Substantial Rise In Loan Interest Rates For Belarusian Borrowers

How much will you have to pay now at different banks?

Banks have revised interest rates on some loans, including real estate. In most cases, they were promoted, writes zerkalo.io.

The increase in loan rates from December 1 is due to the decision of the National Bank. Thus, in November of this year, the regulator increased the calculated standard risk values (RSR), which will be in effect in December. This is the interest ceiling on bank loans, primarily for real estate. As of December, RVSR for individuals increased to 15.25% (previously — 14.61%), and for legal entities — to 10.99% (previously — 10.82%). Banks should focus on this ceiling when setting interest rates on loans; they cannot be exceeded.

Belagroprombank announced an increase in interest rates on loans from December 1. “The interest rates have been increased on almost all loans,” the bank’s contact center clarified. For example, a financial institution is ready to issue a loan for the construction and purchase of real estate at 10.9% per annum in the first 180 days, and from the 181st — at 14.6% (refinancing rate + 5.1 percentage points). Previously — at 9.9% and 14.1%, respectively.

From December 1, Belgazprombank raised the rates on the “Housewarming Soon” loan to 11% in the first 180 days, and from December 181 to 14.5% (refinancing rate + 5 percentage points). Previously, these rates were 11% (the same as now) and 14.2%, respectively.

Priorbank increased interest rates on real estate loans “Friendly Family” and “Purchase with Security” in November — up to 12% in the first two years, and for the entire subsequent period — 14.6%, the bank’s contact center clarified. These rates have not changed since December 1.

From December 1, Bank BelVEB raised interest rates on the loan “For the purchase of primary and secondary housing” to 15.25% per annum. Previously it was 14.61% per annum.

At the same time, Bank BelVEB reduced interest rates on loans for consumer needs from December 1. The interest rate depends on the loan term: up to 6 months — 13.5% per annum, from 7 months to 1 year — 13.7%, from 13 months to 2 years — 14%, from 25 months to 3 years — 14.7 %, from 37 months to 5 years — 15.25%. The maximum loan amount is up to 100 thousand rubles (depending on the credit rating). “Guarantors and income certificates are not required,” the financial institution clarifies.

At Belarusbank, interest rates on real estate loans remained at the same level, as indicated on the financial institution’s website. For example, a Mortgage Express loan can still be obtained at 14.4% per annum.