In Polish: Oprocentowanie zmienne
This is the word you will see in bank documents.
Definition
A variable interest rate is a loan rate equal to the benchmark rate plus the bank's fixed margin. The benchmark is WIBOR or, in new agreements, POLSTR. The bank updates the rate on the dates set in the agreement, usually every 1, 3 or 6 months.
What it means for you
With a variable rate you gain when rates fall and lose when they rise. A 1 percentage point rise in the benchmark on a PLN 400,000 loan over 30 years increases the instalment by about PLN 260. The bank calculates your creditworthiness at the rate plus a buffer of at least 2.5 percentage points, so with a variable rate you usually get a lower amount than with a fixed one.
Full entry in Polish, with a worked example and sources Work out your instalment
Frequently asked questions
How often does the instalment change with a variable rate?
As set out in the agreement, usually every 3 months with WIBOR 3M and every 6 months with WIBOR 6M. With POLSTR the update period may be shorter.
Can I switch from a variable to a fixed rate?
Yes, most banks do it by an annex on the terms of their current offer. You can also move the loan to another bank.
Is a variable rate cheaper now?
In October 2026 usually slightly, at the start. Whether it pays off depends on how rates change in the coming years, which nobody knows.
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”