Octobank has started offering new products in the field of mortgage and auto loans to individuals. The bank introduced three different offers: the 'Mortgage' program for real estate purchase, 'Auto Loan 1.0' designed for purchasing new cars, and 'Auto Loan 2.0' focused on used vehicles.
Representatives of Octobank stated that this expansion is an important step in the development of the bank's retail segment. The goal of launching mortgages and auto loans is to meet the basic financial needs of clients, helping them achieve goals such as buying housing or a car.
Mortgage loans at Octobank can be used to purchase apartments in new buildings, secondary market housing, as well as land plots intended for construction. The main parameters of the program include a loan term of up to ten years and a requirement for a down payment of at least twenty percent. The interest rate is 22% per annum if the down payment is between 20% and 49%, and the rate decreases to 20% per annum with a down payment of 50% or more.
For clients participating in the Octobank salary project and employees of the bank's corporate clients, a special promotional rate of 18% per annum is available until December 31, 2026. More detailed information about this promotion is available on the bank's official website.
The bank offers two auto loan programs. 'Auto Loan 1.0' is intended for purchasing new cars from authorized dealers in Uzbekistan, while 'Auto Loan 2.0' is designed for used cars. Both programs allow for loans in the national currency, and repayment can be made either through annuity or differentiated payments.
Both programs have an interest rate of 24% per annum, but for participants in the Octobank salary project, the rate is reduced to 21% per annum. There are no limits on the loan amount, and the term of issuance can reach 60 months, including a one-month grace period. Down payment requirements differ: 'Auto Loan 1.0' requires a down payment of at least 25% with financing up to 75% of the cost, while 'Auto Loan 2.0' requires a down payment of at least 40% with financing up to 60% of the vehicle's cost.
The central government clarified on Thursday that premium gasoline sold by state-owned oil companies does not contain an ethanol additive. Furthermore, it was stated that there are currently no decisions regarding blending more than 20% ethanol into gasoline, and there are no proposals to resume supplies of E0 or E10 gasoline.
Oil and Natural Gas Minister Suresh Gopi provided this information in a written response in Lok Sabha. He stated that premium fuel types such as XP100 from Indian Oil, poWer100 from Hindustan Petroleum, and Speed100 from Bharat Petroleum do not contain ethanol. These special fuel types include special additives to ensure better performance and account for about 0.5% of the total gasoline sales volume in the country.
The cost of these premium gasoline types is approximately 160 rupees per liter, whereas regular gasoline costs about 102.12 rupees per liter. Currently, regular gasoline contains up to 20% ethanol.
Suresh Gopi emphasized that any decision to add more than 20% ethanol to gasoline will only be made after conducting detailed scientific and technical research. This process will involve consultations with vehicle manufacturers, oil trading companies, and research institutions.
The government has directed state and private oil companies to ensure the availability of gasoline blended up to 20% ethanol in all states and union territories of the country. Under the ethanol blended fuel program, gasoline blended with ethanol having a minimum octane rating of 95 RESEARCH RON was also approved starting April 1, 2026.
According to the government, there have been no mass confirmed complaints from vehicle manufacturers, automotive associations, or consumer groups regarding E20 gasoline. Laboratory tests, field trials, and operational data have shown that E20 fuel does not have a widespread negative impact on engine reliability, performance, or vehicle lifespan.
The Minister noted that over 20 million two-wheelers and more than 30 million passenger cars operating on high-ethanol content fuel are in use in the country. To date, no confirmed data has been presented regarding mass engine failures due to ethanol blending.
Regarding the non-resumption of E0 or E10 gasoline supplies, the government cited logistical difficulties. The government stated that maintaining a separate supply system for E0, E10, and E20 gasoline at over one hundred thousand petrol pumps across the country would significantly increase transportation, storage, and fuel management costs.
It should be noted that E0 denotes gasoline without ethanol, while E10 contains 10% ethanol. E20 gasoline consists of 80% gasoline and 20% ethanol. Currently, E20 gasoline is supplied to over one hundred thousand petrol pumps across the country, while premium gasoline is available only at select petrol pumps.
Suresh Gopi stated that the goal of the government's policy is to move towards cleaner and higher quality fuel, not to revert to old standards. He added that E20 fuel was adopted after scientific testing, and the automotive industry approved it after comprehensive tests. The government's goal is to move towards clean fuel, balancing energy security, environmental sustainability, and farmers' interests.
The International Atomic Energy Agency (IAEA) reported on Thursday that it is aware of the plans of the United States and Saudi Arabia to approach it with a request to conduct verification work regarding their discussed nuclear cooperation deal. However, the request from these countries has not yet been received.
In its statement, the International Atomic Energy Agency expressed its readiness to receive such a verification request and to work jointly with the US and KSA to ensure the implementation of the agreed measures.
