Frequently Asked Questions

All benchmarks come from the European Central Bank’s MIR (Monetary Financial Institutions Interest Rate) statistics — the official monthly dataset that banks across the eurozone report to.

We check for new data every day. The ECB publishes MIR statistics monthly, typically with a ~6-week lag from the underlying loan origination.

No. BorrowProof is a statistical comparison tool, not a financial advisor. We show you where your loan rate sits against an official benchmark — what you do with that information is your decision.

Several legitimate reasons: your credit history, available collateral, the strength of your existing relationship with the bank, the broader rate environment when you locked in, and specific terms (fixed vs floating, maturity).

First: take the benchmark to your banker and ask why your rate sits above it. Second: get a second offer from a competing bank. Third: if there’s a clear reason for the premium (risk, collateral), decide whether it’s worth paying.

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

We use a proprietary statistical method that compares your rate to the distribution of rates reported by banks for similar loans in your country.

Enter your country, loan type, amount, duration, and the rate your bank quoted. We compare it to the ECB benchmark for that exact profile. Free for property and personal loans; €25 unlocks all loan types and the simulator for 30 days.

No. We never sell your personal data. We only use it to run the service. Loan figures you enter are not stored or linked to your account.

BorrowProof was built by a team passionate about financial transparency. We’re a small Belgian enterprise, independent from any bank or lender.