Sberbank cutting mortgage interest rates under developer subsidy program

Nov 07, 2019
  • Discount up to 2.2 pp on mortgage loans for up to seven years under developer subsidy program
  • Discount of 1 pp available on mortgages maturing in 12 to 30 years under developer subsidy program

 

November 7, 2019, Moscow — Sberbank cuts the mortgage interest rates on apartments in new buildings under the developer subsidy program; the submission of applications will begin on November 8, 2019.

The following mortgage interest rate discounts are available under the developer subsidy program:

  • Discount on loans for up to seven years is up 0.2 pp, to 2.2 pp
  • Discount on loans maturing in 12 to 30 years is 1 pp.

The lowest interest rate to buy an apartment in a new building under the program for pay roll clients is 7.1%.

When applying for a mortgage for 7-12 years under the program, borrowers can also enjoy a 1.5 pp discount.

You can apply for mortgage at Sberbank with a decreased interest rate and choose an apartment from developers that take part in the subsidies program at DomClick.ru.

Nikolay Vasyov, Director, DomClick Division,

“Sberbank is transforming the mortgage routine, making it a win-win for all participants in the real estate market, by attracting consumers and increasing demand for developers and letting buyers apply for mortgages with lower interest rates when purchasing an apartment in a new building.”