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Interest rate development

The year 2012 is almost over. Late December is traditionally the time to look back on the year behind us. Pearl puts together an overview of various interest rate developments.

Interest rate development – Revolving credit

The interest rate revolving credit has shown little spectacular in the past year. There was a slight increase in mid-June. Around October, interest rates fell to about the same arrow as at the start of the year. Borrowing money in October was therefore possible at the same interest rate as in January.

Whereas interest rates on a revolving credit have had a reasonably stable year, savings rates have fallen sharply in the past year. More about the savings interest rates of 2012 and the expectations for 2013 can be found under ‘Savings interest expectation 2013’.

In contrast, the 3-month Euribor, the rate at which banks grant each other loans, fell sharply in 2012. Where a rate of 1,343 was recorded in January, it had fallen to 0.19 in December.

The fall in 3-month Euribor has had no impact on the interest on the revolving credit. Due to the uncertainty on the financial markets, most banks are not ready to lend money. Because lenders have been charging high margins on top of market rates for some time, they are not forced to increase them either.

Mortgage interest rate 2012

Mortgage interest rate 2012

The variable mortgage interest rate continued the upward trend of last year in January 2012. This shows an inventory of the mortgage rates carried out by Pearl. In January of this year, the average variable interest rate on an interest-only mortgage was 3.65 percent, also the highest rate this year. The variable interest rate fell slightly each month from January onwards, reaching 3.22 percent in December.

The average 5-year fixed-rate mortgage interest rate showed a downward trend until May of this year. This interest rate rose slightly in mid-July (to 4.09 percent). In the remainder of the year, the trend was fairly stable and in December it averaged 4.1.

10-year fixed-rate mortgage rate

10-year fixed-rate mortgage rate

The 10-year fixed-rate mortgage rate had a fairly stable year, with a slight outperformance down in May. The rate on a 10-year government loan, on the other hand, experienced a somewhat grim course. The capital market interest rate started the year at 2.24 and fell sharply in June (to 1.56). In July it was just above 2.0, before falling to a level of 1.59 in December.

Because the crisis is expected to continue in the coming year, experts expect that interest rates for mortgages with a long fixed-rate period will fall (slightly) further in the coming period.

Mortgage interest rates for 20 years also had little to do with fluctuations this year. In January it was still at an average rate of 5.80 percent, in December it was 5.79 percent.

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The first free loan without a register immediately to an account up to CZK 10000

Free things can surely delight, be it a sample of perfume or tasting ice cream. In the financial sphere, we can open a bank account free of charge, and its management also costs us nothing even withdrawals from foreign ATMs. Non-banking companies can provide us with interest-free money. What does such a first free loan look like?

First free loan immediately to payday

There is an increasing demand for free payday loans. You may be wondering what these companies do, but believe it is a good marketing move. After repaying the loan, there is a very good chance that you will come back and borrow again. Remember that this “action” usually only applies to the first loan. Money without interest is certainly fine and can be used to pay or to pay for unexpected expenses.

First free loan immediately to your bank account

Each client must meet conditions that may vary slightly for each company. The loan can be sought only by a person over 18 years of age, who has Czech citizenship and has his / her own bank account. The big advantage is that there is a good chance that the loan will be approved for a free loan. Thus, mothers on maternity leave, pensioners and / or students will also receive a free loan.

Loan up to 10000 free

Loan up to 10000 free

The usual amount that can be obtained for free is 10000 with a maturity of around one month. Keep in mind that the provider must verify your solvency. An entry in the debtors register may not be such a major problem, but sometimes this is the reason for rejecting the application.

Benefits of the first free loan

Benefits of the first free loan

  • you will not overpay an extra crown (if you meet the basic conditions)
  • low demands on applicants
  • you don’t need a guarantor
  • no collateral required
  • money is transferred immediately to your bank account
  • you don’t have to visit any branch

Disadvantages of the first free loan

Disadvantages of the first free loan

  • low maturity
  • A loan extension is usually charged
  • low amount to rent
  • only the first loan is free

Frequently Asked Questions for the First Free Loan

Can I borrow even if I am currently unemployed or in probation?
Even in this case, you can apply for a loan, but unfortunately your chances are reduced.

I am interested in more than 10000, can I borrow 50000 free of charge?
Unfortunately, such high amounts are not eligible for the promotion

Can a mother get a free loan on maternity leave or self-employed?
Yes, both of them are entitled to a zero overpayment loan

Do I have to prove my income?
Yes, usually a bank statement or a pay slip is required.

Compare loans that are free

For each non-bank provider you will find different parameters of the free loan, so it is recommended that you browse multiple pages. If you do not know where to start try independent comparators of non-bank products that will certainly help you make decisions.