TALLINN — Estonia received the last ‘yes’ for euro adoption  Tuesday and the price increases expected from it may not bring singificant changes in loan and deposit interest rates, Estonian banks say.

All the biggest banks operating in Estonia — SEB, Sampo, Nordea and Swedbank — agree that euro adoption will not affect the interest rates much, as they are already euro-based. Also home loans have been tied to Euribor for quite a while.

Tõnu Talinurm, press spokesman of Sampo told BNS that there has been a tendency since the beginning of this year that krooni and euro deposit interest rates are bit-by-bit moving closer to each-other. Tuesday’s decision did not change anything, he said.

According to Jane-Liina Liiv, press spokeswoman of Nordea, short term krooni deposit interest rates may reduce in time and even out with the euro deposits.

“The euro decision won’t affect the loan interests directly, as mortgages are given in euros and based on Euribor for a long time,” Mart Siilivask, press spokesman of Swedbank told BNS.

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