Podgorica, (MINA-BUSINESS) - The weighted average effective interest rate on total approved loans, which includes all associated costs, did not change on a monthly basis in November last year and remained at 6.23 percent. 

According to statistics published by the Central Bank of Montenegro (CBCG) in its Bulletin, the weighted average nominal interest rate decreased by 0.01 point to 5.71 percent in this period.

In November, the effective interest rates for newly granted loans remained at 6.04 percent, while the nominal rate dropped by 0.03 points to 5.52 percent. 

In this period, the effective interest rate of microfinance institutions (MFIs) declined by 0.35 points to 20.06 percent, while the nominal one decreased by 0.29 points to 18.12 percent.

The weighted average effective interest rate offered by the MFIs for newly granted loans decreased by 1.26 percentage points to 17.36 percent, while the nominal one dropped by 1.03 points to 15.87 percent.

Compared with October, the weighted average effective interest rate on deposits remained at 0.27 percent in November.