The average weighted effective interest rate on total approved loans, which includes all associated costs, decreased by 0.02 percentage points in November, reaching 6.55%, according to data from the Central Bank of Montenegro (CBCG).
“The average weighted nominal interest rate on total approved loans decreased by 0.03 percentage points in November, amounting to 6.04%,” stated the CBCG Bulletin.
Interest rates on newly approved loans also fell in November, with the effective rate dropping by 0.73 percentage points to 5.98%, and the nominal rate decreasing by 0.52 percentage points to 5.51%.
Interest rates from microcredit financial institutions (MFIs) on total approved loans in November fell as well, with the effective rate decreasing by 0.05 percentage points to 21.7%, and the nominal rate falling by 0.02 percentage points to 19.42%.
Interest rates on newly approved loans from MFIs dropped in November, with the effective rate decreasing by 0.15 percentage points to 22.16%, and the nominal rate falling by 0.03 percentage points to 19.85%.
The average weighted effective interest rate on deposits in November was 0.01 percentage points higher than in September, reaching 0.25%.
The difference between active and passive interest rates in November was 6.3 percentage points, a decrease compared to October.
