Belinvestbank has updated the terms of its “Svayo. Rodnaye” loan programme for Belarusian-made goods, bringing them closer to the preferential loan conditions offered by Belarusbank with state support.
Under the revised terms, the loan carries an annual interest rate of 3.99% during the first six months and 14.23% per annum thereafter. The repayment period is seven years. Borrowers are also granted a two-year grace period on principal repayments. Loans of up to 50,000 Belarusian rubles do not require collateral. For larger amounts, penalties and personal guarantees are required.
The loan product has existed for some time, but previously the preferential period lasted three months and the interest rate during that period was 7.9% per annum.
Belarus also has a government-backed loan programme for Belarusian-made goods with an annual interest rate of 4%, which is issued through Belarusbank under a government directive.
