Interest rates continues to decline

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foto: CBCG

Podgorica, (MINA-BUSINESS) – The weighted average effective interest rates for granted loans, including all related costs, decreased by 0.02 percentage points in September to 6.40 percent.

According to the statistics of the Central Bank of Montenegro (CBCG), published in its Bulletin, the weighted average nominal interest rate declined by 0.02 points in September to 5.80 percent.

In this period, the banks’ effective interest rate for newly granted loans increased by 0.07 percentage points to 6.55 percent, while the nominal one rose by 0.08 points to 5.90 percent.

The effective interest rate of microfinance institutions (MFIs) increased by 0.03 points in September to 24.32 percent, while the nominal one went up by 0.02 points to 20.54 percent.

The effective interest rate offered by the MFIs for newly granted loans rose by 0.17 points to 25.46 percent, while the nominal one saw a 0,09 percent increase to 21.24 percent.

The weighted average effective interest rate for deposits increased by 0.03 points to 0.58 percent in September.

The difference between the interest rates for loans and those for deposits declined to 5.82 percent.

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