Converse Bank increased the rates on loans secured by gold
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Author
Alexandr Loscinin
Source
AFMTopic
Secured Loans, Converse Bank, Financial News
Converse Bank announced changes in the terms and conditions of loans secured by gold jewelry. From April 24, 2025 both nominal and effective interest rates on this product have increased.
New terms and conditions for loans secured by gold:
- Nominal rate: increased from 18% to 18.5% per annum.
- Effective rate: increased from 19.76% to 20.57% per annum.
The increase in rates is explained by changes in market conditions and the bank's internal credit policy. Reminder, a loan secured by gold is a convenient way to quickly get cash without providing certificates of income or guarantors. Gold jewelry is accepted as collateral, which allows you to get a loan in a short period of time.
The main parameters of the loan against gold collateral in Converse Bank:
- Loan amount: is determined depending on the estimated value of the pledged property.
- Loan term: usually from several months to a year with the possibility of prolongation.
- Repayment: both monthly payment schedule and one-time repayment at the end of the term are possible.
Changes in rates will affect both new and existing customers when prolonging or revising the terms of the loan agreement.
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