The Monetary Policy Board unexpectedly raised all interest rates on NBP today, including the reference rate, which sets the maximum interest rate for loans and loans to consumers. So it is known that as of tomorrow the interest rate will rise and therefore the interest rate premiums will increase – except for those taken on the basis of a fixed rate contract. We quickly calculated how much the maximum interest rate on loans and advances to consumers will be increased.
The Monetary Policy Council will raise interest rates from October 7, 2021
On October 6, 2021, the Monetary Policy Board held a meeting. The Board has set NBP interest rates at the following level:
- 0.50% reference rate on an annual basis;
- Lombard rate 1.00% on an annual basis;
- deposit rate 0.00% on an annual basis;
- Re-discount rate 0.51% on an annual basis;
- Discount rate of 0.52% on an annual basis;
The MPC decision will take effect on October 7, 2021.
Increase mortgage payments and cash. if? Rad…
What is the maximum interest rate on loans?
According to the Consumer Credit Act and the Civil Code (Section 359), the maximum annual nominal interest rate on loans and credits may be up to twice the statutory interest, which in turn is calculated by adding 3.5 percentage points to the reference rate NBP.
So far, the reference rate has been 0.1 percent. So the statutory interest was 3.6 per cent and thus the maximum interest rate on loans was 7.2 per cent.
“Problem solver. Proud twitter specialist. Travel aficionado. Introvert. Coffee trailblazer. Professional zombie ninja. Extreme gamer.”
More Stories
Below is the schedule of pension payments as of July 2022. Find out what benefits you will get after the changes [17.07.2022]
Overview of the new electric sports cars for the Hyundai Ioniq 5 N and Ioniq 6 N
Portugal has launched a floating solar power plant. It is the largest structure of this type in Europe – Economy