site.btaLoan and Deposit Rates in May 2024: Central Bank Data

The base interest rate in Bulgaria in May 2024 was 3.78%, decreasing by 0.01 percentage points in comparison with April 2024, the Bulgarian National Bank reported on Thursday. In May 2024 the LEONIA Plus index remained unchanged at the level of 3.78%. The LEONIA Plus is a reference rate of concluded and effected BGN unsecured overnight deposit transactions in the interbank market in Bulgaria. The interest rate on excess reserves was 0.00%, retaining its level from April 2024.

Business loans

In May 2024 the average interest rate on loans up to EUR 1 million agreed in BGN in the non-financial corporations sector increased by 0.06 percentage points to 4.27%, while that on loans over EUR 1 million decreased by 0.02 percentage points to 4.45%. The average interest rate on loans up to EUR 1 million agreed in EUR declined by 0.56 percentage points to 4.78%, while that on loans over EUR 1 million rose by 0.11 percentage points to 5.61%. In May 2024, the average interest rates both on BGN and EUR overdraft decreased by 0.02 percentage points to 3.62% and 5.41%, respectively.

Household loans

In May 2024 the average interest rate on BGN consumer loans increased by 0.77 percentage points to 9.03% and the annual percentage rate of charge (APRC) on these loans – by 0.83 percentage points to 9.67%. The average interest rate on BGN loans for house purchases rose by 0.02 percentage points to 2.51% and the respective APRC remained unchanged at the level of 2.80%. The average interest rate on BGN other loans increased by 0.33 percentage points to 4.04%. The average interest rate on BGN other loans to sole proprietors rose by 0.32 percentage points to 4.01%. In May 2024 the average interest rate on BGN overdraft declined by 0.20 percentage points to 14.63% and that on BGN extended credit card credit – by 0.39 percentage points to 20.74%.

Business deposits

In May 2024 compared to April 2024 the average interest rate on BGN deposits with agreed maturity in the non-financial corporations sector decreased by 0.02 percentage points to 1.97%, while that on EUR deposits with agreed maturity increased by 0.14 percentage points to 2.62%. The average interest rate on BGN overnight deposits retained its level at 0.05%, while that on EUR overnight deposits rose by 0.01 percentage points to 0.09%.

Household deposits

In May 2024 the average interest rate on BGN deposits with agreed maturity decreased by 0.21 percentage points to 0.76%, while that on EUR deposits with agreed maturity increased by 0.32 percentage points to 1.41%. The average interest rate on BGN overnight deposits retained its level at 0.01%, while that on EUR overnight deposits decreased by 0.01 percentage points to 0.01%. The average interest rates on both BGN and EUR deposits redeemable at notice retained their previous month levels of respectively 0.10% and 0.15%.