In Slovenská sporiteľňa, you will pay extra for a mortgage or consumer loan! The bank INCREASES interest rates

Illustrative image for the article In Slovenská sporiteľňa, you will pay extra for a mortgage or consumer loan!  The bank INCREASES interest rates

According to the bank, interest rates are still relatively low. At the same time, however, it is realistic to expect further rate increases this year.

According to the bank, interest rates are still relatively low. At the same time, however, it is realistic to expect further rate increases this year.

Illustrative image for the article In Slovenská sporiteľňa, you will pay extra for a mortgage or consumer loan!  The bank INCREASES interest rates

The largest Slovak bank – Slovenská sporiteľňa – has been raising all interest rates on mortgage loans since Thursday (April 21). The reason is the development on the interbank market, when the price of long-term resources is rising, Slovenská sporiteľňa said on Wednesday.

The bank has recently raised interest rates on mortgage loans since early April. The rate adjustment will also affect consumer credit. With insurance, it will be possible to obtain a loan with an interest rate of 6.49% per annum.

It’s not over yet

The annual interest rate on mortgage loans with a one-year fixation will increase by one tenth of a percentage point (pp) to 0.89% per year, while on a three-year fixation the interest rate will increase to 1.49% from the current 1.09%.

Sporiteľňa significantly, by half a percentage point, adjusts the rate even for a five-year fixation, to at least 1.69%, and the interest rate on mortgage loans with a ten-year fixation will increase by 0.6 pp to 2.29%. The interest rate for fixing for 15 years will also increase by 0.6 pp from the current 2.09% to 2.69%.

Relatively low

According to the bank, interest rates are still relatively low. At the same time, however, it is realistic to expect further growth in rates this year, so it is more advantageous to choose longer fixations.

“Commercial banks’ mortgage rates are based on interbank market rates, which respond to rising inflation around the world. Central banks in the Central European region have long sought to dampen inflation expectations by raising rates. The US Federal Reserve is doing so, and the European Central Bank is likely to follow soon. “ supplied by the chief economist of Slovenská sporiteľňa Mária Valachyová.

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Source: TASR

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