Mortgages in Poland: October 2026 update

If you are buying a flat or house in Poland — or moving a mortgage from another bank — autumn 2026 is a bit easier than a couple of years ago. Banks’ public “all-in” yearly cost figures (RRSO — explained below) usually sit around 6–8%, many promos skip the upfront fee, and putting down 10% of the price is often enough.

This is our October 2026 edition — we plan to refresh it about every three months. Below: what big banks were advertising in late September / early October 2026, what the numbers mean in plain language, why oil and the central bank matter for your monthly payment, and what changes if you are a foreigner. This is not a bank offer and not credit advice. Always double-check on the bank’s site or with a licensed broker (doradca kredytowy — they compare banks for free; the bank pays them).

How to read Polish mortgage offers

Banks love short words that look cheaper than they are. The one number worth comparing first is RRSO (Rzeczywista Roczna Stopa Oprocentowania). Think of it as the all-in yearly cost of the loan in the bank’s example — interest plus typical extras like insurance, valuation and small taxes. Two loans with a similar “interest rate” on the banner can have different RRSO because of those extras.

Variable vs fixed, simply.
Variable — your monthly payment can go up or down when POLSTR moves.
Fixed for 5 years — payment stays the same for five years (usually a bit more expensive on day one), then the bank resets you to variable unless you agree a new fixed period. Millennium has not offered “variable for the whole life of the loan” since March 2023 — only the 5-year-then-variable path.

Instalment calculator

Equal (annuity) payments from the selected bank’s nominal rate.

Estimate the monthly instalment with published bank rates. Open full calculator

Bank

INGPKOMillenniumCitiErstemBankPekaoAliorBNP ParibasVeloBank

Promo easy-start RRSO from ~6.08% variable; fixed 5y ~6.86% RRSO.

Property value (PLN)

Down payment (20%+)

Term (years)

Interest type

Loan amount

480 000 zł

Monthly instalment

3199 zł

Nominal rate used

6.36% · RRSO ~6.08%

Est. interest over term

479 739 zł

Estimates only. Not a bank offer or credit advice. Lending depends on individual credit assessment. Rates and RRSO come from public representative examples and can change.

Bank logos are trademarks of their owners, used here only for identification. Sources: Wikimedia Commons.

Borrowing capacity (zdolność)

Simplified estimate — not the bank’s underwriting model.

Estimate borrowing capacity with published bank rates. Open full calculator

Bank

INGPKOMillenniumCitiErstemBankPekaoAliorBNP ParibasVeloBank

Promo easy-start RRSO from ~6.08% variable; fixed 5y ~6.86% RRSO.

Net income / month (PLN)

Living costs / month (PLN)

Other debts / month (PLN)

Property value (PLN)

Term (years)

Interest type

Est. max loan

402 104 zł

Instalment at max loan

2680 zł

Max payment (DSTI)

3200 zł

Stressed rate (+2 p.p.)

8.36%

Estimates only. Not a bank offer or credit advice. Lending depends on individual credit assessment. Rates and RRSO come from public representative examples and can change.

Bank logos are trademarks of their owners, used here only for identification. Sources: Wikimedia Commons.

Oil prices, the central bank, and your monthly payment

You do not need to follow every central-bank headline — but two names matter:

• NBP — Poland’s central bank (like the Fed / ECB). Its main policy rate is a signal for the whole market.
• RPP — the Monetary Policy Council inside the NBP; they vote on that rate.

Your mortgage does not jump 1:1 when the NBP rate moves, but that path still shapes POLSTR (the base of variable loans) and how cheap banks can make their margins. As of early October 2026, the NBP main rate is 3.75% (last cut in March 2026).

Next meetings: 6–7 October 2026 (decision usually on day two); next with a new inflation forecast 3–4 November 2026 (schedule coverage).

