Mortgage lending in three quarters of this year reduced the price by an average of 1.36 %
BAKU/12.11.13/TURAN : Authorized banks of the Azerbaijan Mortgage Fund ( AMF) under the Central Bank of Azerbaijan, issued during the first 9 months of this year, loans of 82 million manat, which is 35.8 million or 78 % more than in January - September 2012 .
According to the Central Bank of Azerbaijan , the average lending rate from the beginning of the year decreased by 1.36 percentage points , and in September rose by 0.10 percentage points to 5.64 %. The average credit period with respect to the previous month remained at 288 months.
The average for the monthly payment in January -September decreased by 7.2 % to 294.4 manat, the same indicator for the amount of loans increased by 14.2 % to 44.208 thsd 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. - 15B -
Economics
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