site.btaCentral Bank Reports Gradual Interest Rate Increase in September

The Base Interest Rate (BIR) in September 2022 was 0.00%, retaining its level compared to August 2022. In September 2022 the LEONIA Plus index rose by 0.56 percentage points to 0.49%, the Bulgarian central bank reported here on Thursday. 

The Interest Rate on Excess Reserves was 0.00% and remained unchanged compared to the previous month.

Loans

In September 2022, the average interest rate on loans up to 1 million EUR agreed in BGN increased by 0.17 percentage points to 3.04% and that on loans over 1 million EUR - by 0.28 percentage points to 2.50%. The average interest rate on loans up to 1 million EUR agreed in EUR rose by 0.83 percentage points to 3.49% and that on loans over 1 million EUR - by 1.07 percentage points to 3.14%. In September 2022, the average interest rate on BGN overdraft increased by 0.07 percentage points to 2.40% and that on EUR overdraft - by 0.32 percentage points to 2.25%.

In September 2022 the average interest rate on BGN consumer loans decreased by 0.03 percentage points to 8.23% and the Annual Percentage Rate of Charge (APRC) on these loans - by 0.02 percentage points to 8.76%. The average interest rate on BGN loans for house purchases declined by 0.03 percentage points to 2.46% and the respective APRC - by 0.10 percentage points to 2.66%. The average interest rate on BGN other loans decreased by 0.17 percentage points to 3.04%.

The average interest rate on BGN other loans to Sole Proprietors declined by 0.27 percentage points to 2.94%. In September 2022 the average interest rate on BGN overdraft decreased by 0.03 percentage points to 14.35% and that on BGN extended credit card credit - by 0.02 percentage points to 20.36%.

Deposits

In September 2022 compared to August 2022 the average interest rate on BGN deposits with agreed maturity increased by 0.05 percentage points to 0.14% and that on EUR deposits with agreed maturity - by 0.19 percentage points to 0.25%. The average interest rates on both BGN and EUR overnight deposits were 0.00%, retaining their levels compared to August 2022.

In September 2022 the average interest rate on BGN deposits with agreed maturity increased by 0.10 percentage points to 0.27% while that on EUR deposits with agreed maturity decreased by 0.20 percentage points to 0.30%. The average interest rates on both BGN and EUR overnight deposits remained at 0.00%. The average interest rate on BGN and on EUR deposits redeemable at notice remained at 0.12% and 0.17%, respectively.