Hrvatska poštanska banka continues to reduce interest rates on all existing citizen loans with variable interest rates from July 1, 2021, as stated in the announcement. HPB is lowering interest rates in accordance with the decrease of the national reference rates (NRS) for kuna by 0.04 percentage points and for euros by 0.03 percentage points, which brings a reduction in annuities for loan users who have contracted a variable interest rate, effective from August 1, 2021, onwards.
The national reference rates, which represent the average cost of financing in the Croatian banking sector, are continuously decreasing. Hrvatska poštanska banka uses NRS as a parameter for determining interest rates and adjusts them twice a year, in January and July.
Since the implementation of NRS in 2013, the total reduction in interest rates amounts to 2.34 percentage points for loans in kuna and 3.12 percentage points for loans in euros, and accordingly, during the past eight years, annuities have been reduced and the repayment of credit obligations has been facilitated.
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