Weighted average effective interest rate on approved loans, with included costs, dropped by 0,09 of a percentage point in December 2017 and amounted to 6,81%, reveals data of the Central Bank of Montenegro (CBCG).
“Weighted average nominal interest rate in December went down by 0,08 percentage points, i.e. 6,16%,” the CBCG newsletter has written.
Interest rates on newly approved loans dropped in December, i.e. the effective interest rate went down by 0,27 percentage points (6,23%) and nominal interest rate dropped by 0,54 percentage points (5,27%).
Interest rates of micro financial institutions (MFI) in December dropped by 0,04 of a percentage point, so the effective interest rate amounted to 24,24% whereas the nominal one -20,42%. Interest rates of micro financial institutions (MFI) on newly-approved loans in December also dropped (effective interest rate -24,35% and the nominal one – 20,18%).
