Car loan conditions:

1. The loan is provided to residents and non-residents, who have a work permit, permanently registered in Baku, Sumgayit or any other town within the country where Bank of Azerbaijan has a branch;
2. The loan maturity is up to 18-24 months;
3. The borrower must make a down payment in the amount of 30-40 %- percent of the car’s price;
4. The interest rate for a car loan is 24-26 % annually;
5. The borrower repays interest on the outstanding loan amount and part of the principal amount through annuity schedule;
6 Cars financed by the Bank: VAZ - only new cars; purchases of other qualifying cars may be financed but the car must not be more than 10 years old.

Non-CIS-made cars (new):
- Theloan ammount is up to 70% of total cost of car
- The loan maturity is up to  24 months
- The interest rate for a car loan is 24% annually;
Non-CIS-made cars (second hand, issued in recent 10 years):
- Theloan ammount is up to 60% of total cost of car
- The loan maturity is up to  18 months
- The interest rate for a car loan is 26% annually;
Cars made in Russia (new):
- Theloan ammount is up to 70% of total cost of car
- The loan maturity is up to  18 months
- The interest rate for a car loan is 26% annually;

Opening of a credit account – 0.1 %
Cash payment of car loan – 0.6 % of the total amount.

Documents required for the loan:
1. Copy of the borrower’s ID;
2. Letter from the employer (indicating salary and position);
3. Borrower’s sample signature;
4. Application (Form №2);
5. Letter of requesting a loan;
6. Car purchase and sale contract or invoice;
7. Other documents related to the loan.
Additional documents:
1. Document on car insurance;
2. Certificate of registration of the collateral (the car) with the State Traffic Police;
3. Copy of “technical passport” (registration document) of the car.