Kredobank plans to reduce its interest rates on loans to individuals for the purchase of residential property.

The bank is offering a promotional interest rate for the first three years of the loan agreement fixed at 15 percent per annum.

Promotional terms of the loan can be found in at one of the Kredobank's branches throughout Ukraine.

According to chairman of PJSC Kredobank Dmitry Krepak the bank lowers the interest rates on real estate in order to make buying a home more accessible for Ukrainian families.

"Reducing fixed and variable interest rates on housing loans is the first step to a European level cost mortgages," Krepak said. "I hope that the proposal to fulfill his dream of a trusted bank with a European Capital will use a lot of Ukrainian."

Kredobank's basic mortgage terms provide a fixed interest rate of 18 percent per annum for the first year.