Fixed interest rate (oprocentowanie stałe)

An interest rate that does not change for a period set in the agreement, so your instalment during that period is predictable. In Poland this is usually a periodically fixed rate — set for a few years, not for the whole loan.

When the fixed-rate period ends, the bank proposes new terms: another fixed period or a switch to a variable rate. You usually have time to compare this proposal with offers from other banks.