Spuerkeess Variable Interest Rates to Drop by 0.50% from July

On Friday 21 June 2024, Spuerkeess (Banque et Caisse d'Épargne de l'État) announced its plans to drop variable interest rates by 0.50%.

With effect from 1 July 2024, Spuerkeess will apply a reduction of 0.50% on products with variable interest rates, particularly on mortgage loans.

According to the press statement, this 0.50% adjustment is based on forecasts of financial market developments for the coming months and takes into account the bank's diversified sources of refinancing.

This reduction in interest rates will apply to current variable rate mortgage loans as well as new financing requests. It is expected to "relieve the budgetary burden of many of [the bank's] customers and aims to offer more favourable financing conditions to future owners from now on".

Rates on savings products will follow this adjustment.