Why oil shows up in a mortgage article. Dear oil and petrol push inflation (prices in the shops) up. When inflation stays high, the NBP is slower to cut rates — so variable mortgages stay more expensive for longer. NBP President Adam Glapiński has said the bank cannot control energy prices, but will not let inflation settle above its target, and that hopes of more cuts in 2026 had faded after energy shocks (Business Insider / PAP; Portal Samorządowy). In September he also signalled rates could stay put longer — maybe into mid-2027 — if energy stays expensive.

The RPP’s own guidelines for 2027 expect a bit higher inflation in the second half of 2026 as fuel tax shields fade, and lower average inflation in 2027 if commodities calm down — with Middle East oil as a risk (coverage). The government also runs “Ceny Paliwa Niżej” to keep pump prices in check (gov.pl).

Two simple scenarios for you

This is not a forecast. The RPP decides meeting by meeting.

Snapshot: what banks published (autumn 2026)

Numbers below come from banks’ sample calculations and marketing pages — the legal “representative example”, not a quote for you. Amounts, years and down payments differ, so RRSO is not a perfect apple-to-apple compare. Use the table as a map, then the calculators above, then a real application.

How to read “0% commission”. Almost every autumn promo skips the upfront granting fee. The sample calculation still usually includes life insurance, home insurance, valuation, a tiny PCC tax, sometimes a bank account or card — and assumes you keep those products for years. That is legal and normal in RRSO math. It is still money out of your pocket if you only stared at the banner.

ING Bank Śląski

Autumn campaign “Jesień na swoim” (edition 1). ING publishes two tracks: Łatwy start (zero arrangement fee, slightly higher margin) and Lekka rata (lower margin, commission in the example).

• Łatwy start (variable): RRSO 6.08% — rate ~5.55% (POLSTR 1M ~3.56% + margin 1.99%), 0 zł commission. Example calc. 1 Oct 2026: 230,000 zł over 16y 11m, instalment 1,755 zł. Collateral in the example is min. 345,000 zł (67% LTV).
• Lekka rata (variable): RRSO 6.19%, margin 1.94%, but prowizja 3,750 zł on a 250,000 zł / 20y example.
• Fixed 5 years / Łatwy start: RRSO 6.86%, fixed 6.36%; then POLSTR + 1.99% unless you renegotiate. 0 zł commission.
• Fixed / Lekka rata (construction-mortgage example): RRSO 6.99%, prowizja 4,425 zł.
• Refinance from another bank is advertised around RRSO 5.57%.

Costs that sit behind 0 zł prowizja (Łatwy start variable example): property insurance via the bank ~4,504 zł for the whole term; Twoja Ochrona Życia (Nationale-Nederlanden) ~2,746 zł for 3 years; valuation 560 zł; PCC 19 zł. Plan ING Go / Moje ING are 0 zł in the illustration.

PKO Bank Polski / PKO Bank Hipoteczny

Product: Własny Kąt. One application, two possible lenders: PKO Bank Hipoteczny usually decides first; PKO BP may take the file. Arrangement fee 0% in the current promo; early repayment 0 zł on contracts from 22 Jul 2017.

• From 10% own contribution; up to 25% any purpose; term up to 35 years; many files 100% online (PLN income; secondary purchase / primary flat / refinance).
• Promo: periodically fixed rate 1 p.p. lower for 5 years — only for information forms 3 Oct–6 Nov 2026 and digital proposals 18 Sep–2 Oct 2026.
• PKO BP example (18 Sep 2026): RRSO 7.86%, 400,000 zł / 25y, LTV ~62%. Fixed 6.61% for 5 years (incl. a 0.8 p.p. cut in the example), then variable 7.41%. First instalment ~2,730 zł, then ~2,904 zł.
• PKO BH example: RRSO 6.38%, variable 5.65% (POLSTR 1M 3.54% + margin 2.11%), 406,000 zł / 25y, LTV ~70%, instalment ~2,531 zł.

Costs behind 0% prowizja: life insurance for the entire term ~27,096 zł (BP) / ~26,372 zł (BH); property insurance ~8,000–8,120 zł; valuation 400 zł; PCC 19 zł. Konto za Zero is 0 zł if you declare inflows of min. 3,000 zł/month. Individual margin can fall further with other PKO products. Employer certificate can be replaced by a self-declaration of employment.

