Sberbank raised interest rates on loans. Other banks will respond to this promotion

Analysts believe in this. In October 2018, Sberbank raised rates on consumer and mortgage loans. Leading Russian analysts believe other banks will follow the example of Sberbank and will also raise interest rates on loans

Analysts believe in this.

In October 2018, Sberbank raised rates on consumer and mortgage loans. Leading Russian analysts believe other banks will follow the example of Sberbank and will also raise interest rates on loans in the near future.

October 15, Sberbank has enhanced the minimum rate charged on customer loans by 1-2 percentage points (PP). In this regard, customers who have a salary card of the Bank can take the credit under the minimum rate at 12.9%. For all other minimum rate of 13.9%. A week later “Sberbank” has increased its mortgage rates by 0.4 points

Sberbank said the increase is due to the recent increase in Deposit rates and the need to adapt to changing conditions in the market. “Sberbank” has really upped the ante on deposits, and also launched a special promoved the “Record” with high rate.

Leading analysts believe that after “Sberbank” loan rates will increase and other banks. So, analyst Alexander Danilin from Fitch believes that, as before, other banks will adjust to “Sberbank”. According to him, Russians should expect higher interest rates on loans of up to 1 PP.

Representatives of large banks has not yet commented on these forecasts.

Source: BBC.

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