RegAlert2020-06-28
Added · Updated
Circular to Licensed Banks on Interest Rate Reporting
Licensed banks are required to electronically submit data to the Central Bank of Jordan by the end of the first working week of each month, starting with data from December 31, 2019. This data must include the weighted average interest rates on facilities granted or renewed and deposits linked or renewed during the previous month, as well as the nominal unweighted interest rates for direct deposits and facilities. This circular supersedes the provisions of Circular No. (2/2/12188) dated October 8, 2014.
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In the name of God, the Most Gracious, the Most Merciful
Central Bank of Jordan
Number: 10/10/7615
Date: 6/11/1441 AH
Corresponding to: 28/6/2020 AD
Circular to Licensed Banks
Greetings,
Based on the provisions of Article (45/a) of the Central Bank of Jordan Law No. (23) of 1971 and its amendments, and within the framework of the Central Bank's endeavor to improve the accuracy of assessing changes in interest rates on deposits and facilities at licensed banks and linking them to the time periods of the change and their consistency with monetary policy trends, please proceed with the following:
First - Provide the Central Bank, starting from the beginning of each month, by the end of the first working week at the latest, with the following [according to the attached forms, an electronic copy of which will be circulated to compliance officers via email from us] electronically (Soft Copy) to the email: (DMAND@cbj.gov.jo):
- The weighted average interest rates on facilities granted or renewed and the average interest rates on deposits linked or renewed during the previous month.
- The nominal unweighted interest rates for both direct deposits and facilities (linked/granted and renewed) during the previous month.
Second - The above shall be effective starting from the data of 31/12/2019, provided that paper submissions of data shall cease.
Third - The content of our Circular No. (2/2/12188) dated 8/10/2014 is hereby cancelled.
Please accept our highest regards,
Governor
Dr. Ziad Fariz
- Attached
Form (1/1/09)
P.O. Box 37 • Amman 11118 Jordan • Tel 4630301 • Fax 4638889 • Website: www.cbj.gov.jo • Email: info@cbj.gov.jo
CENTRAL BANK OF JORDAN
Appendix (1)
First: Interest Rates on Facilities Granted or Renewed and Their Volume During the Month in Jordanian Dinars:-
| Overdraft | Credit Cards | Current Account Debit | Small and Medium Enterprises SME's | Individuals |
|---|---|---|---|---|
| Less than one thousand dinars | Less than one thousand dinars | |||
| More than (10) thousand dinars up to (50) thousand dinars | More than (10) thousand dinars up to (50) thousand dinars | |||
| More than (50) thousand dinars up to (100) thousand dinars | More than (50) thousand dinars up to (100) thousand dinars | |||
| More than (100) thousand dinars up to (500) thousand dinars | More than (100) thousand dinars up to (500) thousand dinars | |||
| More than (500) thousand dinars up to one million | More than (500) thousand dinars up to one million | |||
| More than one million dinars | More than one million dinars | |||
| Other Companies | ||||
| Less than one thousand dinars | ||||
| More than (10) thousand dinars up to (50) thousand dinars | ||||
| More than (50) thousand dinars up to (100) thousand dinars | ||||
| More than (100) thousand dinars up to (500) thousand dinars | ||||
| More than (500) thousand dinars up to one million | ||||
| More than one million dinars |
| Monthly Interest Rate (%) | Volume (in Dinars) |
|---|
- Take into account the distribution of interest over grace periods, if any.
- Adopt the conditions stated in our Circular No. (10/5/1711) dated 17/1/2010 for the purpose of defining small and medium-sized companies.
- Adopt the interest rate for demand accounts as previously calculated.
