ProCredit Bank

ProCredit Bank

Interest rate LIBOR / EURIBOR / TDA 9M / AIR 12M / AIR 6M

Dear clients,

Starting from December 15th, 2018 new interest rates will be introduced:

 

Interest rate

From

December 15th  2018,

(% p.a.)

From

November 15th 2018,

(% p.a.)

LIBOR  2.8001% 2.6039%
EURIBOR - 0.2590%

- 0.2680%

TDA 9M  12.50%  12.50%
AIR 12M  5.44%

  5.54%

AIR 6M  5.23%   5.38%

 

We wish to inform you of changes to LIBOR / EURIBOR / TDA 9M / AIR 12M / AIR 6M interest rates, which are modified every six months. Interest rates on loans with floating rates indexed to LIBOR / EURIBOR / TDA 9M / AIR12M / AIR 6M will be modified and client repayment schedules will be revised accordingly.
LIBOR / EURIBOR rates are used to calculate the interest rate on loans with a term greater than one year which have been disbursed in USD, EUR, or in MDL indexed to USD or EUR.
TDA 9M is used to calculate the interest rate on loans disbursed in MDL with a term greater than one year (for loans granted on or before 27 June 2016).
AIR 12M is used to calculate the interest rate on loans disbursed in MDL (for loans granted on or after 28 June 2016).
AIR 6M is used to calculate the interest rate on loans disbursed in MDL (for loans granted on or after 15 January 2017).                                                                  
LIBOR (London Interbank Offered Rate) is an average interest rate for loans in the international market. LIBOR is the most common indicator of short-term interest rates in the world and its calculation is overseen by the British Bankers’ Association.
EURIBOR (European Interbank Offered Rate) is used as the minimum or basic interest rate for loans in the European market. Euribor calculation is overseen by the European Banking Federation, which represents credit institutions in the euro area, Iceland, Norway and Switzerland, as well as the Association of Financial Markets.
TDA 9M is the interest rate established for nine-month term deposits at ProCredit Bank Moldova. 
AIR 12M - is the interest rates which is based on the average financial value of all funds, attracted by the Bank in the 12 months prior to the end of the preceding month.
AIR 6M - is the interest rates which is based on the average financial value of the funds, attracted by the Bank in the 6 months prior to the end of the preceding month.

 

 *****

We would like to inform you that with effect from 01 February 2017, the EURIBOR reference rate used to determine revisions of the interest rate for loans in EUR will be calculated as zero %. This is due to the fact that this reference rate currently has a negative value.