OREANDA-NEWS Sberbank has been raising market mortgage rates since August 6, the minimum now will be 20%, the bank's press service reported.

"Since August 6, 2024, Sberbank has been raising rates on housing loans for Domklick in connection with the decision of the Bank of Russia on July 26, 2024 to raise the key rate by 200 basis points, to 18% per annum," the report said.

The report notes that the minimum interest rate in the Savings Bank in the secondary market will be 20%, taking into account the use of life insurance, the purchase of real estate in the Domclick showcase, the use of the Legal Verification service, the Mortgage Plus promotion and with an initial payment of more than 20% of the real estate value.

"In the primary market, the minimum interest rate will be 20.3% when applying life insurance, Mortgage Plus shares and a down payment of 20%," the press service added.

It is indicated that the rates will be increased by 0.3 percentage points with an initial contribution of up to 30% and by 0.8 percentage points with an initial contribution of more than 30% for the following programs: "Suburban real estate", "Purchase of ready-made housing", "Garage", "Action for developers", "Commercial real estate".
The report also says that under the Residential Building Construction program, rates will be increased by 0.6 percentage points with a down payment of less than 30% and by 1.1 percentage points with a down payment of 30% or more. Under the "Non-targeted secured real estate" program, rates will increase by 2 percentage points.
"For applications accepted up to and including August 6, the previous credit conditions will apply," Sberbank concluded.