Sberbank and VTB reduce mortgage rates

On July 25, VTB reduces mortgage rates to 9.9%.

The minimum rate will be available with a discount of 0.3 percentage points for salary clients, as well as for clients using electronic registration and secure settlement services during the transaction. Borrowers who have received approval of their loan applications earlier at previous rates will be able to reissue them on more favorable terms.

The bank also announced its intention to reduce the rates on consumer loans to 5.4%.

From July 26, Sberbank plans to lower mortgage rates to 9.9%.

"Sberbank will improve conditions for its mortgage programs by lowering the base rate by 0.6%. Borrowers will be able to get a mortgage loan at a rate of 9.9% per annum, which is valid for both new buildings and the secondary market." - the press service of the credit institution told reporters.

Sberbank also announced plans to reduce rates on consumer loans in the coming days.

Recall that following the meeting of the Board of Directors of the Bank of Russia on July 22, 2022, it was decided to reduce the key rate by 150 basis points at once, to 8% per annum.