Interest rates on loans in lei begin to fall in spring

The National Bank of Romania announced on Thursday that the pressure on interest rates for loans in lei is easing, following a steady increase throughout 2025. Starting this spring, the main index affecting new loan rates, known as the IRCC, will be lower.

Specifically, the IRCC is expected to decrease to 5.68% in the first quarter of 2026. This index, calculated by the NBR based on the interest rates at which banks lend to one another, is used to determine rates for loans in lei contracted after May 2019. In the last quarter of 2025, the IRCC was 6.06%, marking its highest level to date.

The IRCC reference index will begin to decline

„The IRCC reference index will begin to decline in the first quarter of 2026 to 5.68%,” stated officials from the NBR.

Although a lower IRCC indicates slightly reduced rates, the effects are not immediately noticeable and can vary depending on the loan amount and the fixed portion of the interest rate set by the bank. If interbank interest rates continue to trend downward, this decline could persist in the upcoming months. According to NBR data, „The downward trend in the IRCC could continue into the second quarter of 2026.”

Signs of stabilization

For Romanians with older loans taken out before May 2019, there are signs of stabilization. The ROBOR index, which applies in these cases, has fallen slightly at the beginning of the year. This index is calculated daily and mainly pertains to older loans and corporate credits.

As per the NBR, the 3-month ROBOR stands at 6.12%, while the 6-month ROBOR, commonly used for many mortgages, has decreased to 6.25%.

While the decline in these indices does not mean that lower rates will occur overnight, it may provide relief for borrowers after a prolonged period of rising credit costs.