In accordance with the provisions of the Credit Agreement, concluded within the framework of the "Prima Casa" Governmental Program and signed between OTP Bank S.A. (hereinafter "the Bank") and You, the change of the interest rate takes place every six months depending on the change of the Reference Index published by the National Bank of Moldova (hereinafter the "Reference Index") and, therefore, starting from 01.01.2023 follows to be applied a new interest rate, as a result of the change in the Reference Index.
In this context, it should be mentioned that the Reference Index, which would be applied to the calculation of interest according to the Credit Agreement, has currently increased by 3.95 percentage points, constituting 13.42%.
At the same time, resulting from the fact that:
- In accordance with the provisions of art. Six, paragraph (3) from Law no. 293/2017 regarding some measures for the implementation of the State Program "First House" (hereinafter "Law no. 293/2017"), for the loans granted, the interest rate increase will not exceed 4 percentage points every 6 months, and during 12 consecutive months it will not exceed 6 percentage points;
- The value of the Reference Index, applicable for the period 01.01.2022-30.06.2022, was 4.12%;
- The value of the Reference Index, applicable for the period 01.07.2022-31.12.2022, is 8.12%, which represents an increase in the Reference Index and, as a consequence of the interest rate applicable to the loan, by 4 percentage points compared to the previous period ;
- In order to ensure compliance with the provisions of art. Six, paragraph (3) from Law no. 293/2017, the interest to be applied for the period 01.01.2023-30.06.2023 can only be increased by a maximum of 2 percentage points.
The Bank hereby informs you that for the period 01.01.2023 – 06.30.2023 the value of the Reference Index will be 10.12% annually.
From January 2, 2023, the new loan repayment schedule will be available in any unit of the Bank.
For additional information, please contact your personal advisor or the Call Center at 022 256 456.
OTP Bank SA