The new method of calculating interest for loans included in the Katseli law is being implemented starting this month, because, as announced by the General Secretariat for the Financial Sector and Private Debt Management, the recent regulation has immediate effect upon its publication in the Government Gazette.
The most important change is that the monthly tranche will now be charged only with the interest corresponding to the specific monthly installment, and not with interest calculated for the entire period of the settlement, so the most favorable interpretation for borrowers of the recent Supreme Court verdict is adopted.
