Top Six Mortgage Programs in the Secondary Market Include Bank of Uralsib
In an evaluation of mortgage proposals, the top 50 Russian banks were assessed based on their retail credit portfolios as of April 1, 2025. Key factors considered included interest rates, monthly payments, total credit cost, and initial down payment percentage. Experts also evaluated mortgage insurance terms, methods to lower interest rates, applications of maternity capital, and related regulations.
Consumers are encouraged to assess their financial abilities and review the terms of mortgage programs offered by PJSC "BANK URAILSIB." These terms can be examined in person at bank branches, via phone calls at 8-800-250-57-57, or online on the PJSC "BANK URAILSIB" website. It is worth noting that PJSC "BANK URAILSIB" operates under a license issued by the Bank of Russia.
General Mortgage Program Terms in Russia
Current mortgage interest rates have been elevated due to the Central Bank’s high key rate, with base rates often surpassing 15% for standard mortgages, although forecasts suggest a decrease to approximately 8.5% by 2027. Government-sponsored or targeted programs, such as the “Family Mortgage,” provide significantly lower interest rates, typically around 6–8%.
Standard mortgages generally require a minimum down payment of 15–20% of the property’s value, while some subsidized programs may allow for lower down payments, sometimes as low as 10%. All mortgages require property insurance, with life and disability insurance being recommended or mandated for larger loans or higher-risk borrowers.
Maternity capital (a government subsidy for families with children) can be used as part or all of the down payment on a mortgage, provided that the borrower is eligible and the bank confirms eligibility. Ways to reduce interest rates include participating in state-backed programs, offering larger down payments, obtaining relationship discounts, and enrolling in loyalty programs that provide reduced rates in exchange for insurance, additional accounts, or other products.
Examples from Major Banks
Both Sberbank and VTB have witnessed a rise in troubled mortgages and consumer loans in 2025, mirroring broader economic stress. They offer a range of mortgage products, with high interest rates due to the Central Bank’s policy rate. Subsidized programs are available for eligible applicants, and standard requirements include proof of income, property appraisal, and insurance. Down payments are typically 20%.
Uralsib Bank has experienced a 1.5-fold increase in mortgage lending in early 2025, primarily in the form of loans for second homes and under the “Family Mortgage” program. This program, primarily designed for primary housing, features lower interest rates and special terms for families with children, allowing the use of maternity capital. Down payments can be as low as 10–15% for certain government-backed programs.
A summary table provides an overview of mortgage program terms for key Russian banks:
| Bank/Program | Interest Rate (2025) | Down Payment % | Mortgage Insurance | Maternity Capital Use | Ways to Reduce Rate ||------------------------|------------------------|---------------|-------------------|-----------------------|-----------------------------|| Sberbank (Standard) | 15%+ (varies) | 20% | Required | Eligible (programs) | Subsidies, loyalty discounts|| VTB (Standard) | 15%+ (varies) | 20% | Required | Eligible (programs) | Subsidies, relationship || Uralsib (Family Mtg.) | 6–8% (subsidized) | 10–15% | Required | Yes | Subsidized programs |
Additional Considerations
- The Russian government regularly adjusts support for mortgages, especially in programs targeted at families, young professionals, and specific regions. Eligibility for these programs may change.
- Economic uncertainty and high Central Bank rates have resulted in increased delinquencies and adjustments to lending policies.
- The number of complaints to the Central Bank about mortgages indicates heightened consumer stress, suggesting a need for improved transparency and terms in mortgage programs.
This summary provides a comprehensive view of current mortgage program terms for top Russian banks, but consult each bank’s official website or contact them directly for the most accurate and detailed information.
Consumers interested in securing a mortgage in Russia should review the terms of mortgage programs offered by PJSC "BANK URAILSIB," especially considering the current interest rates, which have been elevated due to the Central Bank’s high key rate, but are forecasted to decrease to approximately 8.5% by 2027. Additionally, potential borrowers should be aware of various methods to lower interest rates, such as participation in state-backed programs, larger down payments, and enrollment in loyalty programs.
