The level of interest rates that developed on the deposit and credit market of Belarus in September supported the attractiveness of savings in the national currency and contributed to the preservation of credit activity.
This is evidenced by data posted on the National Bank website.
National Bank on deposit and loan rates in September
According to the National Bank of the Republic of Belarus , last month almost half of the volume of deposits from individuals was attracted by banks for a period of more than one year at an average rate of 13% per annum.
Overall, the average rate for new term deposits of individuals in Belarusian rubles was 10.81% per annum.
As a result, since the beginning of the year, term deposits of individuals in national currency have increased by 2 billion rubles (by 24.9%) and as of October 1 amounted to 10 billion rubles.
The increase in the resource base in rubles allows banks to fully satisfy the solvent demand for loans from individuals and legal entities at the current level of interest rates on loans.
The average rate on new loans in national currency (excluding preferential ones) for legal entities last month was 11.27% per annum, for individuals – 10.27% per annum.
