New loans are getting cheaper, old ones are getting more expensive

Moldovan banks granted new loans in the amount of 4.3 billion lei in November, 13% more than in November of 2021, according to data from the National Bank of Moldova, writes

The volume of credits in the national currency granted to individuals, in November 2022, increased compared to the previous month by 5.2 percent and amounted to 570.9 million lei. The average rate on these loans decreased by 0.22 p.p.

From the perspective of the purpose of loans granted to individuals, consumer loans held the largest share (79.3 percent) and were granted with an average rate of 15.43 percent (-0.27 p.p. compared to the previous month and + 6.05 p.p. compared to November 2021).


The average rate on real estate loans granted in the national currency decreased by 0.29 p.p. compared to the previous month and by 5.88 p.p. compared to November 2021 and constituted 12.89 percent.

Loans in the national currency decreased by 0.11 percentage points, while loans in foreign currency increased by 0.19 p.p.

As for the old loans granted, the banks made them more expensive. Thus, in the context of the publication by the National Bank of Moldova (NBM) on December 20, 2022, of the reference index, used to calculate the maximum effective interest rate for loans in lei granted to individuals, it increased by 3.95 percentage points, until to 13.42%. Respectively, the commercial banks revised their loan rates upwards. Thus, for mortgage loans – by 2.5 percentage points, for loans granted in the card of the “Prima Casa” program – with 2 percentage points, for car loans – with 2.5 percentage points, and for revolving loans on the card account – with 2 percentage points.

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