The highest interest rates are for unsecured consumer loans and credit cards. The lowest are for secured loans, which include mortgages.
Such a spread in interest rates is justified by banking risks: the higher they are, the higher the rate will be. With mortgage lending, the acquired property becomes the object of collateral and is insured. This minimizes banking risks.
There are credit programs with state support, under which the rate may be lower than the KS. Mortgages, car loans, and education loans are issued within the framework of such programs. Only certain categories of citizens can receive them.
In reality, with a mortgage with state support, the rate is lower afghanistan mobile database only for the borrower. The actual interest rate is always higher than the Central Bank of the Russian Federation's CA, otherwise the bank will operate at a loss. In such mortgages, part of the interest payments is taken on by the state. And the greater the difference between the actual rate and the preferential rate, the greater the burden on the state budget.
Despite the COVID-19 pandemic, the CR reached a historical minimum of 4.25% in 2020. It remained at this level from July 2020 to March 2021, after which it began to slowly grow. By the beginning of 2022, it reached 9.25%.
The record increase in the CR occurred in February 2022 in response to sanctions from Western countries. The Central Bank raised the rate to 20% to stop the outflow of money from ruble deposits and accounts. This temporary measure had a quick effect: the attractiveness of deposits increased, due to which the ruble exchange rate stabilized.
To stimulate the economy, the Bank of Russia began to reduce the CU since April 2022, and by September 2022 this indicator stabilized at 9.5%. It remained at this value until July 2023. In response to the fall in the national currency and the rise in inflation, the Central Bank of the Russian Federation began to systematically increase the CU. Since then, it has never reduced it.
More detailed dynamics of changes in the Central Bank of the Russian Federation's CU over the past four years are presented in the table.