Housing Loans Become More Expensive In Belarus
1- 3.12.2024, 10:10
- 9,902
Banks have raised rates.
Since Tuesday, December 3, Belarusian banks have raised interest rates on loans for purchasing or building housing. Thus, interest rates on mortgage loans of Belarusbank have increased (last time it was raised only three months ago), as well as the loans of Belinvestbank, reports Telegraf.
The new rate on this mortgage loan, according to the information posted on the official website of Belarusbank, is 17% from December 3. Yesterday the rate was one per cent point lower - 16%.
Belarusian banks have raised rates on housing loans. By how much?
At the same time, the rate for those, who are on the list of those in need of better housing conditions, has not changed under this credit program - these customers will still have to pay 12.5% per annum.
The rate on the ‘Mortgage with Us’ loan, which Belarusbank offers for housing construction within the framework of partnership programs, has also increased by one percentage point: the rate has risen to 16% where it used to be 15%, and 16.4% where it used to be 15.4%.
In turn, Belinvestbank raised the rate on its real estate loan (the bank provides it only to those who build or buy ready-made housing on a general basis) from 15.99% to 17.71%. Rates on the bank's property loans from a partner have risen similarly.
The banks did not specify the reason for increasing the rates on property loans. The National Bank of Belarus has not raised the calculated values of standard risk (RAR) since August 2024. In December, they are set by the financial regulator at the following level:
12.5% for new loans to legal entities (except for soft loans),
17.71% for new loans to individuals (except for concessional).
Thus, the current increased rates on property loans are close to the maximum permissible level, determined by the National Bank.
Bank's name: Bank Millennium S.A.
Address: ul. Stanislawa Zaryna, 2A, 02-593, Warszawa
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