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    Euribor at the historical minimum, INTERESTS on loans in Serbia are FALLING

    Interest rates on three-month interbank loans in the eurozone, Euribor, have sunk these days to a historic low of minus 0.49 percent. This means that instalments will be automatically reduced for all debtors whose loans are linked to Euribor. Namely, in every formula for calculating the loan interest, and in which Euribor appears, quarterly or more often semi-annual, it means that it is a variable rate that is adjusted in accordance with the movement of its value. On the other hand, this could mean an additional drop in interest rates on savings in euros. Euribor is the interest rate at which banks lend money to each other. Its value is part of the total interest on the loan, which means that its growth directly increases both the interest and the monthly instalment. For the sake of comparison, ten years ago, Euribor was higher than 4.5 percent, and a possible jump to two percent could increase today’s monthly instalment from 250 euros to 310 euros. However, experts say that the return of Euribor to the old high values ​​will not be so fast, but a slight increase in European interest rates should be expected.

    Izvor: BIZLife

    Foto: Pixabay

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