Sberbank of Russia : cuts consumer loan interest rates

June 25, 2020, Moscow - Sberbank has cut the minimum interest rate on any purpose loans for individual customers by one percentage point to 11.9% from 12.9%.

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 RUB 1 mln. With the Consumer Loan for Refinancing product, fixed rates will start from RUB 300,000 and reach 12.9% for loans under RUB 1 mln and 11.9% for loans over RUB 1 mln and will not depend on whether or not customers have a Sberbank account for payroll or pension payments. The changes came into force on June 18, 2020.

Sergey Shirokov, Director of Borrow and Save, Sberbank,

'We are pleased that we have been able to make loans more affordable. Customers will thus be able not to postpone until tomorrow the purchases they need today. We also hope that lower rates will support consumer demand and contribute to economic growth during this challenging period.'

A consumer loan at Sberbank can be received for 3 months to 5 years and can range from RUB 30,000 to RUB 5 mln. You can submit a loan application at a bank's offline branch or via Sberbank Online, and it will be considered in only a few minutes.

You can find detailed terms of consumer lending at Sberbank on the bank's website.