Sberbank has reduced rates on loans for small businesses

Sberbank announced a new lower interest rates on loans for small businesses. From 31 October, they reduced by 1.5–5.5 percentage points depending on the loan product and the conditions of issue. The result is the minimum rate on loans with collateral is now for small businesses only 11.8% and on unsecured loans is 15.5% per annum.

According to senior Vice-President of the savings Bank Anatoly Popov, cooperation with small business is the Bank’s priority.

“Reducing interest rates on loans will help the businessmen to realize their ambitions using additional financial resources”, — said Popov.

In the message of Sberbank it is also noted that since November 1, 2016, a twofold increase in the maximum amount SMART loans issued on the basis of predictive models analyze data about customers. Based on the results of this analysis, the Bank prepares the individual credit proposals and as a result the client can get a loan in one day.

Earlier it was reported that under the pilot project, loans will be given only to those customers of small businesses who have no existing loans in the savings Bank. Issuance in the first phase of the pilot project will take place before the end of the year.

“Then we’ll see how you behave in this portfolio. After which a decision will be made about the scale of the project,” — said the press service of the Bank.

The Deputy Chairman of the Board Loko Bank Andrey lyushin sure that after Sberbank rates on loans to small businesses will start to review the other banks.

“A significant decline in interest rates from the Sberbank says that the Bank sees potential in the development of small and medium business, which will be one of the beneficiaries of overcoming the economic crisis. Of course, with the savings Bank rates will be reviewed and other credit institutions, which will increase the availability of loans for companies”, – said the lyushin.

At the beginning of October 2016, the savings Bank has lowered rates across the range of consumer credits, and then mortgage loans, was followed by the reduction of interest rates by other banks, including VTB.