Interest Rates on Bank Deposits and Loans: December 2022
02/02/2023 - Press Releases
- In December 2022, the weighted average interest rates on new deposits and loans increased to 0.10% and 5.06% respectively.
- The interest rate spread between new deposits and loans increased to 4.96 percentage points.
- In December 2022, the weighted average interest rates on outstanding amounts of deposits and loans increased to 0.09% and 5.02% respectively.
- The interest rate spread between outstanding amounts of deposits and loans increased to 4.93 percentage points.
1. Interest rates on euro-denominated new deposits and loans
New Deposits
The weighted average interest rate on new deposits increased by 4 basis points to 0.10%.
In particular, the average interest rate on overnight deposits placed by households remained unchanged at 0.03%, while the corresponding rate on deposits by non-financial corporations stood at 0.05% compared with 0.03% in the previous month. The average interest rate on deposits from households with an agreed maturity of up to 1 year increased by 13 basis points to 0.33%.
New Loans
The weighted average interest rate on new loans to households and non-financial corporations increased by 17 basis points to 5.06%.
More specifically, the average interest rate on consumer loans without a defined maturity (a category that comprises credit cards, revolving loans and overdrafts) increased by 8 basis points to 14.68%.
The average interest rate on consumer loans with a defined maturity at a floating rate increased by 25 basis points to 11.32%. The average interest rate on housing loans at a floating rate increased by 18 basis points to 3.81%.
The average interest rate on new corporate loans without a defined maturity increased by 19 basis points to 5.21%. The corresponding rate on loans to sole proprietors increased by 9 basis points to 7.06%.
In December 2022, the average interest rate on corporate loans with a defined maturity at a floating rate increased by 24 basis points to 4.54%. The average interest rate on loans with a defined maturity at a floating rate to small and medium-sized enterprises (SMEs) increased by 15 basis points to 4.83%.
As regards the structure of interest rates according to the size of loans granted, the average rate on loans of up to €250,000 increased by 5 basis points to 6.14%, on loans of over €250,000 and up to €1 million increased by 11 basis points to 5.14% and on loans of over €1 million increased by 25 basis points to 4.49%.
2. Interest rates on outstanding amounts of euro-denominated deposits and loans
Deposits
The weighted average interest rate on outstanding amounts of deposits (including overnight deposits) increased by 4 basis points to 0.09%.
In particular, the average interest rate on outstanding amounts of deposits with an agreed maturity of up to 2 years placed by households increased by 8 basis points to 0.22%. The corresponding rate on deposits from non-financial corporations increased by 46 basis points to 0.73%.
Loans
The weighted average interest rate on outstanding amounts of loans increased by 44 basis points to 5.02%.
In particular, the average interest rate on outstanding amounts of housing loans with over 5 years’ maturity increased by 27 basis points to 3.68%. The corresponding rate on consumer and other loans to individuals and private non-profit institutions increased by 8 basis points to 7.02%.
The average interest rate on corporate loans with over 5 years’ maturity increased by 74 basis points to 4.71%. The corresponding rate on loans to sole proprietors increased by 33 basis points to 5.87%.
Table 1: Average interest rates on new euro-denominated deposits and loans (percentages per annum)
|
|
| October 2022 | November 2022 | December 2022 |
| DEPOSITS | Overnight from households | 0.03 | 0.03 | 0.03 |
| Overnight from non-financial corporations | 0.01 | 0.03 | 0.05 |
| From households with an agreed maturity of up to 1 year | 0.20 | 0.20 | 0.33 |
| Weighted average rate on all deposits | 0.05 | 0.06 | 0.10 |
| LOANS | Consumer without a defined maturity | 14.44 | 14.60 | 14.68 |
| Corporate without a defined maturity | 4.79 | 5.02 | 5.21 |
| To sole proprietors without a defined maturity | 6.83 | 6.97 | 7.06 |
| Housing at a floating rate | 4.00 | 3.63 | 3.81 |
| Consumer with a defined maturity at a floating rate | 11.37 | 11.07 | 11.32 |
| Corporate with a defined maturity at a floating rate: | 4.17 | 4.30 | 4.54 |
| -amounts of up to €250,000 | 5.76 | 6.09 | 6.14 |
| -amounts of over €250,000 and up to €1 million | 4.64 | 5.03 | 5.14 |
| -amounts of over €1 million | 4.03 | 4.24 | 4.49 |
| Loans with a defined maturity to small and medium-sized enterprises at a floating rate | 4.42 | 4.68 | 4.83 |
| Weighted average rate on all loans | 4.86 | 4.89 | 5.06 |
| Interest rate spread | 4.81 | 4.83 | 4.96 |
Table 2: Average interest rates on outstanding amounts of euro-denominated deposits and loans (percentages per annum)
|
|
| October 2022 | November 2022 | December 2022 |
| DEPOSITS | From households with an agreed maturity of up to 2 years | 0.11 | 0.14 | 0.22 |
| From non-financial corporations with an agreed maturity of up to 2 years | 0.19 | 0.27 | 0.73 |
| Weighted average rate on all deposits | 0.04 | 0.05 | 0.09 |
| LOANS | Housing with over 5 years’ maturity | 3.02 | 3.41 | 3.68 |
| Consumer and other loans to individuals and private non-profit institutions with over 5 years’ maturity | 6.80 | 6.94 | 7.02 |
| Corporate with over 5 years’ maturity | 3.70 | 3.97 | 4.71 |
| To sole proprietors with over 5 years’ maturity | 5.07 | 5.54 | 5.87 |
| Weighted average rate on all loans | 4.27 | 4.58 | 5.02 |
| Interest rate spread | 4.23 | 4.53 | 4.93 |
Notes:
- The interest rate spread is the difference between the weighted average rate on all loans and the weighted average rate on all deposits.
- For the calculation of the weighted average interest rate on all outstanding deposits, the overnight deposits are also taken into account.
- Loans at a floating rate comprise also loans with an initial rate fixation period of up to one year.
- New business refers to new contracts that were agreed during the reference month and not actual loan disbursements.
Related information:
The complete data set of bank deposit and loan interest rates is published in the sub-section “Bank deposit and loan interest rates” on the Bank of Greece website.
The next Press Release for January 2023 will be published on 3 March 2023 according to the Release calendar on the Bank of Greece website.
Related links:
Bank deposit and loan interest rates
Release calendar