What is an EIBOR rate and where do I check it?

Emirates Interbank Offered Rate aka EIBOR rate is the benchmark interest rate for lending between banks in the UAE, influencing various financial products like loans and mortgages. You can check the current EIBOR rate daily on the UAE Central Bank's website.

The EIBOR rate is crucial for borrowers as it directly impacts the interest they pay. For instance, knowing the 3 months EIBOR rate today can help you make informed financial decisions regarding loans.