In August, the average weighted effective interest rate on all approved loans rose by 0.01 percentage points to 6.61%, according to data from the Central Bank (CBCG).
“The average weighted nominal interest rate decreased by 0.01 percentage points on a monthly basis, standing at 6.1%,” the CBCG Bulletin states.
Interest rates on newly approved loans increased in August, with the effective rate rising by 0.64 percentage points to 6.73%, and the nominal rate by 0.45 percentage points to 6.08%.
Microcredit financial institutions (MFIs) also saw increases in interest rates for total approved loans, with the effective rate up by 0.05 percentage points to 21.73%, and the nominal rate up by 0.06 percentage points to 19.39%.
The average weighted effective interest rate for MFIs on newly approved loans fell by 0.34 percentage points to 22.84% in August, while the nominal rate decreased by 0.26 percentage points to 20.46%.
The average weighted effective interest rate on deposits in August was lower by 0.01 percentage points, at 0.25%.
The difference between active and passive interest rates in August was 6.36 percentage points, an increase compared to July.
