Tvoy Raschet

Interest rate: what it is

The price of using borrowed money, as a percentage of the debt per year. For example, at 12% a year, 12,000 ₽ of interest accrues over a year on every 100,000 ₽ of debt.

In Russian: Процентная ставка·Protsentnaya stavka

Loans and mortgages Checked by the editorial team Checked: September 2026
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In Russia, Kazakhstan and Belarus

Russia

The rate can be fixed (it does not change for the whole term) or floating (linked, for example, to the Central Bank's key rate). Interest on a loan is usually charged daily on the outstanding balance, and the real price of the loan is shown by the full cost of credit (ПСК, PSK).

Kazakhstan

In Kazakhstan contracts call it the remuneration rate (ставка вознаграждения), and the real price of the loan is the annual effective rate (ГЭСВ, GESV).

Belarus

In Belarus the rate can also be fixed or variable; a variable rate is often linked to the National Bank's refinancing rate.

Sources: Bank of Russia financial literacy website «Финансовая культура» (Financial Culture)

This information is for reference only and does not constitute financial, tax or legal advice. Prepared by our editorial team, last checked: September 2026. Found an error? Write to us.

Related terms

Key rateThe main interest rate of the Bank of Russia: the rate at which it lends to banks and takes their spare money. It drives deposit and loan rates, tax on interest and late-payment penalties.Full cost of creditWhat a loan really costs, as an annual percentage and in roubles: it counts not only the interest rate but also insurance, fees and other mandatory payments.Effective interest rateThe real annual yield of a deposit, taking interest capitalization into account. For example, 15% per year with monthly capitalization gives about 16.08% over a year.Annuity paymentA loan payment that is the same amount every month. At the start of the term most of it is interest; towards the end most of it repays the principal.Loan overpaymentHow much you pay the bank on top of the amount you borrowed: all the interest over the term plus mandatory fees and insurance. The longer the term and the higher the rate, the bigger the overpayment.

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