The Swiss National Bank (SNB) today raised interest rates by 50 basis points to 1.50 percent. This decision will affect the amount of loan payments made by franchise owners. Check how much the average borrower’s installment will increase.
Recall, the Swiss National Bank (SNB) on Thursday raised the main rate by 50 basis points - from 1 percent. to 1.50 percent This is the fourth consecutive increase. In June last year, the main rate rose from -0.75 percent. to -0.25 percent (ie by 50 basis points), then in September to 0.50 percent. (i.e. by 75 bp), and then again in December by 50 bp. up to 1%. Interest rates in Switzerland are at their highest level since 2008.
Bad news for franchisees. The highest contribution in history?
Today’s decision of the Swiss central bank will affect the amount of payments on loans to borrowers in francs.
Settlements on a loan in Swiss francs, granted in January 2008 for 30 years with a margin of 1.4%, in the amount of PLN 300,000. zł were presented by Chief Analyst of Expander Advisors Yaroslav Sadovski. The expert’s calculations show that the average borrower’s installment will be higher up to PLN 130.
Sadowsky points out that the calculation is for an installment plan “which will be paid out in about three months, when SARON 3M has fully accounted for today’s increase.” – If then the franc exchange rate is at a level similar to the current one (PLN 4.7), the contribution after the appreciation will be the highest in history – according to chief analyst at Expander Advisors.
According to the Credit Information Bureau (BIC) cited by TVN 24 Business, the number of active loans in Swiss francs decreased by almost PLN 46.5 thousand 342 000 last year, and the amount of repayments decreased by more than PLN 5.5 billion to PLN 86.5 billion.
The number of lawsuits against banks is growing
However, there are more and more lawsuits for credits in Swiss francs. According to PKO BP, at the end of last year, 19.5 thousand lawsuits were initiated against the bank. litigation, which means an increase of more than 7 thousand. compared to the end of 2021. Santander reported that at the end of 2022, 12.2 thousand applications had been submitted. lawsuits (a year earlier there were almost 8.5 thousand). More because 17.6k lawsuits against mBank were filed at the end of last year (an increase of almost 4.6k compared to the end of 2021). A similar number of claims (17.3 thousand) were filed by customers with loans in Swiss francs at the end of 2022 against Millennium Bank (there were almost 12 thousand a year earlier).
Source: Wprost
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