Sberbank of Russia : cuts mortgage interest rate by 0.5 pp

July 7, 2020, Moscow - Sberbank has announced a mortgage interest rate reduction by 0.5 pp.

A preferential interest rate under the government support program for families with children to buy an apartment in a new building is:

• from 1.2% per annum for the first two years of lending, considering discounts from developers
• from 4.7% per annum when registering the deal online.

An interest rate under the State Support 2020 program to buy an apartment in a new building is:

• from 2.6% per annum for the first two years of lending, considering discounts from developers
• from 6.1% per annum when registering the deal online.

The lowest interest rate for buying an apartment in a new building under a developer's special program:

• 4.1% per annum for the first two years of lending
• 5.4% per annum when registering the deal online.

The minimum rate on buying move-in ready real estate on a mortgage will be 7.3% per annum, considering special terms when buying an apartment using the DomClick service by Sberbank when registering the deal online.

Nikolay Vasyov, Director of DomClick Division, Sberbank,

'We can see that the real estate market has revived, the demand for buying a house is increasing. In June, the number of mortgage applications at Sberbank doubled y-o-y. It is important for us to support Russians when solving the housing question, as we continue to improve the terms of Sberbank mortgage products.'

Previously, Sberbank had cut interest rates on the main mortgage programs. In May, the reduction was up to 0.8 pp.

You can calculate the terms and apply for a mortgage with a decreased interest rate online at DomClick.ru.