Rosselkhozbank has resumed providing rural mortgages at 3% per annum. This was reported to "RBC-Nedvizhimosti" in the press service of the credit organization with reference to Irina Zhachkina, First Deputy Chairman of the Bank's Management Board.

 

According to her, rural mortgage is popular among borrowers, and the demand for it is growing every year. From January to October, RSHB issued rural mortgages to 12 thousand families for 38.5 billion rubles, which is already 35% higher than the result of the whole last year. "In general, since the beginning of the program, starting from the spring of 2020, we have helped to improve housing conditions of 100 thousand Russian families, allocating more than 200 billion rubles for this purpose," Irina Zhachkina cited the figures.

 

RSHB is the main participant of the rural mortgage program, it accounted for about 80% of all disbursements in 2023. In 2023, the Ministry of Agriculture allocated almost 20 billion rubles for the program. This money is distributed among banks, so they are subsidized for lost profits due to lower interest rates on loans. Due to the fact that the program is in high demand, the allocated funds quickly run out and banks stop accepting applications. In August, authorized banks temporarily suspended issuing loans under the "Rural Mortgage" program due to the increase in the key rate.