In October, the average weighted effective interest rate on total approved loans, which includes all associated costs, decreased by 0.02 percentage points, amounting to 6.57%, according to data from the Central Bank of Montenegro (CBCG).
The average weighted nominal interest rate on total approved loans also decreased by 0.02 percentage points on a monthly basis, reaching 6.07%, as reported in the CBCG Bulletin.
The average weighted effective interest rate on newly approved loans in October increased by 0.07 percentage points, rising to 6.71%, while the nominal rate decreased by 0.07 percentage points to 6.03%.
Interest rates on loans from microcredit financial institutions (MFI) for total approved loans in October increased by 0.01 percentage points, with the effective rate at 21.75% and the nominal rate at 19.44%.
For newly approved loans, MFI interest rates in October fell, with the effective rate decreasing by 0.17 percentage points to 22.31%, and the nominal rate dropping by 0.34 percentage points to 19.88%.
The average weighted effective interest rate on deposits in October decreased by 0.01 percentage points compared to September, amounting to 0.24%.
The difference between active and passive interest rates in October was 6.33 percentage points, lower than in September.
