ING Bank Śląski to resume variable rate mortgage loans from September 30

ING Bank Śląski announced today that it will resume offering mortgage loans with variable interest rates starting September 30, 2024. The loans will be based on the WIBOR 1M reference rate, allowing customers to apply for credit under this new arrangement.

According to the bank’s statement, “From September 30, 2024, applicants will have the option to select a variable interest rate linked to the WIBOR 1M benchmark. This interest rate will be composed of the WIBOR 1M rate plus the bank’s margin.”

In addition to variable rate options, the bank will continue to offer mortgage loans with periodically fixed rates. For these loans, the fixed interest rate will apply for the first 60 months after the loan’s disbursement. After this period, customers can opt for a new fixed interest rate for an additional five years. If they choose not to extend the fixed rate, the loan will then transition to a variable interest rate, again based on the WIBOR 1M benchmark plus the bank’s margin.

This move is expected to provide greater flexibility for borrowers as they navigate the evolving interest rate landscape.

Source: ING Bank Śląski and ISBnews