Banks to reduce mortgage rates in Belarus
Commercial banks in Belarus are soon to announce lower interest rates on mortgage loans, National Bank chairman Piotr Prakapovich said in a statement.
Under the recommendations of the National Bank, mortgage rates will stand at 15 percent p.a. for preferential borrowers and 20 percent p.a. for others.
Prakapovich explained that lower mortgage rates could become possible after the National Bank reduced the required reserve fund for banks. The banks would thus remain with nearly Br300 billion available. The National Bank recommended to allocate these funds for housing construction projects, Prakapovich noted, reports Interfax
Under the recommendations of the National Bank, mortgage rates will stand at 15 percent p.a. for preferential borrowers and 20 percent p.a. for others.
Prakapovich explained that lower mortgage rates could become possible after the National Bank reduced the required reserve fund for banks. The banks would thus remain with nearly Br300 billion available. The National Bank recommended to allocate these funds for housing construction projects, Prakapovich noted, reports Interfax
