Russian banks raise interest rates on consumer and mortgage loans

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Russian banks raise interest rates on consumer and mortgage loans
Russian banks raise interest rates on consumer and mortgage loans
11 October, 12:37EconomyPhoto: 1MI
According to analysts from the Finuslugi financial platform of the Moscow Exchange, after the adoption by the State Duma of laws on credit holidays for the mobilized and writing off the loans of the dead, average rates on consumer loans increased in large Russian banks. Dom.RF noticed an increase in the average mortgage rate as well.

According to Finuslugi , the average interest rates on consumer loans in the 20 largest banks of the Russian Federation rose to 19.29% ( +1.29% ) for the period from September 29 to October 6. The report indicates that rates have changed in nine banks, mainly due to an increase in the upper limit of the full cost of loans.

“The average rate on unsecured loans for any purpose amounted to 20.45% (+1.67 p.p.), on secured loans, the rate increased by 0.46 p.p., to 16.72% . The lowest average rate on unsecured loans is offered by Gazprombank ( 12.9% ). For loans with collateral, the minimum rate at the bank "AK Bars" ( 11.9% ). The highest rates are with Uralsib banks ( 27.36% ) and MKB ( 25.23% ),” analysts said.

According to Dom.RF , for the period from October 1 to October 8, rates on market mortgage programs for ready-made housing and new buildings increased in 7 of the 20 largest credit institutions in Russia. According to analysts, the weighted average rate rose to 10.5% (+0.41 percentage points) compared to the last week of September. It is noted that at the end of September, the conditions for obtaining a mortgage worsened at Alfa-Bank and MCB, but this did not have a significant impact on the market and led to minor changes in the indicator at the level of 0.05 percentage points.

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