Bankmonitor: the detailed rules for the interest stop applicable to SME loans have been published

By: Trademagazin Date: 2022. 11. 02. 10:59

In the current economic situation, it is becoming more and more difficult for businesses to thrive, so the government is extending the interest rate freeze measure to business loans specifically to support companies. The detailed rules were published by the government yesterday.

The interest stop will apply to business loans and leasing contracts granted under market conditions with variable interest rates

What is an interest stop?

The interest stop protects loans with frequently variable interest rates from rising interest rates. In the current market environment, the price of these loans would rise significantly. Initially, the provision only applied to housing loans with interest rates linked to the reference interest rate, but now the measure also covers housing leasing contracts, mortgage loans with market interest rates with an interest period of up to 5 years, and business loans.

To be precise, the interest stop will apply to residential mortgage loans with an interest period of 3, 4 and 5 years from November 1, and for business loans from November 15.