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    Average interest rate for loans drops in Azerbaijan

    Average interest rate for manat loans is 12.31%, for foreign currency loans – 8.69%© Courtesy İmage

    Baku. 9 May. REPORT.AZ/ Average interest rate for loans in national or foreign currency slightly decreased in March. Interest rate for manat credits dropped from 12.42% to 12.31%, for credits in foreign currency – from 8.81% to 8.69%.

    Report informs referring to monthly report of the Central Bank of Azerbaijan (CBA).

    Average interest rate for manat loans provided to individuals was 15.80%, which is lower in comparison with previous month by 0.2%.

    Foreign currency loans to individuals are handed out with 16.72% average interest rate, which is 0.13 percent lower in monthly comparison.

    According to report, by April 1, 2017 the average interest rate for manat credits provided to legal entities was 8.77%, while foreign currency loans was 5.60%. These indicators by March 1, 2017 were 8.86% and 5.64%, respectively. 

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