Loan Interest Rates Drop 1-1.5%


The National Bank of Greece decreased business loans interest rates by 1.5 percent. A relevant decision is expected to be taken regarding other kinds of loans, while Piraeus Bank and Eurobank also proceeded to the same reductions on interest rates.

The management Board of NBG announced that the interest rates on working capital loans for financing fixed plant and equipment is decreasing by 1.5 percent and stands at 6 to 6.35 percent. The new interest rates will apply from September 23.

Very soon the National Bank of Greece will announce new reductions, above 1 percent, on the variable interest rates of households and mainly within the category of consumer credit.

The reductions started from Piraeus Bank, which decreased by 1 percent the basic interest rates of business credits, such as the interest rates on credit cards, while Eurobank proceeded to a smaller reduction of 0.25 percent.


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