In September, the average weighted effective interest rate on total approved loans, which includes all related costs, decreased by 0.02 percentage points on a monthly basis, reaching 6.59%, according to data from the Central Bank of Montenegro (CBCG).
“The average weighted nominal interest rate on total approved loans decreased by 0.01 percentage points, amounting to 6.09%,” the CBCG Bulletin states.
The average weighted effective interest rate on newly approved loans in September fell by 0.09 percentage points to 6.64%, while the nominal rate rose by 0.02 percentage points to 6.1%.
Interest rates at microcredit financial institutions (MFIs) on total approved loans increased in September, with the effective rate rising by 0.01 percentage points to 21.74%, and the nominal rate increasing by 0.04 percentage points to 19.43%.
For newly approved loans at MFIs in September, the effective rate decreased by 0.36 percentage points to 22.48%, while the nominal rate fell by 0.24 percentage points to 20.22%.
The average weighted effective interest rate on deposits in September remained unchanged compared to August, standing at 0.25%.
The difference between active and passive interest rates in September was 6.34 percentage points, which was lower than in August.
