Frequently Asked Questions

All benchmarks come from the European Central Bank's MIR (Monetary Interest Rates) statistics. Every bank in the euro area is required by EU regulation to report the rates on new loans every month. The ECB aggregates this into official country-level averages.

We check for new data every day. The ECB publishes MIR statistics monthly, typically with a ~6-week lag (e.g. January data appears around mid-March). Our pipeline picks it up within 24 hours of release, so you always see the latest available benchmark.

No. BorrowProof is a statistical comparison tool, not a financial advisor. We show you how your rate compares to the market average, but we can't account for your personal credit risk, collateral, or banking relationship. Always consult a qualified advisor before making financial decisions.

Several legitimate reasons: your credit history or risk profile, whether you offered collateral, your relationship with the bank, the competitive landscape in your area, or the specific terms of your loan. A higher rate doesn't necessarily mean something is wrong — but it's worth understanding why.

Three things: (1) Ask your bank to explain the premium and whether they can match the market rate. (2) Get quotes from 2-3 other banks to compare. (3) If you have property or assets, offering them as collateral often significantly reduces the rate.

BorrowProof covers all 19 Euro Area countries: Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Portugal, Slovakia, Slovenia, and Spain.

We use a proprietary statistical method that measures how far your rate is from the benchmark, relative to how much rates normally vary between banks. This means the verdict adapts to market conditions automatically.

BorrowProof uses official European Central Bank data to benchmark your loan rate against market averages. Full access costs €25 for 30 days.

No. We don't collect any personal data. We don't ask for your name, email, or any identifying information. The loan details you enter are processed in your browser and our servers — they're never stored, shared, or sold.

BorrowProof was built by a team passionate about financial transparency in Europe. We're independent — we don't sell loans, partner with banks, or earn commissions. Visit our About page to learn more.