Sberbank cuts interest rate

Russia’s Sberbank has cut minimum interest rate on any purpose loans for individual customers by one percentage point to 11.9% per annum.

The interest rate cut applies immediately to the bank’s three loan products such as Unsecured Consumer Loan, Guaranteed Consumer Loan, and Consumer Loan for Refinancing. The minimum rates are available for customers who have salaries or pensions debited to Sberbank cards; the rate also depends on the amount and type of loan and whether there’s a guarantor. Fixed rates of 11.9% will apply to loans from RUR 1 mio ($14.5K).

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