In October, the average interest rate for bank loans in the national currency increased by 0.1%, reaching 23.3% per annum, according to the Central Bank.
The rate for loans with terms up to one year slightly decreased compared to September, settling at 23.2%, although this is 2.6% higher than in October 2023. Meanwhile, in the long-term segment, the rate rose to 23.3%, but remains slightly below last year's level.
Interest rates in the consumer lending sector climbed to 23.9% (+0.1%), driven by loans with terms longer than one year. At the same time, rates for short-term loans decreased slightly to 25.3%.
The average interest rate for corporate loans has remained stable for the third consecutive month at 22.7%. Rates for short-term loans remained unchanged at 23.1%, while long-term loans showed a slight decrease to 22.5% (-0.1%).
In October, loans in foreign currency became slightly cheaper. The average rate was 10.1%—half a percent lower than in September and the same amount higher than last year.
Rates for short-term foreign currency loans fell by 1%, settling at 10.3%. Long-term loan rates experienced a minor increase to 10% (+0.1%).
Earlier, Spot reported a 1.5-fold increase in micro-lending over the nine months of 2024.