Further decline in interest on loans

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Further decline in interest on loans, today, Wednesday, February 10, 2021 03:57 AM

History: February 10, 2021

The interest rates on transactions in dirhams between banks (EIBOR) have decreased further, which has increased the attractiveness of the lending market in the UAE since the beginning of 2021.

The latest data of the Central Bank yesterday showed a decrease in EIBOR rates on all terms, especially the one-year term and the 6-month term, as it decreased on the first to the level of 0.497% and on the second to 0.436%. Issued by the Central Bank.

In light of the continuous decline in EIBOR prices in the country, local banks are making attractive offers to individuals and institutions at an interest rate of up to 2.5% on loans provided to some segments of customers. These attractive rates are among the interest rates on the most attractive loans in the Arab Gulf countries and the Middle East, which reflects the availability of a large surplus of liquidity in the UAE banking system, which is classified as the strongest in terms of solvency in the region.

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