After the interest rate is increased, minimum rates for consumer loans will be 15.5-16 percent. This is the estimate of socialbites.ca given Associate Professor of the Basic Department of Financial Control, Analysis and Audit of the Main Control Directorate of Moscow City REU. GV Plekhanova Yulia Kovalenko.
“However, some offers such as first month discount and cashback are possible. If you do not take into account government programs and offers from developers, the rate on mortgage loans can start from 15%,” Kovalenko said.
Kovalenko had difficulty setting the upper level of mortgage interest rates. According to him, it all depends on the mortgage terms and the client’s age and income.
According to the economist, after the interest rate increase, deposit interest rates will start from 13 percent annually. However, he believes that these will be around 11-12% for long-term deposits.
Central Bank of the Russian Federation September 15 raised The key interest rate was increased by 100 basis points to 13%. The regulator noted that inflationary pressure remains high.
The Central Bank increased interest rates in July. On July 21, the rate was increased by 100 basis points to 8.5%. At the extraordinary meeting held on August 15, the interest rate was increased by 350 basis points to 12%.
Following the regulator’s decisions, banks increased interest rates on deposits and loans. As of September, the maximum rate on deposits reached 12% and on secondary market mortgages reached 14%.
Formerly BCS Forex analyst Trifonov stated socialbites.ca does not expect a significant increase in the key rate.