Interest rates on loans for approximately 150 thousand pensioners will reduce through the agreement reached between the government and Liberty Bank.
The contracts will be renewed reflecting the refinancing rate of the National Bank of Georgia (NBG) from March 15 for elderly customers who took the loans or overdrafts before January 1, 2023.
The special formula based on which the pension loan rate should be calculated is as follows: six-month TIBR index plus 15%. The TIBR index is the Tbilisi interbank rate index, which is usually equal to the refinancing rate of the National Bank. Therefore, according to the current situation, the interest rate of pension loans should be within 23-24 percent.
Prime Minister Irakli Kobakhidze met representatives of the NBG and Liberty Bank on February 22. Following the meeting, it became known that more than 150,000 pensioners will have their interest rates on loans reduced.
