Russia’s Sberbank cuts retail loan rates to pre-crisis level

MOSCOW, May 16 (PRIME) -- Russia’s biggest lender Sberbank has reduced interest rates for consumer loans by 1.1–4.1 percentage points on average and they have reached the pre-crisis level, Natalya Alymova, head of the retail non-transaction product department, said at a conference on Monday.

“The decline is quite significant, it takes our rates to the level we used to have before the start of the crisis, I mean, in late 2014 and 2015. We are reducing (the rate) for the entire range, basing on the basic range,” Alymova said.

The interest rate will now range between 14.9% and 22.9% for retail loans under surety and between 15.9% and 23.9% for unsecured loans.

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