BAKU/06.09.13/TURAN : Authorized banks of the Azerbaijan Mortgage Fund (AMF ) under the Central Bank of Azerbaijan issued within 7 months of this year, loans to 73.3 million manat, which is 33.5 million or 84.2 % more than in January - July 2012 .
According to the Central Bank of Azerbaijan , the average lending rate from the beginning of the year decreased by 0.64 percentage points, and in July rose by 0.06 % to 6.36 %. The average credit period reached a historic high of 287 months.
Average of monthly payments in January and July decreased by 4.9 % to 301.5 manat, and the same indicator for the amount of loans increased by 9.9% to 42,567 manat.
AMF agents are 28 local banks. Mortgage loans are issued to citizens of Azerbaijan in the amount of up to 50,000 manat for up to 25 years at a rate no higher than 8%. Concession loans are granted at a rate of up to 50,000 manat for up to 30 years at a rate of 4% per annum. - 15V -
Economics
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