Form (1/1/09)
CENTRAL BANK OF JORDAN
Interest Rates on Facilities Granted or Renewed and Their Volume During the Month in Jordanian Dinars (Cont. 2)
| Loans and Advances | Monthly Interest Rate (%) | Volume (in Dinars) | ||
|---|---|---|---|---|
| Small and Medium Enterprises SME's | Less than one thousand dinars | One year or less | ||
| More than one year to three years | ||||
| More than three years | ||||
| General average interest rate | ||||
| More than one thousand dinars up to (10) thousand dinars | One year or less | |||
| More than one year to three years | ||||
| More than three years | ||||
| General average interest rate | ||||
| More than (10) thousand dinars up to (50) thousand dinars | One year or less | |||
| More than one year to three years | ||||
| More than three years | ||||
| General average interest rate | ||||
| More than (50) thousand dinars up to (100) thousand dinars | One year or less | |||
| More than one year to three years | ||||
| More than three years | ||||
| General average interest rate | ||||
| More than (100) thousand dinars up to (500) thousand dinars | One year or less | |||
| More than one year to three years | ||||
| More than three years | ||||
| General average interest rate | ||||
| More than (500) thousand dinars up to one million | One year or less | |||
| More than one year to three years | ||||
| More than three years | ||||
| General average interest rate | ||||
| More than one million dinars | One year or less | |||
| More than one year to three years | ||||
| More than three years | ||||
| General average interest rate | ||||
| Other Companies | Less than one thousand dinars | One year or less | ||
| More than one year to three years | ||||
| More than three years | ||||
| General average interest rate | ||||
| More than one thousand dinars up to (10) thousand dinars | One year or less | |||
| More than one year to three years | ||||
| More than three years | ||||
| General average interest rate | ||||
| More than (10) thousand dinars up to (50) thousand dinars | One year or less | |||
| More than one year to three years | ||||
| More than three years | ||||
| General average interest rate | ||||
| More than (50) thousand dinars up to (100) thousand dinars | One year or less | |||
| More than one year to three years | ||||
| More than three years | ||||
| General average interest rate | ||||
| More than (100) thousand dinars up to (500) thousand dinars | One year or less | |||
| More than one year to three years | ||||
| More than three years | ||||
| General average interest rate | ||||
| More than (500) thousand dinars up to one million | One year or less | |||
| More than one year to three years | ||||
| More than three years | ||||
| General average interest rate | ||||
| More than one million dinars | One year or less | |||
| More than one year to three years | ||||
| More than three years | ||||
| General average interest rate | ||||
| Total | Total one year or less | |||
| Total more than one year to three years | ||||
| Total more than three years | ||||
| Total general average interest rate |
Form (1/1/09)
CENTRAL BANK OF JORDAN
Interest Rates on Facilities Granted or Renewed and Their Volume During the Month in Jordanian Dinars (Cont. 3)
| Bills of Exchange | Monthly Interest Rate (%) | Volume (in Dinars) | ||
|---|---|---|---|---|
| Individuals | Less than one thousand dinars | One year or less | ||
| More than one year to three years | ||||
| More than three years | ||||
| General average interest rate | ||||
| Small and Medium Enterprises SME's | Less than one thousand dinars | One year or less | ||
| More than one year to three years | ||||
| More than three years | ||||
| General average interest rate | ||||
| More than one thousand dinars up to (10) thousand dinars | One year or less | |||
| More than one year to three years | ||||
| More than three years | ||||
| General average interest rate | ||||
| More than (10) thousand dinars up to (50) thousand dinars | One year or less | |||
| More than one year to three years | ||||
| More than three years | ||||
| General average interest rate | ||||
| More than (50) thousand dinars up to (100) thousand dinars | One year or less | |||
| More than one year to three years | ||||
| More than three years | ||||
| General average interest rate | ||||
| More than (100) thousand dinars up to (500) thousand dinars | One year or less | |||
| More than one year to three years | ||||
| More than three years | ||||
| General average interest rate | ||||
| More than (500) thousand dinars up to one million | One year or less | |||
| More than one year to three years | ||||
| More than three years | ||||
| General average interest rate | ||||
| More than one million dinars | One year or less | |||
| More than one year to three years | ||||
| More than three years | ||||
| General average interest rate | ||||
| Other Companies | Less than one thousand dinars | One year or less | ||
| More than one year to three years | ||||
| More than three years | ||||
| General average interest rate | ||||
| More than one thousand dinars up to (10) thousand dinars | One year or less | |||
