Belarusian banks stopped accommodating with housing credits
9- 23.10.2008, 8:45
A number of Belarusian banks have stopped accommodating with housing credits, loans for buying a car and consumer credits.
No concrete details are given as for when accommodating with loans would be renewed. In some banks (for instance, BPS-Bank), clients are said that they should come to be granted a credit no earlier than December. Better than words of officials it confirms that the financial crisis has reached Belarus.
Credit programs have been stopped completely or partially firstly by the banks which belong to foreign investors. For instance, a representative of one of the branches of the VTB answered the question whether it is possible to receive a credit for buying a car by saying that the program is suspended. He advised to contact the bank this week: “It is possible that the situation would be cleared up”, “Express-novosti” informs.
In the banks which have frozen the service of credits accommodation, it is to be decided what to do with the staff of credit departments who in fact are left without work.
The banks which financial potential allows accommodating with loans even during the world crisis, the problem is solved in a different way. Rates of interest are raised. But if you have decided to ask for a loan, it is better to call directly to a bank to find out details. Unpleasant information about more expensive credits hasn’t appeared on all official websites. For instance, Priorbank site demonstrates old interest rates for housing credits -12% in dollars and 16% in Belarusian roubles. In reality the interest rate now is 15% and 17% respectively.
By the way, as for housing credits, as infobank.by notes, “in connection with the world financial crisis the number of Belarusian banks which grant such credits has decreased greatly. As for the term of considering credit requests, there are changes for worse too. Banks have mostly increased the terms of considering credit requests, up to 3-4 weeks. For instance, this term in Belrosbank makes 20 calendar days. So in general the credits are more expensive and take more time. Part of the credits considered now is grants for a rather long period of time, 20 years, like in Belagroprombank and Belrosbank. Other credits are limited to a maximum 15 year term”.
