The weighted average interest rate on new loans in lei (MDL) in Moldova reached a new historical minimum, amounting to 7.4% per annum in February 2021.
At the same time, compared to the previous month, it decreased by 0.28 percentage points, and compared to February of the previous year, it decreased by 1.34 percentage points. It should be noted that the historical minimum of the weighted average interest rate on new loans in lei in Moldova was previously 7.68% per annum and was registered in January 2021. As the National Bank of Moldova informed, in February 2021, loans to individuals were provided at an average rate of 6.08% (-0.8 p.p., compared to the previous month; -2.37 p.p. compared to February 2020), to legal entities - 8.35% (+0.03 p.p. p.p. and -0.49 p.p., respectively), and to individuals engaged in entrepreneurial activity - 8.96% (-0.07 p.p. and -1.5 p.p., respectively). The volume of loans in lei granted to individuals in February 2021 increased by 34.6% compared to the previous month, amounting to 850.2 million lei. In terms of the purpose of the loans provided, the largest share was made up of consumer loans (65.6%), which were issued at an average rate of 5.43% per annum (-1.25 p.p. compared to the previous month; -3.3 p.p.) .p., compared to February 2020). Average interest rate on loans for real estate in February of this year amounted to 6.87% and increased by 0.07 percentage points, compared to the previous month, but decreased by 0.48 percentage points, compared to February 2020. It should be noted that the share of mortgage loans issued in national currency amounted to 94.4%, and the share of consumer loans in lei was 99.4%. Loans in national currency with a maturity of 2 to 5 years were most in demand in the reporting month and were provided at an average interest rate of 6.97% (to legal entities - 8.43%, to individuals - 5.15%, and to individuals practicing entrepreneurial activity - 9.23%). At the same time, the highest average interest rate on loans in the national currency for legal entities was on loans with a maturity of up to 1 month - 9.57% per annum, for individuals - on loans with a maturity of 1 to 3 months - 8.42% per annum, and for individuals engaged in entrepreneurial activities, on loans for a period of 1 to 2 years - 9.66%. The lowest average interest rate on loans in lei for individuals was the rate on loans for a period of 2 to 5 years - 5.15%, for legal entities - the rate on loans for a period of 1-3 months, which was 8.02%, and for individuals engaged in entrepreneurial activity, the rate on loans for a period of 6 to 12 months, which amounted to 8.42%. // 04/07/2021 – InfoMarket
