After almost seven years, Euribor – bank-to-bank lending rate – has risen. Euribor is an integral part of the interest rate at which almost 30 percent of loans in Montenegro are approved. According to interlocutors of TVCG, debts on these loans have increased slightly for now, but greater growth can be expected in a long run, so they advise citizens to negotiate with banks and shift from floating to fixed interest rates.
In early July, the Montenegrin banks informed citizens who took loans at floating interest rates that they would have to pay more money depending on the amount of the loan, interest rate and maturity. According to data of the Central Bank of Montenegro, such loans make up 28% of the total number of approved loans.
