Big changes in loans. New system will affect installments
- Soon all new mortgage loans will be based on the new POLSTR index, which will replace WIBOR.
- POLSTR reflects actual transactions between financial institutions, while WIBOR is based on banks' declarations.
- This change will impact a market worth trillions of zlotys and will be felt by both companies and individual customers.
In a few years, the WIBOR index, which has a direct impact on the interest rates on our loans, will disappear. The new index will be POLSTR.
This is not just a cosmetic change, but a revolution in a market worth over PLN 6 trillion - according to KNF data at the end of last year. And although it sounds technical, its effects will be experienced by almost everyone - from investors, through companies, to the average "Kowalski" with a mortgage - money.pl reports.
The portal explains that POLSTR differs from WIBOR in the way it is calculated. WIBOR is based on banks' declarations regarding the rates at which they would be willing to lend to each other. In turn, POLSTR takes into account actual market data - it shows how many and what transactions actually took place between financial institutions.
POLSTR is based on the NBP deposit rate, which is currently 50 basis points below the reference rate used as a reference point for WIBOR.
When will the first "polster" loans appear?
- Tadeusz Białek, president of the Polish Bank Association, told money.pl that from the beginning of 2026 banks will start offering short-term loans to businesses with interest rates based on POLSTR.
- Then, in the second quarter of 2026, banks are to start offering loans to consumers, corporate and institutional clients.
- From the beginning of 2027, all new variable-rate mortgages will be based solely on the POLSTR index.
And what will happen to current loans? According to money.pl, two scenarios are being considered:
- voluntary change of indicator,
- mandatory change of indicator.
- I think both paths will be possible. The initiative will probably come from banks, but activity on the part of customers will also be welcome - says the president of the Polish Bank Association. "However, a statutory mechanism has been provided for less active customers. The Minister of Finance will issue a regulation that will automatically change the indicator in credit agreements. Planned date? 2028" - we read in money.pl.
How will loan installments react to the change in the indicator? "There is no clear answer to the question of how the loan installment will react after the change in the indicator. POLSTR operates according to a different mechanism - it will not always be higher than WIBOR and it will not always be lower," the portal reports.
wnp.pl
