Lending rates of banks / Instalment credits with maturities between 36 and 60 months, EUR 5,000 and more but not more than EUR 15,000, effective annual interest rate / Average interest rate / SU0058
Most frequently occuring interest rate for new business within the reporting period (the two middle weeks of a given month). Since January 1991 the rates of banks in the new Länder have been included in the interest rate survey. The average rates are calculated as unweighted arithmetic means from the interest rates reported to be within the spread. The spread is ascertained by eliminating the reports in the top 5% and the bottom 5% of the interest rate range. Calculated on the basis of reported monthly rates (of original amount of credit taken up) and reported annual rates on the respective amount of debt and on the basis of the respective processing fee, taking due account of reported maturities. Up to October 1996, credits of DM 5,000 and more but less than DM 15,000 and maturities of more than 24 months but not more than 48 months; from November 1996 up to December 2001, DM 10,000 and more but not more than DM 30,000. From the reporting month September 2000, effective interest rates are calculated according to the ISMA method (International Securities Market Association). The use of the ISMA method (non-linear remuneration of less than one year) in this context tends to result in slightly lower effective annual interest rates.
