Independent Balkan News Agency

Loan interests go up, savings interests almost zero

Loan interests go up, savings interests almost zero
In Albania, the gap between interest rates on loans and deposits is widening, while interest rates on deposits are almost zero.

This is confirmed by the Bank of Albania, according to which, deposits with a maturity period from 1 to 60 months yielded zero interest during the month of February this year, both in Lek or foreign currency. Meanwhile, the highest interest rate seems to have amounted to 2%.

On the other hand, the highest interest rate on loans was 9% for 6 month loans. We also need to stress the fact that interest rates on loans that are given by the Albanian banking sector to both individuals or businesses are no lower than 4%. This figure is mostly encountered on new loans allocated in euro for a period from 1 to 3 years or over 5 years. /

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