| More than one year to three years | ||||
| More than three years | ||||
| General average interest rate | ||||
| More than (10) thousand dinars up to (50) thousand dinars | One year or less | |||
| More than one year to three years | ||||
| More than three years | ||||
| General average interest rate | ||||
| More than (50) thousand dinars up to (100) thousand dinars | One year or less | |||
| More than one year to three years | ||||
| More than three years | ||||
| General average interest rate | ||||
| More than (100) thousand dinars up to (500) thousand dinars | One year or less | |||
| More than one year to three years | ||||
| More than three years | ||||
| General average interest rate | ||||
| More than (500) thousand dinars up to one million | One year or less | |||
| More than one year to three years | ||||
| More than three years | ||||
| General average interest rate | ||||
| More than one million dinars | One year or less | |||
| More than one year to three years | ||||
| More than three years | ||||
| General average interest rate | ||||
| Total | Total one year or less | |||
| Total more than one year to three years | ||||
| Total more than three years | ||||
| Total general average interest rate | ||||
| Syndicated Loans | One year or less | |||
| More than one year to three years | ||||
| More than three years | ||||
| General average interest rate |
Form (1/1/09)
CENTRAL BANK OF JORDAN
| Individual Facilities | Monthly Interest Rate (%) | Volume (in Dinars) | ||
|---|---|---|---|---|
| Other | Housing Loans | Car Loans | ||
| Less than one year | Less than one year | Less than one year | ||
| From one year to three years | From one year to three years | From one year to three years | ||
| More than three years | More than three years | More than three years |
Form (1/1/09)
CENTRAL BANK OF JORDAN
Second: Interest Rates on Customer Deposits Linked or Renewed During the Month in Jordanian Dinars:-
| Interest Rates on Customer Deposits Linked or Renewed During the Month in Jordanian Dinars | Monthly Interest Rate (%) | Volume (in Dinars) | |||
|---|---|---|---|---|---|
| Demand | Social Security | ||||
| Individuals | |||||
| Small and Medium Companies | |||||
| Other Companies | |||||
| Savings | Social Security | ||||
| Individuals | |||||
| Small and Medium Companies | |||||
| Other Companies | |||||
| Time | Less than one thousand dinars | Social Security | |||
| Individuals | |||||
| Small and Medium Companies | |||||
| Other Companies | |||||
| More than one thousand dinars up to (10) thousand dinars | Social Security | ||||
| Individuals | |||||
| Small and Medium Companies | |||||
| Other Companies | |||||
| More than (10) thousand dinars up to (50) thousand dinars | Social Security | ||||
| Individuals | |||||
| Small and Medium Companies | |||||
| Other Companies | |||||
| More than (50) thousand dinars up to (100) thousand dinars | Social Security | ||||
| Individuals | |||||
| Small and Medium Companies | |||||
| Other Companies | |||||
| More than (100) thousand dinars up to (500) thousand dinars | Social Security | ||||
| Individuals | |||||
| Small and Medium Companies | |||||
| Other Companies | |||||
| More than (500) thousand dinars up to one million | Social Security | ||||
| Individuals | |||||
| Small and Medium Companies | |||||
| Other Companies | |||||
| More than one million dinars | Social Security | ||||
| Individuals | |||||
| Small and Medium Companies | |||||
| Other Companies | |||||
| Certificates of Deposit | Less than one thousand dinars | Social Security | |||
| Individuals | |||||
| Small and Medium Companies | |||||
| Other Companies | |||||
| More than one thousand dinars up to (5) thousand dinars | Social Security | ||||
| Individuals | |||||
| Small and Medium Companies | |||||
| Other Companies | |||||
| More than (5) thousand dinars up to (10) thousand dinars | Social Security | ||||
| Individuals | |||||
| Small and Medium Companies | |||||
| Other Companies | |||||
| More than (10) thousand dinars up to (50) thousand dinars | Social Security | ||||
| Individuals | |||||
| Small and Medium Companies | |||||
| Other Companies | |||||
| More than (50) thousand dinars up to (100) thousand dinars | Social Security | ||||
| Individuals | |||||
| Small and Medium Companies | |||||
| Other Companies | |||||
| More than (100) thousand dinars up to (500) thousand dinars | Social Security | ||||
| Individuals | |||||
| Small and Medium Companies | |||||
| Other Companies | |||||
| More than (500) thousand dinars up to one million | Social Security | ||||
| Individuals | |||||
| Small and Medium Companies | |||||
| Other Companies | |||||
| More than one million dinars | Social Security | ||||
| Individuals | |||||
| Small and Medium Companies | |||||
| Other Companies | |||||
| Cash Collateral for Direct Facilities | Social Security | ||||
| Individuals | |||||
| Small and Medium Companies | |||||
| Other Companies |
- For savings accounts, the actual interest rate is adopted, and the same applies to demand deposit accounts, provided that only demand accounts on which interest was calculated during the month are included in the equation.
