UKRAINIAN INDEX
OF EFFECTIVE INTEREST RATES
ON CONSUMER LOANS FOR INDIVIDUALS
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CreditMarket Index: a mean effective rate on mortgage went up to 24.09%

CreditMarket Mortgage Index has increased to 24.09% by 04 July 2012 (an effective rate on mortgage for real estate purchase per annum, in UAH) compared to 28.83% recorded on 20 June 2012.

Denis Rakovsky, Sales Director at KreditMarket: “CreditMarket Mortgage Index shifted from its decrease to an increase to 24.0%.

For the last two weeks since the previous calculation six banks from our CreditMarket Mortgage Index list (Ukrsotsbank, Erste Bank, OTP Bank, Sberbank of Russia, Kredobank, Oschadbank) have changed the mortgage loan terms: all banks adjusted the nominal interest rate. Ukrsotsbank decreased the rate, while the rest increased it.

In view of the fact that conditions for location of obligatory reserves by commercial banks approved by the National Bank of Ukraine came into force on the last day of May and caused insignificant decrease of rates on mortgage in the middle and end of June, we can mainly explain the current growth of a mean effective rate on mortgage by currently observed shortage of long-term financial resources in the Ukrainian loan market.

In the short term, as before, we predict no significant fluctuations of CreditMarket Mortgage Index against the current value. As we assumed, at a current stage the state mortgage program launched by the government did not practically affect the terms of standard mortgage products of commercial banks.”

Information

CreditMarket Mortgage Index is calculated on the basis of loans granted at 70% of a purchase price of secondary market apartments for the term of 10 years. Promotional offers and credit on forfeited pledge excluded. The redemption scheme is annuity, or in case of no proposals – a serial loan. Currency – UAH. Principal is up to UAH400, 000 (the cost of an apartment – UAH571,500).

Index Values History

DateValue 
14.02.2014 23.10%
29.01.2014 23.10%
14.11.2013 23.10%
01.10.2013 23.14%
15.09.2013 23.24%
28.08.2013 23.24%
31.07.2013 23.96%
12.07.2013 24.04%
27.06.2013 25.30%
12.06.2013 25.30%
29.05.2013 25.64%
15.05.2013 25.64%
24.04.2013 25.64%
10.04.2013 25.64%
26.03.2013 27.34%
12.03.2013 27.43%
26.02.2013 28.48%
13.02.2013 27.94%
30.01.2013 27.94%
20.12.2012 28.64%
06.12.2012 28.64%
21.11.2012 28.13%
07.11.2012 28.13%
25.10.2012 27.12%
11.10.2012 26.76%
27.09.2012 26.39%
12.09.2012 25.79%
29.08.2012 25.35%
15.08.2012 24.22%
01.08.2012 24.05%
18.07.2012 23.86%
04.07.2012 24.09%
20.06.2012 23.83%
06.06.2012 24.00%
23.05.2012 24.00%
10.05.2012 24.12%
25.04.2012 24.12%
18.04.2012 24.14%
11.04.2012 24.13%
28.03.2012 24.13%
14.03.2012 24.35%
29.02.2012 24.34%
15.02.2012 24.29%
18.01.2012 25.14%
04.01.2012 24.44%
21.12.2011 24.44%
07.12.2011 24.35%
23.11.2011 23.37%
09.11.2011 22.83%
26.10.2011 20.37%
12.10.2011 20.37%
28.09.2011 21.52%
14.09.2011 21.52%
31.08.2011 20.37%
17.08.2011 20.37%
03.08.2011 20.37%
21.07.2011 20.37%
06.07.2011 19.22%
 

 

 
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