Change in credits.  WIRON will replace WIBOR.  What this means for current and future homebuyers to get a mortgage [1.11.2022]

WIRON, or overnight interest rate (formerly WIRD), is set to become one of the most important factors determining the interest rate on loans in Poland. It is an alternative to WIBOR which has been widely criticized. What exactly is WIRON? who sets? How will it affect the loan installments? Will it become more advantageous and more transparent from the point of view of Polish borrowers from WIBOR?


Let’s remember that WIBOR (Warsaw Interbank Offered Rate) is primarily the interest rate on the interbank market in Poland. When banks borrow money between themselves, the indicator is used to calculate the final repayment amount consisting of the loan and the interest rate.

WIBOR is not a static pointer. We learn about its length every working day at 11.00 on the basis of data provided by banks. However, since banks operating in Poland lately are usually characterized by excess liquidity and do not have to use loans, there has been criticism that WIBOR has become an almost pseudo-indicator. In a simplification, it was created on the basis of deliberations: Bank X contacts Bank Y, asking “If we want to borrow money from you, what are your terms and interest rate?”

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