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24 March 2020, 16:58

Banks began to raise deposit and mortgage rates

Several Russian banks have raised interest rates on mortgages and deposits, while the rest of the banks showing a wait-and-see attitude, according to a RIA Novosti study.
Thus, Otkritie Bank raised the mortgage rate by 1.5%. At the same time, unsecured loans have retained their former value.
Since March 19, Sovcombank raised interest rates on ruble deposits.
Since March 23, Tinkoff Bank raised interest rates on savings accounts, ruble, and dollar deposits, but at the same time kept the loan conditions unchanged.
Rosbank and Raiffeisenbank began to raise mortgage rates even before the decision of the Bank of Russia to maintain the key rate at 6% on March 20, RBC reports.
VTB and Post Bank do not plan to revise rates on loans and deposits. OTP Bank and Home Credit also preferred a wait-and-see attitude.
For the first time, information about banks raising the cost of mortgage lending amid the collapse of the ruble and lower oil prices appeared on March 14. For example, UniCredit Bank and Transcapitalbank raised their rates on March 13.
Yesterday at a “Construction Hour” session in the government of Bashkiria, market participants said that some banks had raised mortgage rates overnight, and there was already a drop in sales of housing. Over the past two weeks, sales fell by 60%.
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