In Polish: Stopa referencyjna NBP
This is the word you will see in bank documents.
Definition
The NBP reference rate is the main interest rate of the National Bank of Poland, i.e. the yield on 7-day NBP money market bills. It is set by the Monetary Policy Council (RPP) and has been 3.75% since 5 March 2026. Interbank rates form around it, and WIBOR and POLSTR are derived from them.
What it means for you
The reference rate is not written into your agreement directly, but it changes the instalment of a variable-rate loan through the benchmark. On a PLN 500,000 loan over 30 years, every 0.25 percentage point change means about PLN 80 on the instalment. Statutory and maximum interest and creditworthiness calculated with a buffer also depend on the reference rate.
Full entry in Polish, with a worked example and sources Work out your instalment
Frequently asked questions
What is the NBP reference rate?
3.75% in October 2026, in force since 5 March 2026. The Monetary Policy Council left it unchanged at its meeting on 6–7 October 2026.
When will the Monetary Policy Council decide on rates?
The next decision-making meetings are on 3–4 November and 1–2 December 2026. A new rate, if any, applies from the day after the decision.
Is the reference rate the interest rate on my loan?
No. Your variable rate is a benchmark, e.g. WIBOR or POLSTR, plus the bank's margin. The benchmark depends on the NBP rate but has its own value.
Related terms
Definitions are simplified and reflect Polish law and bank practice as of October 2026. Where every word matters, the Act and your loan agreement decide. Figures in examples are indicative and are not a bank offer. The Polish version of each entry has worked examples and sources.
Other terms in “Interest rates and benchmarks”