Interest rates on corporate loans exceeding €1 mln drop significantly in December
Mortgage loans’ prices continue to decrease in December 2012, both on an annual and a monthly basis – just like in November, showed Bulgarian National Bank (BNB) data. The average interest rate on credits in Bulgarian leva fell sharply by 1.06 percentage points, compared to December 2011 to 7.04%, and the interest rate on loans in euros dropped by 0.59 percentage points to 7.42%.
The interest rate on housing loans in the national currency declined insignificantly (by 0.08 percentage points) and that on loans in euros remained unchanged. The situation is similar regarding the annual percentage rate (APR), including fees and commissions charged in addition to the interest rate, i.e. the real cost of the credit.
In December 2012, the APR on housing credits in Bulgarian leva decreased by 0.73 on an annual basis and stood at 7.93%, and the APR on mortgage loans in euros dropped by 0.72 percentage points to 8.02%. The indicator decreased insignificantly on a monthly basis for credits in leva (by 0.06 percentage points) and remained unchanged for loans in euros.
The prices of consumer loans in Bulgarian currency rose at the end of 2012 on a monthly basis. In December, the average interest rate on consumer loans in leva dropped by 0.28 percentage points, compared to December 2011 and stood at 12.08%, while that on loans in euros declined by 0.45 percentage points to 9.29%. On a monthly basis, however, the average interest rates on consumer credits in leva increased significantly - by 0.79 percentage points, while those on loans in euros remained unchanged.
Despite the year-on-year decline in the average interest rates, the APR on consumer loans in leva increased by 0.24 percentage points in December 2012 to 14.03%, while the APR on consumer loans in euros fell by 0.35 percentage points to 10.65% on an annual basis. In December 2012, the APR on consumer credits in leva rose by 0.83 percentage points and that on loans in euros declined by 0.25 percentage points, compared to November.
Source: http://www.klassa.bg/