“Rzeczpospolita”: Overpaying loans is no longer so tempting for Poles
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The lower inflation and interest rates, the less stress there is on household budgets. Among others Therefore, the tendency to repay debts faster has begun to decline significantly, reports “Rzeczpospolita” on Tuesday.
Data from the Credit Information Bureau show that in 2023, Poles spent approximately PLN 16.7 billion on overpayment of their loans – by approximately 27 percent. less than the record-breaking year in this respect in 2022 (then it was PLN 22.8 billion).
Similar trends can be seen in the value of early repayments of entire loans. In 2021, they amounted to PLN 18.2 billion, then increased to almost PLN 30 billion in 2022, and last year they decreased by approximately 19.2%, to PLN 23.9 billion – reports “Rzeczpospolita”.
The newspaper points out that overpayments of loans are also the result of rational calculations about what is more profitable to do with one’s financial surpluses.
“If the interest you can get on bank deposits or other safe forms of saving is significantly lower than the interest paid on your liabilities, it is more beneficial to overpay your loans. In 2022, this disproportion was particularly large, when the interest rates on bank deposits grew significantly slower than the interest rates on loans,” HREIT chief analyst Bartosz Kurek told “Rzeczpospolita.” (PAP)
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