In Azerbaijan, loans for electric and hybrid cars with low initial payments have been started.

"APA-Economics" reports that initially "Kapital Bank" is preparing to launch a new loan product on the market.

Director of the Bank's Retail Sales Department, Mahammad Ibrahimov, informed about this.

He said that the volume of the proposed loan is 100,000 manats.

The term of the loan will be 48 months, the initial payment will be 10%, and the interest on the loan will be 7%.

Rufat Abbasov, Director of the Retail Banking Department of "International Bank of Azerbaijan" OJSC, said that he will offer a loan for environmentally friendly vehicles at 13% interest for 24 months, and 14% for 24-60 months.