The Central Bank announced the average interest rates on microloans and auto loans allocated to the population by the banking sector.
It was reported that the highest microloan rate was observed at TBC Bank, at 42.4%, while the lowest rate was observed at Aloqabank, at 21.8%.
The average annual interest rate for loans allocated for car purchases increased to 23.8%. Of this, the average interest rate for loans allocated to individuals (excluding microloans) is 24.2%, while the share for legal entities is 22.2%.
The most favorable rate is offered by "Ipoteka Bank" (21.3%), and the highest rate belongs to Infinbank (28%).
Due to the possibility that automobile manufacturers and suppliers may offer low-interest auto loans on favorable terms (for example, based on an initial down payment of the car price) based on agreements with commercial banks, and the fact that loan allocation conditions at banks change frequently, there may be a difference between the average interest rates noted above and the current average interest rates.
