Belarusbank issues loans according to a simplified scheme without an income certificate. Reducing the refinancing rate could significantly revive the lending market Belarusbank reduces loan rates February
The reduction in the National Bank rate naturally affected the reduction in rates on consumer loans. In some banks they fell by several percent, in others they are still at the same level.
Cash loans financial institutions are often issued without collateral or guarantee, especially when it comes to small amounts and lending regular customers, says the portal Myfin.by. In other cases, in addition to the penalty, security may be required: a property pledge or a security deposit.
Bank offers
Below are examples of providing loans for a period of 1 year or more according to the lowest rate rating. Banks accommodate borrowers who want to repay loans earlier than the agreed period and do not charge for early closure commission agreements.
Bank Solution
Leader among financial institutions with minimum rates is Bank Solution. Thus, for the “Gifts to Be” product, the borrower will have to pay only 9.99% for the first two months. In the future, the rate will rise to 19%.
The loan term is 24-48 months. Amount up to 7 thousand rubles. provided without collateral or guarantors. The minimum continuous length of service of the borrower (except for pensioners) must be 3 months.
BPS-Sberbank
Second place goes to the product “It’s time to act with Sberbank!”, where the rate in the first half of the year is 11.5%, then increases to 15.5% (CP + 3.5 percentage points). In case of change key rate regulator, BPS-Sberbank installs on the same day new rate on your loan.
Clients who have taken out insurance with a partner bank of the company, as well as receive salaries, pensions from the bank, and comply with other requirements financial organization, can count on a rate reduction of 0.5 percentage points. – up to 11% and 15% (SR + 3 pp), respectively.
The loan is issued for a period of up to 5 years, maximum amount– 6 thousand rubles. In this case, insurance should be taken out for the entire period of use of borrowed funds.
Belarusbank
Belarusbank issues consumer loans at 12-17% (from SR to SR +5) for up to 60 months. The rate depends on the length of the term and the availability of collateral. It also changes depending on the National Bank rate.
The security is a penalty, insurance, surety or collateral property. In addition to the standard package of documents, the bank requires the borrower and guarantors to consent to the verification of personal data in the Credit Register of the National Bank.
Fransabank
The “Everything at once” product from Fransabank from July 17 also offers a rate of 12%, subject to taking out a loan for 13 months. For a loan for a period of up to 5 years, the rate will be 14.5%, from 61 to 84 months – 15.5%.
The main requirements from the lender are that the applicant has a stable income and length of service from 2 years. At the same time, the borrower’s net income for the capital and the Minsk region must be at least 400 rubles, for other regions - 350 rubles.
How the rates changed
During the May-July period, loan rates dropped by 2-5 percentage points on average. They fell the most in Fransabank – by 4-6 percentage points.
Basically, financial institutions that lowered rates were limited to 2 percentage points, following the reduction of the National Bank rate. Thus, Belarusbank reduced interest rates from 14-19 to 12-17. However, in some banks rates remained at May levels. Among them: RRB-Bank, BelVEB Bank, Paritetbank.
If we consider from the end of winter that rates have dropped by 3-8 percentage points. For example, in February Technobank offered an ordinary “Light” loan at 20%, and now at 12.9%; Belarusbank provided consumer loans at 20-24%, now at 12-17%. At the beginning of spring, Fransabank issued the “Everything at once” product at 17-23%, and now at 12-15.5%.
Illustrative examples
For better understanding of the final cost of the loan, we will calculate the overpayment for the amount of 4 thousand rubles, taken for 12 months without collateral, guarantors and insurance policy from the bank's partner company.
Typically, banks accommodate clients who want to repay their loans early, so the table also includes loans with terms exceeding 1 year. Almost all banks charge monthly payments in equal installments. It should be noted that Myfin.by calculations are approximate; for accurate information, you should contact the bank directly.
Thus, the minimum borrower will have to overpay is 265 rubles, the maximum is 398 rubles. Monthly payments vary in the range of 355-367 rubles.
It can be stated that with falling rates, the consumer lending market is attracting more and more attention from potential borrowers.
Interest rates on loans and deposits have been falling all year. The refinancing rate alone has already dropped by 6 percentage points since January, and it is precisely this indicator that rates on many loans are tied to. If at the beginning of the year the bank's money could cost the borrower up to 45% per annum, now it is on average 30 - 35% per annum (and there are options for 25% or even less!).
True, all these reductions apply only to new loans. Those who once took out a loan high rate, are still forced to overpay. But Belarusbank decided to take an unusual step - to reduce the cost of loans already issued.
Since September 27, Belarusbank has reduced interest rates under previously concluded loan agreements for consumer needs and real estate financing, the bank said in a statement on its website.
But not all borrowers are lucky. For example, the rate on a loan for consumer needs for a period of five years decreased to 29%, but for the same loans for a period of one year everything remained unchanged. The most noticeable decrease in price home loans- from 28 to 24% per annum, immediately by 4 percentage points.
Could a reduction in interest rates on already issued loans become a trend? Still, there are more and more people who overpay.
Belarusbank in many ways social bank, so he can take such a step. But this is unlikely to become a widespread phenomenon: there is no benefit for banks in reducing rates on loans already issued, especially given the deterioration in quality loan portfolios and an increase in expenses for reserves for them. Now many people are focusing on various refinancing programs (for more details, see “Stay in the know”). Most often, they are offered by those banks that want to lure good borrowers from other banks. Rather than evaluate someone new, it is better to take a borrower with a positive credit history, one of the banks told Komsomolskaya Pravda.
B KEEP IN THE KNOW
How can you make your loan cheaper?
