The director of the Croatian Banking Association (HUB) Zdenko Adrovic said on Wednesday that as of September 1, interest rates on current account tacit overdrafts would start to decrease.

Every client entitled to overdrafts can expect new offers from their banks until 30 June 2023, according to Adrovic.

On July 22, Finance Minister Marko Primorac, Croatian Central Bank (HNB) Governor Boris Vujcic, and representatives of 13 commercial banks signed a memorandum of understanding on current account overdrafts.

Addressing the press after today’s meeting of the national council for the changeover to the euro, Adrovic noted that the limit for effective interest rates on tacit overdrafts will apply as of September 1.

According to Primorac, internet will be capped at 7.31 percent.

In 2021, for instance, the average interest rate on tacit overdrafts was 10.97 percent.

The other thing is that banks will send new offers with new terms and conditions to their clients related to overdrafts, he explained.