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Dear Customers of “Kapitalbank” JSCB!

Taking into consideration the difficult situation of family income distribution in terms of declining incomes, and forced self-isolation, we have decided to support our borrowers, who have credit obligations to the bank, but currently do not have a stable source of income.

The Bank announces repayment holidays until September 01, 2020, for borrowers - individuals, to pay the principal loans (received before March 15, 2020).

Repayment holidays will be provided to borrowers who, as of April 1, 2020, have no overdue loans and no overdue liabilities for obtaining collateral and insurance policy.

During a repayment holiday, interest payable on a monthly basis on the dates specified in the contracts is accrued on the balance of the principal. Borrowers are not exempted from paying interest during the repayment holidays.

If you are willing to continue to repay loans in compliance with the previously approved schedule, the bank will not mind if the borrower makes payments in excess of the accrued interest during a pandemic, the proceeds will be used to repay the principal, thereby repaying the loan (microloan) in the early terms established in the contract.

Fines and penalties are not applied for overdue payment of interest during the repayment holidays. Herewith, everyone who is willing to take advantage of repayment holidays within the term by September 30, 2020, has to sign an application for deferred payments on their principal and an additional agreement to the contract.

Current conditions for payment of principal and interest will be applied to the contracts if the Borrower does not sign or refuses to sign documents on providing repayment holidays.

«Kapitalbank» processes loan applications even faster

«Kapitalbank» has developed and launched the «Scoring» system of analysis and the “Underwriting” of borrower. It sounds difficult, but it's actually very simple.

Scoring is a system of assessing solvency of clients, which is based on statistical methods. As a rule, this is a computer program where a potential borrower’s data are entered. The program assigns “points” to bona-fide borrowers, raising their rating, and imposes a fine to debtors by reducing these “points”. The name “Scoring” comes from the English word “score”.

The scoring model allows to instantly receive information about a client (only with a client’s consent). Based on the client's rating, the Bank makes a decision to issue a loan.

As for the “Underwriting”, this is an assessment of credit risks, which also affects the decision to issue a loan.

Such strange concepts, which can be seem at the first glance, imply considurable advantages for the customers.

The things which are now done using the “Scoring” and “Underwriting,” used to be done manually and therefore took more time. The clients’ profiles might be reviewed for days, but now the decision to issue or reject is made in 5-10 minutes after automatic data processing.

The Scorring completely eliminates the human factor. The processes are impartial and objective. No “personal” relationship may affect the decision of the program.

The processes collect extensive data and structure it more carefully - this helps to make more interesting proposals to creditworthy customers.

“Kapitalbank” implements the latest systems and technologies to provide the clients with the best possible service. Follow the news and learn about innovations in the banking sector together with “Kapitalbank”.


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