Interest Rates on Some Loans Will Rise in November

This is due to the decision of the National Bank.

In Belarus, banks will raise interest rates on some loans in November. This is due to the decision of the National Bank to raise the calculated values of the standard risk (RVSR) next month. This is the interest ceiling on loans that banks adhere to, writes zerkalo.io.

The National Bank has increased the estimated values of the standard risk for November to 20.29% for individuals (now - 19.02%) and up to 15.33% for legal entities (now - 14.87%). Simply put, this is the interest ceiling on loans, which banks adhere to. The last time the RVSR was raised was in August.

In some banks, interest rates on loans for real estate and cars are tied to the RVSR on general terms. That is, with an increase in this indicator, banks must change interest rates on individual loans.

Let us remind you that earlier experts of the Eurasian Development Bank predicted that the National Bank will increase the RVSR by the end of the year. In their opinion, the refinancing rate, to which the rates on many bank loans are tied, may be raised by the end of this year.