Even lower interest rates on existing loans starting 1 July

Zagreb, 2 June 2015 – After harmonizing the variable interest rates with the new reference rates, Erste bank will be applying more favourable interest rates on existing loans starting 1 July 2015. Thus interest rates on EUR loans with variable interest rates, taken out before 9 January 2013, will be 0.13 p.p. lower, the interest rates on HRK loans will be 0.12 p.p. lower, and the rates on CHF loans will be 0.76 p.p. lower. The lower interest rates do not apply to CHF housing and adaptation loans for which the rate has been set by the Consumer Credit Act to 3.23%.

This is the second harmonization and lowering of interest rates in the past six months. As a result, compared to year-end 2014 the interest rates on EUR loans with variable interest rates, taken out before 9 January 2013, will be 0.35 p.p. lower in total, and the rates on HRK loans will be 0.26 p.p. lower. The rates on CHF loans, except for housing and adaptation loans to which the regulated 3.23% rate applies, the interest rates will be 0.77 p.p. lower in total.

For clients who have taken out a EUR loan after 9 January 2013, with the 12-month EURIBOR variable rate, the interest rates are harmonized with the changes in the 12-month EURIBOR every 12 months since the signing of a particular loan contract. For these loans, the interest rates have fallen by between 0.17 and 0.46 percentage points in 2015, depending on the period when the harmonization of interest rates was carried out.