ING Bank Śląski introduces mortgages based on POLSTR index

ING Bank Śląski has announced that starting September 28, it will offer mortgage loans based on the new POLSTR 1M Compound Rate reference index. This move aligns with the roadmap established by the National Working Group for reference rate reform, which aims to replace WIBOR with POLSTR, a Risk Free Rate type index.

Customers can choose between variable interest rates and periodically fixed rates. Variable rate loans will consist of the POLSTR 1M Compound Rate plus the bank's margin, with repayment schedules updated monthly to reflect index changes. For fixed-rate options, the rate remains stable for the first five years, after which clients can opt for another five-year fixed period or switch to a variable rate based on POLSTR. The index is administered by GPW Benchmark S.A. in Warsaw.