The project will let clients take out loans of up to RUB 300,000 without providing proof of income. Loan applications can be submitted in branches and also via the web version of Sberbank Online. This pilot will run until 14 October. It coincides with another consumer lending offer: loans at a minimum interest rate of 11.7%. 

Sergey Shirokov, Managing Director of the Borrow and Save Division: 

“Sberbank’s aim is to provide clients with the best possible service. One of our strategic goals is making the lending process as simple and convenient as possible. During this pilot we will not ask clients to provide 2-NDLF (income tax) statements or other proof of income. Instead we will collect data from other sources, which clients should provide permission to process. We will put this data through models and complex analysis algorithms when deciding whether to provide lending to clients. We hope that this will save clients’ time as they will no longer have to obtain proof of income from their employers.”