Bank Millennium

Headline RRSO 6.89% (calc. 28 Sep 2026): 644,570 zł over 27y 1m, 325 instalments of 4,041 zł. First 60 months fixed at 6.06%, then variable 5.65% (margin 2.10% + POLSTR 1M 3.55%). 0 PLN commission and early repayment. Up to 30% any purpose. Payment holiday 1× every 12 months. Pure lifelong-variable product suspended since 1 March 2023.

The 2.10% margin in the example assumes, for 55 months after drawdown: Millennium 360° account, monthly salary/net income on that account, debit-card spend min. 500 zł/month; and for 36 months: “Życie pod ochroną” life insurance via the bank (TU Europa). You can take the loan without those products — pricing then worsens (calculator “standard” path showed 7.50% APR / 7.25% fixed in the marketing widget). Energy-efficient property has a separate promo (6.70% APR).

Costs behind 0 zł prowizja: interest ~668,843 zł; property insurance via bank ~25,675 zł; life insurance ~47,812 zł; PCC 19 zł; court mortgage fee 200 zł. Account 0 zł if you meet card/BLIK activity. The bank says you need both home and life insurance; you may bring a policy from an insurer on the Polish supervisor’s list (KNF) instead of the bank’s pack.

mBank

From “Elastyczna hipoteka” / “Stała Pewność” (calc. 23 Apr 2026 — the page still quoted WIBOR 3M; confirm current POLSTR terms on mBank’s site). 0% granting fee and early repayment; 10% minimum down; −0.10 p.p. for existing mBank clients; −0.20 p.p. for energy-efficient property. Apply in the app / transactional banking.

• Active client, variable: RRSO 5.98%, nominal ~5.44% (margin 1.60% + WIBOR 3M in the example).
• Standard promo variable: RRSO 6.09%, nominal ~5.54%.
• Active client, fixed 5 years: RRSO 6.50%, fixed 6.16%; then margin 1.60%.
• Fixed 5 years (promo): RRSO 6.86%, fixed 6.26%.

Costs behind 0% prowizja (active-client examples on a ~640,000 zł property): life insurance 0.05% of outstanding balance for the first 5 years (14,500–14,600 zł); property cover via UNIQA (4,218 zł illustrative); valuation 400 zł. Promo T&Cs also steer you toward life/health/job-loss insurance for at least 5 years. Some non-promo paths show no life-insurance line in the example.

Bank Pekao

POLSTR-based examples calculated 1 Oct 2026 — one of the few fully current POLSTR 1M prints:

• Variable: RRSO 5.99%, rate 5.55078% (POLSTR 1M 3.56078% + margin 1.99%) if at least 3,000 zł/month salary lands on a Pekao current account (ROR = ordinary bank account).
• Fixed 5 years: RRSO 7.19%, fixed 6.68%, then the same variable formula.

Costs behind the poster: life insurance of the borrower ~6,804–6,939 zł for the first 4 years; property insurance (fire and other events) for the whole term (amount not fully itemised on the public page); the bank wants those policies assigned to it. The 1.99% margin is the “salary on our account” price — without that, expect a worse quote.

Alior Bank

“Własne M tam gdzie Ty” / Megahipoteka (calc. 1 Oct 2026). 0% commission; up to 90% LTV.

• Special-offer RRSO 6.52%: fixed 6.58% for 60 months, then variable ~5.54% (margin 1.69% + WIBOR 3M in the example).
• Another path: RRSO 7.16%, fixed 6.95% then variable 5.90%.
• −0.5 p.p. margin if you keep: account with salary min. 3,000 zł, card/BLIK activity, life insurance and Alior Mobile.

