Rise in Mortgage Interest Rates by Belarusbank
Journalist Mikhail Svetlov reports on the latest developments in the banking sector in Belarus.
On August 13, BNB Bank made adjustments to its rules for serving legal entities and individual entrepreneurs. One of the key changes is the extension of the deadline for executing payment orders in Belarusian rubles if the client fails to provide the required documents in a timely or complete manner.
In the realm of mortgages, significant changes have taken place. The largest bank in the country has increased interest rates on some mortgage products. This development affects programs involving the purchase of residential property from physical (legal) entities or individual entrepreneurs, excluding developers.
Specifically, the interest rate on the "Refinancing Mortgage" loan from Bank *** has increased to 18.5% per annum. Similarly, the rates on "Home Purchase" and "Express Mortgage" loans from Belarusbank have risen, with an increase of 0.85 percentage points.
However, the exact current interest rates on mortgage loans from Belarusbank or Bank *** following their recent changes could not be determined from the available information. To obtain the latest and precise mortgage rates, it is advisable to check their official websites or contact the banks directly.
In addition to mortgage products, this article discusses updates to various bank products, including consumer loans, auto loans, business loans, and deposit and loan services, as well as business account products, credit cards, debit cards, new car leasing services, used car leasing services, and business car leasing services.
Another notable change is the shift towards electronic dividend payments.
As of February 13, "TechnoBank" changed fees for services provided to legal entities and individual entrepreneurs. The commission for transferring funds abroad based on a client's payment order or payment demand in US dollars at "TechnoBank" is now $10.
This article contains information on updates to bank product terms, accurate as of the date of publication. For the most current and detailed information, it is always best to consult the banks' official websites or contact them directly.
[1] Source: Minsk Real Estate Prices and Discounts [2] Source: No Relevant Information about Bank ***
- In light of the recent adjustments, the interest rate on the "Refinancing Mortgage" loan from Bank *** has risen to 18.5% per annum, which falls under the finance category.
- To stay up-to-date with the latest changes, it is advisable for clients to check the official websites or contact the banks directly, especially regarding the interest rates on mortgage loans and other financial products such as consumer loans, auto loans, business loans, and deposit and loan services.
