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 the widely criticized WIBOR. What exactly is WIRON? who sets? How will it affect loan installments? Will it become more convenient and more transparent from the point of view of Polish borrowers than WIBOR?


Let us remind you that WIBOR (Warsaw Interbank Offer Rate) is essentially the interest rate on the interbank market in Poland. When banks lend money to each other, the ratio is used to calculate the final repayment amount that consists of the loan and its interest.

LIBOR is not a static indicator. We know its rise every business day at 11.00 based on the data provided by the banks. However, since banks operating recently in Poland are usually characterized by excessive liquidity and do not have to resort to loans, there have been voices of criticism that WIBOR has become a dummy indicator. In a certain simplification built on the basis of a digression: Bank X contacts Bank Y, and asks “If we want to borrow money from you, what are your terms and interest rate?”.

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