NBP Interest Rates and WIBOR
The NBP reference rate is 3.75% and WIBOR 3M is 3.86% (June 2026). The MPC has held rates unchanged since the March 2026 cut. These indicators directly affect the interest rates on mortgages and cash loans in Poland.
Current rates
WIBOR 3M
Source: GPW Benchmark
WIBOR 6M
Source: GPW Benchmark
Stopa referencyjna NBP
Source: NBP
Stopa lombardowa NBP
Source: NBP
How does WIBOR affect your loan?
If you have a variable-rate mortgage, your interest rate = WIBOR + bank margin. The margin is fixed for the entire loan period, but WIBOR changes every 3 or 6 months (depending on your agreement).
Example of WIBOR impact on instalment
Loan PLN 400,000, 25 years, margin 2%:
WIBOR 3%
PLN 2,370
WIBOR 4%
PLN 2,630
WIBOR 6%
PLN 3,170
Często zadawane pytania
What is WIBOR?
WIBOR (Warsaw Interbank Offered Rate) is the interest rate at which banks in Poland lend money to each other. It is set daily by GPW Benchmark based on bank quotes. WIBOR 3M and 6M are most commonly used for mortgage loans.
How does WIBOR affect a loan instalment?
The interest rate on a variable-rate mortgage = WIBOR + bank margin. When WIBOR rises, the instalment rises too. For example, on a PLN 300,000 loan over 30 years, a 1 percentage point increase in WIBOR raises the instalment by about PLN 180.
When will the MPC cut interest rates?
After the single March 2026 cut to 3.75%, the MPC held rates unchanged in April, May and June. MPC member Ludwik Kotecki said in June 2026 that a rate change is unlikely at least until the end of 2026, and possibly until March 2027. The next meeting is on 7–8 July 2026; further moves depend on inflation and the economic situation.
What is the difference between the reference rate and the lombard rate?
The NBP reference rate is the main interest rate, determining the cost of money in the economy. The lombard rate is higher — it is the rate on loans granted by the NBP to banks against the collateral of securities. The difference is usually 0.5 percentage points.