Form (1/1/09)
CENTRAL BANK OF JORDAN
Appendix (2)
Two Examples of How to Calculate the Interest Rate on Deposits and Facilities
B. Facilities Granted or Renewed During the Month in Jordanian Dinars:-
| Customer | Amount | Interest Rate | Interest Value During the Month |
|---|---|---|---|
| X1 | 2,000,000 | 9.75% | 16,791.667 |
| X2 | 5,600,000 | 9.625% | 46,413.889 |
| X3 | 13,650,000 | 8.875% | 104,318.229 |
| X4 | 150,000 | 10.5% | 1,356.250 |
| Total | 21,400,000 | 168,880.035 |
Interest Rate = [[Total Interest Value During the Month] × 365] ÷ Number of Days in the Month Interest Rate = [168,880.035 × 365] ÷ 21,400,000 = 9.292% For this purpose, the year is considered 360 days
A. Customer Deposits Linked or Renewed During the Month in Jordanian Dinars:-
| Customer | Amount | Interest Rate | Interest Value During the Month * |
|---|---|---|---|
| X1 | 100,000 | 4.000% | 339.726 |
| X2 | 3,500,000 | 5.875% | 17,464.041 |
| X3 | 2,520,000 | 4.500% | 9,631.233 |
| X4 | 540,000 | 4.250% | 1,949.178 |
| Total | 6,660,000 | 29,384.178 |
Interest Rate = [[Total Interest Value During the Month] × 365] ÷ Number of Days in the Month Interest Rate = [29,384.178 × 365] ÷ 6,660,000 = 5.195% For this purpose, the year is considered 360 days
Form (1/1/09)
CENTRAL BANK OF JORDAN
Appendix (3)
Monthly Interest Rate (%)
First: Unweighted Interest Rate and Volume of Direct Facilities Granted or Renewed During the Month in Jordanian Dinars
| Individuals | |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Less than one thousand dinars | More than one thousand dinars up to (10) thousand dinars | More than (10) thousand dinars up to (50) thousand dinars | More than (50) thousand dinars up to (100) thousand dinars | More than (100) thousand dinars up to (500) thousand dinars | More than (500) thousand dinars up to one million | More than one million dinars | |||||||||||||||
| Interest Rate | Interest Rate | Interest Rate | Interest Rate | Interest Rate | Interest Rate | Interest Rate | |||||||||||||||
| Lowest | Highest | Average | Lowest | Highest | Average | Lowest | Highest | Average | Lowest | Highest | Average | Lowest | Highest | Average | Lowest | Highest | Average | Lowest | Highest | Average | |
| Monthly Interest Rate (%) | |||||||||||||||||||||
| Volume (in Dinars) |
Form (1/1/09)
CENTRAL BANK OF JORDAN
Unweighted Interest Rate and Volume of Direct Facilities Granted or Renewed During the Month in Jordanian Dinars (Cont.)
