Small and medium businesses in the affected industries would pay only a third of interest rates on loans of the savings Bank

savings Bank joins the program of the Russian government to subsidize the interest rate of a loan for small and medium business (segmentation in accordance with the Federal law № 209-FZ), which refers to the sectors most affected by the spread of the coronavirus COVID-19.

the Essence of the program lies in the postponement of payment of principal on the current loan for 6 months, while reducing interest rate on the loan up to 1/3 of the original bet. 2/3 bet this will take over the savings Bank and the government of the Russian Federation.

Entrepreneur by choice will be able to repay the loan at a preferential rate at the normal time or to postpone accrued interest payments until after October 1, 2020 and to include them in the payment of principal on the loan. The special rate will be in effect until October 1, 2020, after which the loan will be set to the initial bet.

Anatoly Popov, Deputy Chairman of Sberbank, said: “the Government continues to expand the package of measures to support businesses during this difficult period. In the case of a small business in accordance with the parameters approved by the government the program is valid, if at least one NACE enterprises — primary or alternate — gets the list of affected industries and to midsize companies — in the case that the main NACE enterprises refers to the list defined by the government of the Russian Federation. The government’s program, which we joined, will be relevant for thousands of our corporate borrowers: they will be able to minimize its loan burden in the II and III quarters in 2020, which, according to forecasts, will be the most difficult for business. In addition to the subsidy rates in this period we will not charge Commission as well as any fees and penalties under the loan agreement”.

the General license of Bank of Russia for banking operations № 1481.