{"id":472,"date":"2021-01-03T08:41:09","date_gmt":"2021-01-03T04:41:09","guid":{"rendered":"https:\/\/moneymall.ae\/credit-blog\/?p=472"},"modified":"2022-08-13T20:29:51","modified_gmt":"2022-08-13T16:29:51","slug":"3-month-eibor-todays-rates","status":"publish","type":"post","link":"https:\/\/moneymall.ae\/credit-blog\/3-month-eibor-todays-rates\/","title":{"rendered":"EIBOR : What is the current 3 Month EIBOR rate ?"},"content":{"rendered":"

EIBOR Meaning<\/h1>\n

Emirates Interbank Offered Rate (henceforth referred to as \u201cEIBOR\u201d) is the daily reference rate at which the Panel Banks are able and willing to access United Arab Emirates Dirham funding, in reasonable market size for a given tenor, from the UAE money market.<\/p>\n

How the EIBOR Rate is calculated?<\/h2>\n

The EIBOR rate is calculated as an average where a panel of 9 banks submit their daily rates, with the two highest and lowest rates removed, and taking an average mean of the remaining rates<\/p>\n

Who is Calculating Agent the EIBOR rates in UAE?<\/h2>\n

From the 15th of April, 2018, the Central Bank of the UAE is not be acting as the calculating agent of EIBOR and Official Calculating Agent role of EIBOR has been assigned to Thomson Reuters Ltd<\/a>.<\/p>\n

\"EIBOR<\/a>
EIBOR – 3 month EIBOR<\/figcaption><\/figure>\n

EIBOR Rate Tenors<\/h2>\n
    \n
  • Overnight EIBOR rate<\/li>\n
  • 1 Week EIBOR rate<\/li>\n
  • 1 Month EIBOR rate<\/span><\/li>\n
  • 3 Months EIBOR rate<\/span><\/li>\n
  • 6 Months EIBOR rate<\/li>\n
  • 12 Months EIBOR rate<\/li>\n<\/ul>\n

    HOW DOES THE EIBOR AFFECT YOUR\u00a0 MORTGAGES, LOANS AND SAVINGS?<\/h2>\n

    Leading mortgage Lenders\/banks in UAE offers EIBOR Linked rate options, many times it’s compulsory to have an EIBOR linked mortgage rate after completing the fixed-rate period of the first few years. it has both merits and demerits of the same.<\/p>\n

    EIBOR is the rate which banks pay to raise money from each other, it directly affects how much they charge on loans and mortgages. An increase in Eibor can add hundreds of pounds to households\u2019 annual mortgage repayments or a loan to a small business similarly a Decreased EIBOR can save you money.<\/p>\n

    It also directly influences savings rates. If banks can borrow more cheaply from each other then they don’t need to offer high returns to saving account and fixed deposit holders.<\/p>\n

    \n
    \n\t\t\t

    What is EIBOR ?<\/h2>
    \n\t\t\t\t

    \n\t\t\t\t\t EIBOR is an abbreviation of The ‘ Emirates Interbank Offered Rate’ EIBOR, is a daily reference rate, published by the Central Bank of the UAE, based on the averaged interest rates at which UAE banks offer to lend funds to other banks in the United Arab Emirates dirham wholesale money market <\/p>\n <\/div>\n <\/div>\n <\/section>\n\n