Bank customers consider the interest rate as a key factor in the choice of creditor bank. Indeed, the lower the percentage of the loan, the less overpayment is waiting for borrowers.
In our material we made a rating of 6 credit and financial organizations with more favorable credit conditions.
The interest rate is not installed in the blind, banks cannot come up with a minimum percentage amount, therefore the lower border regulates the Central Bank of Russia. Accordingly, there can be no interest rate set by the Central Bank.
Next, a bank drawing up a loan, you need to make a profit from money, so it increases the minimum rate on the basis of many factors, as well as competition, which allows you to get income from the money you use.
In addition, inflation affects the rate. Because the money over the years is cheaper, that is, after a couple of years, the same amount of money in the same time, which will now, it will be impossible to buy the same set of goods, so the banks need to calculate all aspects of such a phenomenon in order not to lose profits.
You can check the interest rate to date on the site of the Central Bank. Since the key rate is floating, it is very often changing, then decreasing, increasing, then before making a loan, it is necessary to familiarize yourself with its relevant size.