Deposit Interest Rates Slightly Increase - BNB

Interest rates on customer deposits have recorded a minimum increase in January , according to Bulgaria’s National Bank (BNB) data.

The average annual interest rate on new BGN deposits was 3.89% , while the EUR recorded annual interest rates of 3.44% .

For comparison, in the last month of 2013 BGN deposits were negotiated with an average interest rate of 3.76% , while the EUR interest rate was 3.43%.

On an annual basis, the BNB reports a noticeable decline in interest rates. In January 2013 , deposits in BGN had an average interest rate of 4.73%, while those in EUR had rates of 4.25%.

According to the BNB, consumer loans in BGN reported the highest increase on an annual basis, with 11.52% interest rates in Jan 2013 compared to 12.12% in Jan 2014.

The business loans have recorded a slight raise in January, as the greatest interest rate growth is reported for loans over EUR 1M.

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