Interest Rates on Consumer Loans Increased in March – BNB

Interest rates on deposits for the businesses are on the rise, according to the latest data of the Bulgarian National Bank.

For business loans up to BGN 1M, the average interest rate in BGN increased by 0.21% in March 2014 to 7.11%, but those in EUR dropped by 0.25% to 6.52%. For business loans over EUR 1M, the average interest rate increased by 0.53 percentage points to 6.53% in BGN and by 0.51 percentage points to 7.67% for those in EUR.

In March 2014, the average interest rate on BGN overnight deposits declined by 0.04% to 0.29% and on EUR overnight deposits–by 0.04% to 0.25%. On an annual basis, the average interest rate on BGN overnight deposits declined by 0.01% to 0.68% in March.

In March 2014, compared to March 2013, the average interest rate on BGN consumer loans increased by 0.46% to 11.60% and on those in EUR – by 0.04% to 9.33%. It declined by 0.32% to 6.64% on BGN loans for house purchases and on those in EUR – by 0.22% to 7.09%. The average interest rate on BGN loans for house purchases decreased by 0.20% and that on EUR loans for house purchases – by 0.29%.

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