 70% of the total value of the property. On the official website of the bank, you can calculate the full cost on a calculator by filling in all the required fields. Also, clients can get advice through the Absolut Bank system online, presented in the form of an express application. According to the terms of the loan, the rate is 15.5%. At the same time, as well as when registering a mortgage, a package of insurance services is provided, which is confirmed every year. The loan is issued up to 15 years. The maximum amount for the regions cannot exceed 9 million rubles.

Loan restructuring

All types of debt financing, which are positioned by Absolut Bank, provide for restructuring. The reason for the restructuring may be the deterioration of the financial position of the borrower, caused by economic and social reasons, as well as personal circumstances.

As part of the restructuring, a rate cut for a certain period, an increase in the term of the borrowers loan obligations and the provision of a grace period are provided. All details on the issue of restructuring credit obligations can be asked to specialists through Absolut Bank online, by telephone or directly at the regional branch of the bank.

JSCB "Absolut Bank" allows to implement successful projects for individuals, legal companies, other financial institutions, acting as a reliable financial platform. At the same time, for individuals who live in remote regions, the problem is the insufficiently developed regional network of branches and offices of the bank.