Yandex.Market has launched a lending service for its customers. Tinkoff Bank became the first partner of the marketplace from the side of banks.
You can apply for approval of a loan in the amount of 3 thousand to 200 thousand rubles and for a period of 3 to 24 months at the time of order, the rate starts from 18% per annum and depends on the selected period.
Recall that Yandex has been announcing plans to develop its own fintech business for several years now. In September 2020, the company even negotiated the purchase of TCS Group (the parent structure of Tinkoff Bank) for $ 5.48 billion, but the deal did not materialize.
Note also that Yandex already has access to its own banking license. In mid-July, the company closed the deal for the purchase of Akropol Bank. As a result, Yandex became a 100% shareholder in the bank and received all Acropolis licenses, including a universal banking license.