Costs behind 0 zł prowizja: life insurance via PZU Życie, prepaid for the first 5 years (about 12,890 zł or 17,131 zł, depending on the example), then the policy renews on its own and the premium is added to the monthly payment. Property insurance via PZU is extra, yearly (about 12,144–13,079 zł over the illustrated term). Insurance is legally voluntary — but it is how the special price is built. Mortgage court fee 200 zł; property inspection.

Worth a broker conversation if you earn in EUR: market chatter in 2026 still points at Alior as one of the few retail names that may still consider FX mortgages (always confirm; this is not a published guarantee).

BNP Paribas Bank Polska

Representative example calc. 10 Sep 2026: RRSO 6.93%, fixed 5.95% for 5 years, then variable 5.48% (WIBOR 3M 3.83% + margin 1.65%). Up to 15% any purpose; fixed option for 5 or 10 years; energy-efficient property can get a lower rate.

0 zł granting fee if you take the bank-channel package: Cardif “Plan na Spokój – Pakiet Optymalny” (death, disability, serious illness, job loss, hospital) and property “Plan na własne M” for the whole term, plus the Konto + Karta Otwarta na Świat.

Costs behind 0 zł prowizja: interest ~354,671 zł; account+card 3,156 zł; life/job pack ~31,175 zł; plus Cardif property cover (monthly, whole term). That insurance line is larger than a typical 1–2% arrangement fee.

VeloBank

VeloDom example calc. 4 Dec 2025: RRSO 6.57%, fixed 5.85% for 5 years, then variable 6.15% (example used WIBOR 1M). Up to 90% LTV; term up to 35 years (bank often prefers ≤ 25); 0% early repayment / overpayment; simplified path for selected professions (doctors, lawyers, IT, bank staff, etc.).

0% granting fee with “konto z pakietem” and VeloBezpieczny (Cardif: death, disability, serious illness, job loss, hospital). Account and e-banking 0 zł in the example.

Costs behind 0 zł prowizja: VeloBezpieczny ~31,151 zł over the whole term — again, larger than a classic commission. Property insurance is not even in the RRSO; the bank says the cost is unknown and you may bring an external policy. Inspections per tranche follow the fee table.

Erste Bank Polska

Former Santander brand in Poland. Representative RRSO 7.69% (26 Sep 2026): 511,391 zł / 298 months, first 60 instalments 3,614 zł. Fixed 6.97% for 5 years, then variable 5.95% (POLSTR 1M 3.55% + margin 2.40%). Up to 90% LTV; min. 10% down; up to 30% any purpose; min. loan 100,000 zł; max 10 mln zł. Equal or decreasing instalments; term up to 30 years.

0% granting fee only with life insurance “Spokojna Hipoteka” kept ≥ 5 years. Without it, prowizja up to 3%. Extra cuts: current account −0.2 p.p. (salary ≥ 2,000 zł for 5 years), credit card −0.1 p.p. (≥ 500 zł/month for 5 years), Locum Comfort property insurance −0.1 p.p. (5 years). Erste Platinum has a separate track.

Costs inside 7.69% RRSO: interest ~565,466 zł; Locum Comfort ~23,450 zł (+ extra Locum line ~4,690 zł in the breakdown); Spokojna Hipoteka ~10,292 zł; valuation 560 zł; PCC 19 zł; account 360 zł; credit card 450 zł.

Citi Handlowy

Public pages show an effective interest rate around 6.84% (Citi’s label: EIR — similar idea to a yearly cost, but not the same full RRSO pack other banks publish) and a fees table, without a clear sample breakdown like the others. Borrower chatter in 2026 often lists Citi among banks that are hard without a Polish employment contract.

Treat Citi as something to check with a broker — not as a clean poster-rate compare.

What usually decides approval (not just the rate)

The bank is not only looking at the rate in the ad. This is what actually decides yes or no.

