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An interest rate is the price you pay for the use of money. When we give you a mortgage binding offer and prepare your agreement, we offer a variable interest rate. This is made up of two parts, variable and fixed (margin). The margin is fixed for the entire period of the loan.

To calculate the variable interest rate, we use the Euro interbank market interest rate (Euribor), published by the European Money Markets Institute (EMMI). The variable interest rate can change depending on market changes, e.g. Euribor changes can cause interest rates to decrease or increase.

Mortgage loans may have a variable interest rate based on three or six-month Euribor rates.

Euribor interest base refers to the European interbank market interest rate, which is expressed as annual interest. The Euribor indicator is determined, administered, and published by the European Money Markets Institute, or another officially designated organisation.

Euribor is published daily, and updated on your mortgage schedule based on the period you selected on your application. Euribor changes will affect your monthly repayments. If the value of the Euribor indicator is negative, it's considered equal to zero.

The interest rate is determined for each customer individually. It depends on credit payment history, the purpose of the credit, the real estate selection, and other factors.

Mortgage loans are granted with a variable interest rate, which is based on either a three-month or six-month Euribor. For mortgage refinancing, the applicable interest rate consists of a fixed margin plus the relevant Euribor rate.

The Euribor rate is updated based on the Euribor term an applicant has selected. Any changes to Euribor will affect monthly mortgage payments.