The annual percentage rate (APR) on Bulgarian consumer loans has soared 11 pct to over 12 pct in the year to May 2008, the central bank said. Housing loans have grown costlier to 9.24 pct from 9.18 pct. The APR includes the loan interest rate as well as all types of fees and commissions. The interest rates on both household and corporate loans will continue the uptrend of recent months. The rates on new consumer loans have increased 0.96 percentage points to 10.77 pct. They have gained a respective 0.33 percentage points to 8.81 pct and 0.18 percentage points to 12.85 pct for housing and other loans. The respective interest rates on active loans have grown to 13.76 pct, 8.93 pct and 12.52 pct. The average interest rate on newly signed deposits with fixed maturity has surged to 5.05 pct, up 0.97 percentage points. This, however, is 0.19 percentage points down from April as the promotion aimed at attracting fresh resources ended. Experts say the trend has created a new phenomenon called banking tourism with customers migrating between bank with lucrative promotions. Source: Dnevnik, PIX Be FIRST, get all the latest NEWS about Bulgaria Property Market! Enter your E-mail to receive our Weekly Reports Enter your E-mail to receive our Daily Reports ShareThis
