â¿¿The EU has not said what interest rate it will charge. Spain says the rate will be variable and depend on conditions in the money market. Spanish Economy Minister Luis de Guindos has said it would be under 4 percent.â¿¿The average term of the loans will be 12.5 years, and the maximum 15. â¿¿A first tranche of â¿¬30 billion euros will be made available by July 31. But it will be held in reserve by the bailout fund and disbursed only in the event of emergency. The size of the other tranches will be determined depending on the needs of the Spanish banks.