Interest rates on dinar loans went up by 12.39%

Interest rates on retail and corporate loans have considerably gone up in the last year or so.

For instance, the variable interest rate on retail loans in dinars is now 12.39%, which is a 4.39% jump compared to early 2022, Demostat says.

“Since July last year, the European Central Bank has raised its interest rates as many as six times – from zero to 3.5 percent, which implied automatic increase in Euribor and thus the monthly instalments for loans indexed in euros. At the same time, the National Bank of Serbia also raised its benchmark interest rate, as many as 12 times in the last year – from one to 5.75 percent,” Demostat adds.

Demostat also states that, in the case of existing loans, “businesses fared worse than the citizens because they are now paying 2.56 percentage points more than a year ago, while the citizens are paying 2.19 percent more. As far as new loans go, citizens fare the worse, as the banks raised interest rates on retail loans by 3.96% and 2.93% on corporate loans.

(Biznis, 21.03.2023)

This post is also available in: Italiano

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