Romanians pay loan installments with annual effective interest rates almost double compared to many European countries. According to Eurostat data, the average annual effective interest rate on mortgage loans in Romania is 6.5%, well above the euro area average of 3.8%. Significant differences are also present in consumer loans. In Romania, the interest rate reaches 10.2%, compared to the European average ranging between 5% and 6.5%. While countries like Germany and France have more favorable interest rates, around 5.5% and 6%, Hungary and Poland have similar interest rates to Romania, at 9.8% and 9.5% respectively. "Accurate information and cost optimization are essential when Romanians make credit plans. Although interest rates are higher, there are solutions to reduce these costs through careful comparisons and brokerage services. Refinancing or direct negotiations with the bank can make a considerable difference in the long term," says Valentin Anghel, CEO of AVBS Credit Broker.