MINSK, 17 May (BelTA) - Interest rates on loans in Belarus continued to decline in April 2023 amid a further slowdown in the annual inflation (4.7% in April against 6% in March), BelTA learned from the website of the National Bank.
The average interest rate on new bank loans granted to legal entities in national currency (excluding preferential loans) in April 2023 was 8.8% per annum, down by 0.4 percentage points over the previous month. Thus, loans have become even more accessible to finance current and investment activities, which contributes to the growth of the economy.
For individuals, the average interest rate on new loans in national currency (excluding preferential loans) in April decreased by 0.3 percentage points to 10.8% per annum.
The average interest rate on new fixed-term deposits of individuals in Belarusian rubles in April 2023 rose by 0.1 percentage points from the previous month to 8.4% per annum .
Banks offer the most attractive profitability on long-term deposits. The average interest rate on new bank deposits of individuals for a period of more than a year in April of this year amounted to 12.2% per annum.
The yield on new irrevocable deposits of individuals in April 2023 was higher than that on revocable deposits (8.4% per annum versus 8.1% per annum, respectively).