While the management of the National Bank explained to reporters the details of the introduction of the new Decree #7, which imposes a tax on deposits, banks added to the system new deposit products.
For example, Belarusbank has introduced a new deposit "Classic irrevocable" in rubles at 30% (refinancing rate plus 5%) and at 5% in foreign currency.
Irrevocable deposit means that for a certain period, the customer will not be able to withdraw their money. Although the First Deputy Chairman of the National Bank Taras Nadolny makes a reservation - you can get the money ahead of time in exceptional circumstances.
"These cases will be an extreme exception. For instance, the money could be needed in case of tragic accidents. Necessary documents are to be provided in this case. The decree gives the right to the banks, they will decide on their own," said Taras Nadolny.
"Revocable" or short-term loan will be also provided in Belarus, and they will have to be paid tax on. In addition, interest rates on the "irrevocable" deposits will be 3-5% higher than on short-term deposits.
According to the National Bank, the interest will be subject to tax. It will not be necessary to go and pay a 13% tax. The bank will make the necessary charges. Foreign currency deposits will be taxed in rubles.
Here is what the Deputy Minister for Taxes and Duties Svyatlana Shauchenka said:
"Income received in foreign currencies will be transferred at the date of income receipt into Belarusian rubles. The tax of 13% is paid in Belarusian rubles."
National Bank said that old deposits will not be subject to change and will not be taxed. But deposit extension will be available only on the terms of the decree, which means with tax.
Belarusbank repeated information about the new decree and the "wealth tax" several times. That is fast. Instruction is already in action.
But Belagroprombank even said that first of all there will only remain the deposits that correspond to the Decree #7, and secondly, rates of old deposits will drop unilaterally, even though you don't have to pay any tax on it.
"We have no new deposits, but we have removed those that do not meet the conditions and left those that are appropriate. Also, tomorrow the 26% rates will become the 25% rates," told representative of Belagroprombank. New deposits have appeared in private banks as well. For example, Priorbank today offers to have deposit accounts with the prefix "irrevocable" at 27% in rubles and 4.2% in dollars.
Employees of banks immediately warned us that the short-term deposits will be taxed. But new deposits have not yet appeared everywhere.
So far, Euroradio has not noticed much activity of Belarusians in banks -- no queues at the ticket offices of people wanting to withdraw their money. National Bank in the early stages expects an influx of customers to the banks coming for their money, said Taras Nadolny.
"Of course, any innovations in the financial market have always been perceived critically. Most likely, in the first stage some of the people will withdraw their money. But then again, this will happen at the first stage. We met with the banks yesterday, and there is no problem: if people want to withdraw the money, let them," said Nadolny.
But on the other hand, the National Bank expects that over time, people will understand: why lose profit on the current deposit and withdraw money. In addition, the regulator hopes that people will have long deposits.
Taras Nadolny said that to date, 82% of deposits in Belarusian rubles are short-term. The situation with foreign currency deposits is better - 60% are foreign currency deposits are for up to one year.