| Small and Medium Enterprises | Other Companies | |||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Less than one thousand dinars | More than one thousand dinars up to (10) thousand dinars | More than (10) thousand dinars up to (50) thousand dinars | More than (50) thousand dinars up to (100) thousand dinars | More than (100) thousand dinars up to (500) thousand dinars | More than (500) thousand dinars up to one million | More than one million dinars | Less than one thousand dinars | More than one thousand dinars up to (10) thousand dinars | More than (10) thousand dinars up to (50) thousand dinars | More than (50) thousand dinars up to (100) thousand dinars | More than (100) thousand dinars up to (500) thousand dinars | More than (500) thousand dinars up to one million | More than one million dinars | |||||||||||||||||||||||||||||
| Interest Rate | Interest Rate | Interest Rate | Interest Rate | Interest Rate | Interest Rate | Interest Rate | Interest Rate | Interest Rate | Interest Rate | Interest Rate | Interest Rate | Interest Rate | Interest Rate | |||||||||||||||||||||||||||||
| Lowest | Highest | Average | Lowest | Highest | Average | Lowest | Highest | Average | Lowest | Highest | Average | Lowest | Highest | Average | Lowest | Highest | Average | Lowest | Highest | Average | Lowest | Highest | Average | Lowest | Highest | Average | Lowest | Highest | Average | Lowest | Highest | Average | Lowest | Highest | Average | Lowest | Highest | Average | Lowest | Highest | Average | |
| Monthly Interest Rate (%) | ||||||||||||||||||||||||||||||||||||||||||
| Volume (in Dinars) |
Form (1/1/09)
CENTRAL BANK OF JORDAN
| Loans for more than 5 years | Loans from one year up to 5 years | |||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| More than one million dinars | More than (500) thousand dinars up to one million | More than (100) thousand dinars up to (500) thousand dinars | More than (50) thousand dinars up to (100) thousand dinars | More than (10) thousand dinars up to (50) thousand dinars | More than one thousand dinars up to (10) thousand dinars | Less than one thousand dinars | More than one million dinars | More than (500) thousand dinars up to one million | More than (100) thousand dinars up to (500) thousand dinars | More than (50) thousand dinars up to (100) thousand dinars | More than (10) thousand dinars up to (50) thousand dinars | More than one thousand dinars up to (10) thousand dinars | Less than one thousand dinars | |||||||||||||||||||||||||||||
| Interest Rate | Interest Rate | Interest Rate | Interest Rate | Interest Rate | Interest Rate | Interest Rate | Interest Rate | Interest Rate | Interest Rate | Interest Rate | Interest Rate | Interest Rate | Interest Rate | |||||||||||||||||||||||||||||
| Lowest | Highest | Average | Lowest | Highest | Average | Lowest | Highest | Average | Lowest | Highest | Average | Lowest | Highest | Average | Lowest | Highest | Average | Lowest | Highest | Average | Lowest | Highest | Average | Lowest | Highest | Average | Lowest | Highest | Average | Lowest | Highest | Average | Lowest | Highest | Average | Lowest | Highest | Average | Lowest | Highest | Average | |
| Monthly Interest Rate (%) | ||||||||||||||||||||||||||||||||||||||||||
| Volume (in Dinars) |
- Simple arithmetic mean (sum of interest rates divided by their number during the month).
Form (1/1/09)
CENTRAL BANK OF JORDAN
| Other | Car Purchase Financing | Aircraft Purchase Financing | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Interest Rate | Interest Rate | Interest Rate | |||||||
| Lowest | Highest | Average | Lowest | Highest | Average | Lowest | Highest | Average | |
| Monthly Interest Rate (%) | |||||||||
| Volume (in Dinars) |
- Simple arithmetic mean (sum of interest rates divided by their number during the month).
Form (1/1/09)
CENTRAL BANK OF JORDAN
Second: Unweighted Interest Rate and Volume of Deposits Linked or Renewed During the Month in Jordanian Dinars:-
| Monthly Interest Rate (%) | Volume (in Dinars) | |||
|---|---|---|---|---|
| Individuals | Less than one thousand dinars | Demand | ||
| Savings | ||||
| Time | ||||
| More than one thousand dinars up to (10) thousand dinars | Demand | |||
| Savings | ||||
| Time | ||||
| More than (10) thousand dinars up to (50) thousand dinars | Demand | |||
| Savings | ||||
| Time | ||||
| More than (50) thousand dinars up to (100) thousand dinars | Demand | |||
| Savings | ||||
| Time | ||||
| More than (100) thousand dinars up to (500) thousand dinars | Demand | |||
| Savings | ||||
| Time | ||||
| More than (500) thousand dinars up to one million | Demand | |||
| Savings | ||||
| Time | ||||
| More than one million dinars | Demand | |||
| Savings | ||||
| Time | ||||
| Companies and Institutions | Less than one thousand dinars | Demand | ||
| Savings | ||||
| Time | ||||
| More than one thousand dinars up to (10) thousand dinars | Demand | |||
| Savings | ||||
| Time | ||||
| More than (10) thousand dinars up to (50) thousand dinars | Demand | |||
| Savings | ||||
| Time | ||||
| More than (50) thousand dinars up to (100) thousand dinars | Demand | |||
| Savings | ||||
| Time | ||||
| More than (100) thousand dinars up to (500) thousand dinars | Demand | |||
| Savings | ||||
| Time | ||||
| More than (500) thousand dinars up to one million | Demand | |||
| Savings | ||||
| Time | ||||
| More than one million dinars | Demand | |||
| Savings | ||||
| Time |
- Simple arithmetic mean (sum of interest rates divided by their number during the month).
