Why has the interest rate/monthly payment on my leasing/rental agreement suddenly changed/increased?

Your monthly payment amount depends on several factors, of which just one is the interest rate's variable part, or EURIBOR. The payment amount also depends on the number of days in the specific period, as well as your loan balance. Since 2015, the EURIBOR rate has been negative, but bearing in mind the growing rate of inflation, the European Central Bank (ECB) Council made the decision to raise base rates. The EURIBOR rate has now started to increase, meaning that monthly payments are also increasing. There can be changes to your payment amount every 3, 6 or 12 months, depending on what variable rate is specified in your Agreement.

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