referanserente

Referanserente, or reference interest rate, is a benchmark rate used by lenders to price and adjust interest on loans and other credit products. It acts as a starting point from which a bank adds a margin to determine the actual rate offered to a borrower. The concept is common in retail and corporate lending, where rates are not fixed but move in tandem with broader financial conditions.

In Norway and many other markets, referanserente can be based on publicly observed interbank rates such as NIBOR, EURIBOR, or STIBOR, or it can be a bank’s own internal reference rate published for product pricing. The key idea is that the borrower’s effective rate is equal to the referanserente plus a margin that reflects credit risk, costs, and the bank’s pricing strategy. Terms for adjustment and the frequency of changes (for example monthly or quarterly) are typically specified in the loan agreement.

Referanserente is distinct from central bank policy rates, such as Norges Bank’s styringsrente, which influence overall money market levels but are not themselves the price shown to individual borrowers. Nevertheless, movements in policy rates and broader market rates can affect the referanserente through changes in the underlying benchmark.

For borrowers, the practical effect is that the loan’s interest rate can rise or fall as the referanserente changes. It is important to understand the reference rate used, how margins are set, and how often rates can be adjusted. Transparency about the referanserente helps borrowers assess long-term costs and compare offers.