Form (1/1/09)
CENTRAL BANK OF JORDAN
Unweighted Interest Rate and Volume of Deposits Linked or Renewed During the Month in Jordanian Dinars (Cont. 1)
| Monthly Interest Rate (%) | Volume (in Dinars) | |||
|---|---|---|---|---|
| Social Security | Less than one thousand dinars | Demand | ||
| Savings | ||||
| Time | ||||
| More than one thousand dinars up to (10) thousand dinars | Demand | |||
| Savings | ||||
| Time | ||||
| More than (10) thousand dinars up to (50) thousand dinars | Demand | |||
| Savings | ||||
| Time | ||||
| More than (50) thousand dinars up to (100) thousand dinars | Demand | |||
| Savings | ||||
| Time | ||||
| More than (100) thousand dinars up to (500) thousand dinars | Demand | |||
| Savings | ||||
| Time | ||||
| More than (500) thousand dinars up to one million | Demand | |||
| Savings | ||||
| Time | ||||
| More than one million dinars | Demand | |||
| Savings | ||||
| Time | ||||
| Banks | Less than one thousand dinars | Demand | ||
| Savings | ||||
| Time | ||||
| More than one thousand dinars up to (10) thousand dinars | Demand | |||
| Savings | ||||
| Time | ||||
| More than (10) thousand dinars up to (50) thousand dinars | Demand | |||
| Savings | ||||
| Time | ||||
| More than (50) thousand dinars up to (100) thousand dinars | Demand | |||
| Savings | ||||
| Time | ||||
| More than (100) thousand dinars up to (500) thousand dinars | Demand | |||
| Savings | ||||
| Time | ||||
| More than (500) thousand dinars up to one million | Demand | |||
| Savings | ||||
| Time | ||||
| More than one million dinars | Demand | |||
| Savings | ||||
| Time |
- Simple arithmetic mean (sum of interest rates divided by their number during the month).
Form (1/1/09)
CENTRAL BANK OF JORDAN
Appendix (4)
Summary of Clarifications on Inquiries Received from Banks
| Inquiry / Note | Clarification |
|---|---|
| Regarding Appendix No. 1 / First / Statement / Current Account Debit item: Is the current account debit interest rate required to be evaluated by the amount granted or the utilized balance? | The average interest rates are calculated on the utilized balance during the month. |
| In case of partial utilization of the current account debit limit, is an interest rate calculated for this purpose? | The average interest rates are calculated on the utilized balance during the month. |
| Regarding Appendix No. 2 / Second: Under which item are interest rates linked to the public sector classified? | Interest rates for the public sector are listed according to the type of deposit. |
| Are non-performing facilities included in the data required under this item? | Non-performing facilities are not included in the data related to this item. |
| Regarding Appendix No. 1 / First / Statement / Other item: What is meant by the classification (Other) under (Individual Facilities)? | This refers to any loan granted that does not fall under car loans or housing loans, such as personal loans and credit cards. |
| What is the classification of (Other Companies)? | This refers to companies that are not classified as small or medium-sized companies and do not meet the conditions stated in our Circular No. (10/5/1711) dated 17/1/2010, which clarified how to define small and medium-sized companies. |
| Is the report prepared for deposits in Jordanian Dinars only or for all currencies at the Jordanian Dinar equivalent? | The report is prepared for deposits in Jordanian Dinars only. |
| Regarding the weighted interest rate and the volume of deposits linked or renewed during the month in Jordanian Dinars, what is meant by the weighted interest rate? | It represents the calculation of the weighted average interest rate by the sum of interest amounts divided by the volume of facilities granted or renewed or deposits linked or renewed during the month. |
| Regarding facilities and deposits linked during the month, is the interest rate always calculated by dividing by the number of days in the month and not the number of days from the date of granting/linking? | The weighted average interest rate is calculated by the sum of interest amounts divided by the number of days in the month, while adhering to the interest at the level of each facility as stated in our examples in our applications. |
Form (1/1/09)
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