1. How much they will lend you. That is not the price of the flat — it is how much they think you can repay each month: salary minus living costs, other debts, people you support. Calculate yours — a rough figure, not a bank decision.
2. How you earn. A regular employment contract (umowa o pracę), especially open-ended, is the easy case. If you run a JDG (self-employed), banks often want 1–2 years without a break: a company you opened three months ago is a weak file. Tax form matters too: 19% liniowy (they can see income and costs) is usually easier than ryczałt, where the bank sees less of the real profit. Example: two people take home 12,000 zł. One is on umowa o pracę — the bank counts almost all of it. The other has been on ryczałt for six months — they may get a much smaller loan, or be asked to wait.
3. What currency you are paid in. The loan should match your salary. Złoty — widest choice of banks. Euros — fewer options, Alior most often. Dollars or pounds — harder still.
4. How much you put down, and what you buy. Ads often say 10% down, but 20%+ is simply easier. A normal flat with a clean title is fine. A plot, an unfinished house, or an unusual building takes longer to value and the bank may cut the amount. Example: a 600,000 zł flat. At 10% down some banks add low-down-payment insurance or refuse; at 20% the same person often sails through.
5. Your BIK file. That is Poland’s credit history. If you have never had a card or instalment here, the file is empty — not a black mark, but not a plus either, and some banks get cautious. Late phone bills or Allegro pay-later also show up.

A licensed doradca kredytowy compares banks for free (the bank pays them). The same person might get 500,000 zł at one bank and 350,000 zł at another.

Mortgages for foreigners

You usually need a PESEL (Poland’s personal ID number — you get one when you register your stay) and banks often ask for a residence card. It is much easier if you work in Poland (or run a business here) and get paid in złoty. If you earn in euros, fewer banks will look — Alior is mentioned most often. As an EU citizen you do not need a Polish spouse to buy a normal home.

Checklist before you apply

1. Estimate how much you can borrow with 2–3 banks (calculators above) or one broker.
2. Decide if you want a fixed payment for 5 years or a variable one that can move — do not pick only the lowest banner RRSO.
3. Read which extra products (account, card, insurance — often called cross-sell) you must keep to keep the cheap margin.
4. Budget the boring costs: valuation, tiny PCC tax, notary, court fee, home insurance, often life insurance.
5. Check if you buy on the primary market (developer) or secondary (someone already owns it) — some online applications only allow certain purposes.
6. If you are moving a loan from another bank, check fees for early repayment there first.

Bottom line

As of early October 2026, the cheapest big-bank mortgages on public examples cost roughly around 6% a year in all-in cost (what banks call RRSO) — that is what Pekao, mBank for existing clients, ING, PKO Hipoteczny and Alior are showing. If you lock the rate for 5 years, the number is often closer to 7%. Many banks still advertise 0 zł to grant the loan and accept 10% down. Whether monthly payments get easier in 2027 depends on what Poland’s central bank does with inflation and energy prices — right now the tone is cautious, not “rates will fall soon.”

If you are a foreigner. There is no bank that always says yes. If you live in Poland, have a residence card / PESEL, and earn in złoty, guides and brokers most often say start with PKO, ING, Pekao and mBank. If you earn in euros, Alior is the name that keeps coming up. With an empty Polish credit file and a foreign work contract, do not start at picky banks like Citi.

Which offer I would pick on the numbers. After comparing not only the banner rate but also the insurance and “free” products banks hide behind “0% commission,” I would start with ING “Łatwy start”: all-in cost about 6.08%, a real 0 zł fee to grant the loan, and only three years of bank life insurance in the example — not a policy for the whole term. Pekao and mBank (if you are already their client) look a bit cheaper on paper, but Pekao wants your salary on their account, and mBank’s best numbers are for “their” customers on older examples. At Millennium, BNP, Velo and Erste, “0% commission” often means tens of thousands of złoty in required insurance — that is where the cheap ad becomes the expensive trap. Want a payment that does not jump for 5 years? Take a fixed rate where zero commission does not force a full insurance pack, and still check your case with a licensed broker.

Disclaimer. Figures are from public bank materials and representative examples (dates noted per bank). Informational only — not an offer under Polish law, not credit advice. Lending depends on individual credit assessment and collateral.