Interband optical transitions in multilayer heterostructures with SiGe nanoislands were investigated using photocurrent spectroscopy and photo-emf. The n-p heterostructures containing Ge nanoislands in the area of the potential barrier were prepared by molecular-beam epitaxy at the temperature about 500 A degrees C. It was shown that electron transitions from the ground state of the valence band in a nanoislands to the conduction band of Si surrounding made the main contribution into the vertical photo-emf in the range 0.75-1.05 eV, which is below the interband absorption edge of Si. The lateral photoconductivity observed in the range 0.63-0.8 eV at 77 K can be attributed to indirect interband transitions from the ground state of a nanoisland to L-state of the conduction band of a nanoisland. Analysis of Raman scattering spectra revealed that the Ge composition x in a nanoisland is about 0.87, while elastic deformation value amounts to epsilon (xx) = -0.016. The calculated energies of interband transitions from the ground state of a nanoisland to the conduction band of Si surrounding (0.63 eV) and to L-state of the conduction band of a nanoisland (0.81 eV) fit the experimental data with a rather good accuracy.