Tinkoff Group, a leading digital provider of financial and lifestyle services, is launching a new line of business: digital mortgages.
Tinkoff’s mortgage offer is the first of its kind in Russia, with the process taking place entirely online, from paperwork to loan issuance. Customers will not need to visit a bank branch at any stage of the transaction, including when requesting an electronic signature.
Initially, Tinkoff customers will be able to refinance mortgages granted by other banks. Then, by the end of 2022, Tinkoff plans to launch mortgages for primary and secondary housing.
Mortgage refinance is currently available to select customers and will be available to all Tinkoff customers by the end of Q1 2022. The refinance rate starts at 8.9%, with a maximum loan amount of 30 million rubles and a refinancing period of up to 30 years. In the first phase of the project, the refinancing options will only cover the secondary housing market.
For this initiative, Tinkoff has leveraged its experience in expanding secure digital lending (using real estate or cars as collateral) since 2019. Tinkoff is currently Russia’s No. guaranteed loans and the number of guaranteed loans it has provided.
Stanislav Bliznyuk, Chairman of the Board of Tinkoff Bank, said:
“Our customers are at the heart of the Tinkoff ecosystem. They are what we think of when we create new products to best meet their needs and help make their lives easier and more comfortable.
Mortgage credit is part of this approach. Our goal is to provide our customers with a truly convenient way to obtain a mortgage, refinance their debt and reduce their regular payments. As usual for Tinkoff, this does not require a visit to the bank: we take care of everything, and if we need to meet the customer to issue a digital signature, our representative will arrive at any time and place that best suits at the customer’s schedule. .
We are now starting to extend mortgage refinance options to our customers, with over 500,000 people already covered through our mobile app. In the first few days of offering this service, we have already received over 2,000 applications, which speaks to the strong demand we are seeing for our fully digital and very convenient product. We plan to start issuing housing mortgages in the primary and secondary markets by the end of this year. »