Rates Increase from October 2025: IRCC Exceeds 6% and Loans Become More Expensive

What is IRCC and Why It Matters for Your Loans IRCC (Consumer Credit Reference Index) is the indicator based on which variable interest rates for loans in lei contracted after 2019 are calculated. Practically, any change in this index is directly reflected in the value of the monthly rates paid to the bank. Record Increase: IRCC at 6.06% From October 1, 2025, IRCC will rise for the first time above the psychological threshold of 6%, reaching 6.06%. This value represents the highest level in the history of this index and marks a significant increase compared to previous quarters. What It Means for a Mortgage Loan For a mortgage loan of 600,000 lei over 30 years, the current monthly rate is 4,216 lei. From October, the rate rises to 4,414 lei, which means an increase of almost 200 lei each month. Not Only Current Debtors Are Affected The increase in IRCC affects not only those who already have loans but also those who want to borrow money in the future. The debt-to-income ratio is calculated based on the variable interest rate, even if the loan has a fixed interest rate in the first years. Why Are Rates Increasing Now? The increase in IRCC and bank rates is not accidental. Behind the numbers are: Budget deficit – in 2024 it rose to 9.3% of GDP, approaching the records of crisis years. Political instability, the election year, and government changes have led to a decline in investor confidence. Pressure on the exchange rate – the euro exceeded the psychological threshold of 5 lei, forcing the NBR to intervene in the market with billions of euros. NBR's monetary policy, the key interest rate reached 6.5%, and banks have started borrowing directly from the central bank for liquidity. All these have translated into a rapid increase in the cost of borrowing, which directly hits the pockets of Romanians. This means that many clients will be able to obtain smaller amounts than they would have liked because banks consider a higher cost of financing when analyzing files. Are There Solutions to the IRCC Increase? One option considered is loan refinancing, but challenges also arise here: the fixed interest rates offered by banks have started to increase, and the period for which they can be guaranteed is shorter than in the past. For this reason, each decision must be weighed carefully. Other options to cushion the shock include: Choosing a short-term fixed interest rate, even if offers become more limited. Partial early repayment, where possible. Constantly monitoring the IRCC index and the ROBOR index to identify better refinancing moments. Conclusion The increase of IRCC to over 6% marks a difficult time for debtors with loans in lei. Rates are visibly rising, and access to new loans becomes more restrictive. In such a context, careful financial planning and evaluating alternatives, whether refinancing or delaying taking out a loan – are essential to avoid long-term problems.