Interest and premium rates
Eksfin offers internationally competitive interest rates and premium. Here you will find information about our interest rate alternatives and our premium calculator for obligors in low- and middle-income countries.
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Under maintenance
Interest Rates
Eksfin offers both fixed and floating rates. The fixed rate is called CIRR (Commercial Interest Reference Rate). CIRR is internationally regulated and offered for long term buyer credits in relation to export contracts and contracts for ships sailing in international waters and on the open sea. Floating interest rates are set commercially, and are available under all our loan products. The interest rate margin is committed in the loan agreement, but the final choice of floating or fixed rate can be postponed until the last disbursement.
Fixed rate
CIRR
Fixed rates regulated under the OECD export credit arrangement is called CIRR. CIRR exist for several currencies, they are updated monthly and can be found on the OECD websites. Two different CIRRs exist – one standard CIRR and one for ship financing.
Floating interest rate
Market based interest rate
Floating interest rates are offered on commercial terms. A fixed margin is agreed and charged on top of a floating reference rate (e.g. SOFR, EURIBOR or NIBOR). The agreed margin must be marked-based to comply with the EU state aid regulation.
The total cost of borrowing
The total cost of borrowing is made up of the interest rate, the premium/risk margin and the fees charged. Below you will find further information on the fixed rates. The rates do not include Eksfin’s risk margin/ the risk premium to the guarantors. Charges for risks are based on an assessment of the political and commercial risk related to the financed project/company.
After receipt of an application, Eksfin will contact the applicant for further information. Read more about the application process.
CIRR
Standard fixed interest rate
The standard fixed interest rates will be set at disbursement. For loans with several disbursements, a fixed rate will be set for each disbursement. At the last disbursement, the rates will be transformed into one weighted fixed rate that will apply to the whole loan until the loan has been fully repaid.
Standard fixed rates valid from 15.01.2025–14.02.2025 (% p.a.)
| Weighted average life of the loan | 3 yrs | 5 yrs | 8 yrs | 10 yrs |
| NOK | 4,46 | 4,57 | 4,58 | 4,60 |
| USD | 5,22 | 5,25 | 5,35 | 5,39 |
| EUR | 2,92 | 3,00 | 3,18 | 3,28 |
The weighted average life of a standard loan (i.e. repaid with equal instalment of principal), is approximately the disbursement period + 0,5*repayment period. The exact formula includes more elements (see OECD website), and as such the rates are indications only.
CIRR
Fixed interest rates for ships
Ships built in Norway
When a buyer credit relates to a ship built in Norway and operated internationally or on the open sea, the ship owner may choose between the fixed interest rate for ships and the standard fixed interest rate (see above). The fixed rate for ships is determined at entering into the export contract, whereas the standard fixed rate is determined at the date of disbursement. The choice will affect the availability of other terms, and must be taken upon entry into contract with the shipyard. The fixed interest rate for ships will apply in the absence of a choice by that time.
Ships built at yards outside of Norway
When a buyer credit relates to a ship built outside of Norway, the standard fixed interest rate is not an option. The fixed rate will be a weighted average of the fixed interest rates for ship that apply at the time of entry into each export contract relating to Norwegian sub-supplies.
Fixed rates for ships valid from 15.01.2025–14.02.2025 (% p.a.)
| Repayment period | < 5 år | 5,5 – 8,5 år | 9 – 12 år |
| NOK | 4,57 | 4,57 | 4,57 |
| USD | 5,22 | 5,25 | 5,32 |
| EUR | 2,92 | 3,00 | 3,12 |
| GBP | 5,07 | 5,13 | 5,26 |
The repayment period is the period between delivery of the ship until the loan has been fully repaid. For this purpose, earlier disbursements are not considered part of the repayment period.
Premium
Risk Calculator
Calculate a cost estimate for buyer credit and supplier credit guarantees where the obligor is in a low or middle-income country. Interest rates, if applicable, and fees are charged in addition.
The entire premium is payable when a guarantee is issued, but annual premiums (margin on the interest rate) are possible when bank participation exceeds 20 per cent.
The premium is determined by the risk horizon (disbursement and repayment period) and also depends on factors such as:
- The buyer’s creditworthiness: Eksfin assesses customer creditworthiness, i.e. the probability of payment by the customer.
- Political conditions in the buyer’s country: Eksfin assesses the risk of political unrest arising in a foreign buyer’s country.
Our premium calculator is currently under maintenance. Meanwhile please contact one of Eksfin’s client executives for an indication of costs.
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