BANKS OFFER FIXED INTEREST RATES TO ATTRACT CLIENTS

Fixed interest rates are the main focus of the promotional campaigns of domestic banks, a survey ofKlassa daily showed. As of today, MKB Unionbank offers a consumer loan with a 'frozen'rate for the entire period. The maximum size is up to BGN 5,000 and up to €7,500 and the longest period is seven years. The trend of households' preference for borrowing loans with fixed interest due to the unstable economic environment was confirmed by Maria Ilieva, CEO of the bank.

In addition to fixed interest rates for consumer credits, banks already offer mortgage loans with a 'frozen' interest rate. Emporiki Bank, for example, was among the first financial institutions to offer such a product, negotiable for various periods of three to five years. In order to take advantage of this opportunity customers must get their salary on a debit card of the bank and use a credit card of the same financial institution. Alpha Bank - Sofia Branch adversities to households various periods of an initially fixed interest rate - three, five, seven or ten years, during which the interest rate will be 6.4%, 6.7%, 6.9% and 7.2% respectively. 

First Investment Bank offers mortgage loans with a fixed interest rate for the first three years of repayment, on condition that the borrower gets his/her wage from the bank. UniCredit Bulbank has also launched fixed interest rate loan product. The financial institution offers mortgage credits at an interest rate fixed at 7.39% for the first five years. Raiffeisenbank is the only one to have launched a campaign for extending new loans to small- and medium-sized enterprises with a fixed interest rate for the first year of repayment. Credits in euros are offered at an annual interest of 6.8% and those in Bulgarian leva - at 7%.