Bank credits expensive in Georgia
By Messenger Staff
Tuesday, April 8According to the National Bank of Georgia (NBG), the average interest rate on bank loans in Georgia is around 17% annually, whereas the average interest rate on deposit accounts is around 6.2%. So, the loan’s interest rate is almost three times higher than the deposit interest rate.
Georgia is in first place with this data in the world.
The bankers explain this by the risks they have while functioning in Georgia. However, analysts think that the interest rate for the loans is extremely high.