The savings Bank has lowered rates on consumer loans

Photo: Peter Kovalev / TASS

The reduction of rates on consumer loans will amount to 3 percentage points Cheaper loans in the savings Bank explain the conduct of the spring campaign

Sberbank announced the reduction of interest rates on ruble consumer loans. In the framework of the spring campaign, the maximum size of the reduction compared to the base line of the Bank will amount to 3 percentage points (PP).

The result is the minimum loan rate will fall (with surety) to 12.9% per annum. According to the head of Department of retail non-transactional products Sberbank Natalia Alymova such low rates on the consumer credits in Sberbank was not.

“31 January is over Christmas campaign on consumer credit that was highly praised by our customers — for example, the issuance in January amounted to 55 billion rubles, which is 24% higher than the previous year. On the wave of success for the new year event we are launching a new offer dedicated to the spring holidays,” explained alymova.

At reduced rates, the savings Bank plans to issue loans amounting to not less than 300 thousand rubles. While the exact size of the interest rates will be set for each client individually depending on its reliability and solvency.

In January 2017, the Central Bank reported abnormally low interest of Russians to retail loans. According to the Central Bank, for December 2016, the volume of loan portfolio of Russian banks to individuals increased by only 0.1%, despite the fact that traditionally, the end of the year is considered high season for retail lending, characterized by a large growth rate of the portfolio of loans to natural persons, than in other months.

At the end of 2016, the savings Bank has lowered rates on mortgage loans by 0.5–1 PP.

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