Raiffeisenbank Bulgaria launched a new credit called Autocredit. The new credit is in support of purchases of new and up to 2-years used cars, trucks and vans from authorised importers or car dealers. The maximum amount of the autocredit is set at 120,000 euro and the bank funds up to 85 pct of the car sale price. The bought car serves as collateral for the credit. The bank will reply in five business days whether an application for credit is approved. The repayment period is up to 48 months and the interest rate ranges between 8.5 pct and 11.5 pct depending on the credit's repayment term.