1. Take out a loan for refinancing
They are available in almost every bank. Suppose you once took out a loan from Bank A at 40% per annum. Bank B pays it the entire amount due from you, and you begin to repay the debt to Bank B, but not at 40%, but at 25%. To take out a loan for refinancing, you will need a certificate of income and some type of security (for example, guarantors or collateral). Besides, new bank don't forget to check yours credit history. Those who are behind on payments may be denied a new loan.
2. Agree with the bank
If you have some objective reasons why it has become difficult to repay the loan (for example, you were fired or someone in the family became seriously ill), the bank may accommodate you and change the repayment schedule for you. Let's say, arrange the so-called credit holidays or reduce the amount of monthly payments by spreading them out over time. But banks rarely reduce the loan rate: software does not always allow this. And you need to remember that in each case everything will be decided individually.
Recently, Belarusbank has been providing the opportunity to obtain certain types of loans for consumer needs without income certificates. The deputy director of the population lending department of OJSC spoke in more detail about the registration procedure and benefits for clients, as well as about the wide range of credit products. ASB Belarusbank"Svetlana Filipchuk.
-Who can take advantage of such an obvious advantage?
— Everyone, while previously only clients of Belarusbank, to whose accounts the deposit was made, could apply for a loan without a certificate of income wages and other income.
In Belarusbank partner stores it is possible to obtain any loan amount within monthly income client and the cost of the goods, including installment plans. To purchase goods, you just need to present an identification document and an invoice.
— What if the store is not a partner of the bank?
— For other loans for consumer needs, with the exception of loans with insurance against the risk of non-repayment, the maximum amount without income certificates is determined based on the average monthly net income not exceeding 15 basic units, which currently amounts to 345 rubles. I would like to note that our bank offers a wide range of loan products.
— Do you have to come to the bank to apply for a loan?
— Today, in order to get a loan, it is not at all necessary to go to bank office. It’s easier to apply for a loan online using remote channels banking services. Moreover, there is also a choice here - the bank’s corporate website, Contact Center, M-banking, Internet banking, bank information kiosks. By expanding our services, we act in the interests of the client. You know, Belarusbank positions itself as a nearby bank. Considering the development of IT, this is not only a territorial component, but also a technological one - the bank is in your phone or tablet, and, therefore, in your jacket pocket or handbag.
— For what purposes can you take out a loan?
— Today you can get a loan from Belarusbank for any purpose.
Moreover, our loans are affordable, simple, without hidden fees. The client can repay them monthly, taking into account his usual expenses.
— Which credit products most in demand?
— Perhaps, loans for consumer needs, which are issued very simply, do not require guarantors or proof of income.
— Are age interests taken into account?
— Yes, we have loans for various age categories. For example, loans for young families. Within 30 days from the date of conclusion loan agreement The loan rate is reduced by 2 times, i.e. During this period of time, the client uses a loan at 7% per annum.
A loan "Time to Live" is aimed at citizens who are eligible to receive a pension. For this loan, the interest rate in the first year of use has been reduced to the level of the National Bank's refinancing rate. Moreover, if credit is provided to participants club "Velvet", then the rate is reduced by another three percentage points.
"Instalments without overpayments" is intended for the purchase of goods in trade organizations, and the loan "Successful update" provided for refinancing loans from other banks. At the same time, when calculating the loan amount, payments on refinanced loans are not taken into account, and it can be issued against a penalty, that is, without guarantees.
— Why is a loan interesting? " Belarusbank"to buy a car?
— Credit to purchase a car is provided for a period of up to 7 years. The rate on this loan for the first 6 months is 13% per annum, then the refinancing rate National Bank plus two percentage points.
The loan is issued without down payment and CASCO. It is possible to defer the payment of the loan principal for six months.
— A few years ago, a bank offered a loan to pay for in vitro fertilization? Is there demand?
— Over all this time, more than 2,000 women have used it. Preferential loan.
Provided loan for IVF for a period of up to 5 years with interest payment in the amount of 50% of the National Bank refinancing rate. Moreover, if the IVF procedure was successful and a child was born, the parents receive a deferment in repaying the loan debt for the period of receiving child care benefits with an extension of the loan repayment period.
— And finally, about the most significant loans - for the purchase of housing. What changes have these solution tools undergone? housing issue?
— The conditions for providing such loans have become even more attractive. Firstly, the loan term has been increased to 20 years, and secondly, the interest rate in the first two years from the date of conclusion of the loan agreement has been reduced to the refinancing rate of the National Bank. Then three percentage points will be added to it, but given that the rate is falling, there is no need to talk about obvious benefits.
Let me remind you that the bank has retained the function of providing preferential loans for the construction, reconstruction and purchase of housing as part of the implementation of government programs.
If you are interested in details, details about lending conditions can be found by contacting any Belarusbank branch or by calling the single reference number 147.
Belarusbank resumes issuing loans for the purchase of residential premises from developers (i.e. primary market), tut.by was informed about this at the bank’s contact center. Loans for the purchase of secondary housing will still not be issued.
Let us remind you that from November 8, Belarusbank suspended accepting new applications for loans for the purchase of residential premises. The bank also raised interest rates on construction loans to 15% per annum (refinancing rate + 5 percentage points). Before the increase - 13% per annum (refinancing rate + 3 percentage points). In addition, when calculating the size of a real estate loan, the bank stopped taking into account the total income of close relatives and family members.
From February 1, loans for the purchase of residential premises from developers will be issued at 16% (refinancing rate + 6 percentage points). The loan term is up to 20 years.
BPS-Sberbank, which suspended issuing housing loans at the end of November last year, is not yet going to resume them, the bank’s contact center reported. The exception is loans provided to the population on preferential terms within the framework of Decree No. 240.
BPS-Sberbank Bank has partially resumed consumer loans - two offers are now available. In addition, you can take out a loan from the bank to purchase a Geely car, a loan for refinancing and apply for an installment card.