Interest rates on loans granted under the state programme "First Home" are falling
From 1 July the maximum annual interest rate for new loans granted under the State Programme "First Home" has been lowered. Thus, as of this month, the rate is 10.87% per annum, which is 5.8 percentage points lower than the maximum interest rate applied so far, announces the Entrepreneurship Development Organisation. As a result, monthly loan repayments for active beneficiaries will be significantly reduced and potential beneficiaries of the programme will be able to take out new loans on more favourable terms.
The Entrepreneurship Development Organisation announces that, as of this month, the maximum annual interest rate for new loans granted through the State Programme "First Home" has been changed to approximately 11% per annum, 5.8 percentage points lower than the rate applied so far.
The revision of the reference rate was made possible by the slowdown in inflation and the easing of monetary policy by the National Bank of Moldova. Since the beginning of this year, rates on new deposits attracted by banks have been declining steadily, which has a positive impact on rates on new loans granted by banks.
The ODA provides state guarantees for loans accessed from commercial banks through the "First Home" programme. From 2018 to date, through the Program, loans with a cumulative value of over 4.4 billion lei have been granted, with 8,113 homes purchased.
More than 90% of these properties are apartments, and the rest are houses on the ground. The average area of a purchased dwelling is 61 square meters, with an average value of 640 thousand lei.
