Bank cuts interest rates on Belarusian merchandise loans
BelVEB Bank Reduces Interest Rates on Consumer Credit Product
Belarus-based BelVEB Bank has announced a reduction in interest rates for one of its consumer credit products, the "On Belarusian Goods" loan. The changes, effective as of May 29, are as follows:
- The interest rate for loan terms spanning 2 to 6 months has decreased by 0.7 percentage points to 15.9% annually.
- For loan terms ranging from 7 to 12 months, the interest rate has been lowered by 0.6 percentage points to 16.9% annually.
At present, there is no up-to-date, publicly available information regarding the current interest rates for different loan term lengths for this specific loan product. For precise and current details on BelVEB Bank's loan interest rates, it is advised to visit the bank's official website or contact BelVEB Bank directly.
Elsewhere in the banking sector, changes have also been announced:
- BNBBank will implement modifications to its tariff schedule, primarily affecting legal entities, from May 29. Starting June 1, the limit for the average daily balance when calculating the commission for maintaining current (settlement) accounts in USD and EUR will be reduced. The commission will be applied if the average daily balance on such accounts exceeds $800,000 or €800,000, with the first deduction under the new conditions occurring in July for June.
- ParitetBank has also made changes to its tariff schedule, effective May 29, primarily impacting commissions for operations involving salary, credit, and debit cards. More details can be found on their official website.
The focus of these announcements remains centered on the financial products and services offered by these banks, with no significant information provided on broader geopolitical issues, including sanctions and export controls related to Russia and Ukraine.
The reduction in interest rates by BelVEB Bank for its "On Belarusian Goods" loan demonstrates a shift within the bank's personal-finance sector, affecting business decisions related to consumer credit. Meanwhile, other banks such as BNBBank and ParitetBank have also adjusted their financial services, altering tariff schedules and commissions on various business operations.
