NBS keeps the key policy rate at 5.75%: what it means for loans and savings
Published
On 8 October 2026 the National Bank of Serbia kept its key policy rate at 5.75%, so instalments on variable-rate dinar loans should not change because of this decision. The next decision is due on 12 November 2026.
The decision
At its meeting on 8 October 2026, the Executive Board of the National Bank of Serbia kept the key policy rate at 5.75%. The deposit facility rate stayed at 4.5% and the lending facility rate at 7.0%.
Why
Year-on-year inflation was 2.2% in August, up from 1.9% in July. The NBS expects it to be around 4% from September, mainly due to a low base from last year. The main risk it cites is higher oil, gas and electricity prices due to the conflict in the Middle East.
What it means for your loan
Interest on variable-rate dinar loans usually follows BELIBOR, which moves in line with the NBS key policy rate. With the key rate unchanged, instalments on such loans should not change because of this decision.
Variable-rate euro loans are tied to EURIBOR, which NBS decisions do not affect. Instalments on fixed-rate loans stay the same until the loan is repaid.
What it means for savings
A high key rate also keeps interest on dinar savings at a similar level. You can compare current dinar term deposit rates of all banks on our Savings page.
Next decision
The next NBS Executive Board meeting on the key policy rate is scheduled for 12 November 2026.