Belarusbank marks down construction credit rates

Rates of previously signed contracts for construction have been marked down from 38.5% to 37.5% per annum.

The rate of 37.5% per annum is offered for the new credits for construction (reconstruction) of dwellings as well. One can take out a loan in Belarusbank in an amount of 75% of the cost of the house which is being built at the rate of 37.5% per cent per annum. The loan disbursement period is up to 15 years, the press-service of the bank informs.

Last year Belarusbank, Belagroprombank and Belinvestbank issued construction loans at a rate of 16% per cent per annum, however their losses were huge and they had to stop. Earlier Nadzeya Yermakova, Chairperson of the board of the National Bank, told journalists that until the end of 2014 the National Bank plans to develop a system of construction savings in order to help solving the housing problem. As said by her, “the system of savings for construction means that a citizen, who wants to have a dwelling, should save money himself as well.”