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Interest Rates on Bank Deposits and Loans: April 2013

05/06/2013 - Press Releases

1. INTEREST RATES ON NEW EURO-DENOMINATED DEPOSITS AND LOANS

In April 2013, the overall weighted average interest rates on both new deposits and new loans decreased. The interest rate spread* between loan and deposit rates increased by 6 basis points to 3.12 percentage points (see Table 1).

In the case of deposits, in April 2013, the average interest rates on overnight deposits from households and from non-financial corporations remained almost unchanged at 0.49% and 0.44% respectively. The average interest rate on deposits from households with an agreed maturity of up to one year decreased further by 14 basis points to 4.22%. The overall weighted average interest rate on all new deposits decreased by 9 basis points to 2.63%.

In the case of loans, the average interest rate on consumer loans without a defined maturity (a category which includes credit card debt, open account loans and debit balances on current accounts) remained almost unchanged, in April 2013, at 14.77%. On the contrary, the average interest rate on consumer loans with a defined maturity at a floating rate or with an initial rate fixation period of up to one year decreased further by 10 basis points to 7.86%.

The average interest rates on corporate loans and loans to sole proprietors without a defined maturity decreased by 7 and 3 basis points to 7.49% and 9.99% respectively. The average interest rate on corporate loans with a defined maturity at a floating rate or with an initial rate fixation period of up to one year increased by 6 basis points to 7.24% for loans up to EUR 250,000, increased by 20 basis points to 6.45% for loans above EUR 250,000 and up to EUR 1 million, and increased by 16 basis points at 5.96% for loans above EUR 1 million. Finally, the average interest rate on housing loans at a floating rate or with an initial fixation period of up to one year decreased by 10 basis points to 3.08%. In April 2013, the overall weighted average interest rate on all new loans to households and corporations slightly decreased by 3 basis points to 5.75%.

2. INTEREST RATES ON OUTSTANDING AMOUNTS OF EURO-DENOMINATED DEPOSITS AND LOANS

In April 2013, the overall weighted average interest rates on both the outstanding amounts of all deposits and the outstanding amounts of all loans decreased. The spread* between loan and deposit rates increased by 4 basis points to 2.94 percentage points (see Table 2).

In particular, in April 2013, the average interest rates on outstanding amounts of deposits from households and deposits from non-financial corporations with an agreed maturity of up to two years decreased further by 9 and 15 basis points to 4.42% and 4.16% respectively. The average interest rate on outstanding amounts of housing loans with over five years’ maturity remained almost unchanged at 3.18%. The corresponding rate on loans to sole proprietors remained also unchanged at 6.03%, while the rate on corporate loans decreased by 13 basis points to 4.67%.

In April 2013, the overall weighted average interest rate on the outstanding amount of all deposits (including overnight deposits) decreased by 9 basis points to 2.84% and the corresponding rate on loans decreased by 5 basis points to 5.78%.

Table 1: Average interest rates on new euro-denominated deposits and loans

 

 

February 2013

March 2013

April 2013

DEPOSITS

Overnight from households

0.48

0.49

0.49

Overnight from non-financial corporations

0.49

0.44

0.44

From households with an agreed maturity of up to 1 year

4.49

4.36

4.22

Overall weighted average rate on all deposits

2.78

2.72

2.63

LOANS

Consumer without a defined maturity

14.77

14.78

14.77

Corporate without a defined maturity 

7.52

7.56

7.49

To sole proprietors without a defined maturity

10.02

10.02

9.99

Consumer with a defined maturity at a floating rate or with an initial fixation period of up to 1 year

8.10

7.96

7.86

Corporate with a fixed maturity at a floating rate or with an initial fixation period of up to 1 year rate:      

 -loans up to an amount of EUR 250,000

 -loans above EUR 250,000 and up to EUR 1 million

 -loans above EUR 1 million

7.36

6.16

5.84

7.18

6.25

5.80

7.24

6.45

5.96

Housing at a floating rate or with an initial fixation period of up to 1 year

3.04

3.18

3.08

Overall weighted average rate on all loans

5.79

5.78

5.75

  Interest rate spread*

3.01

3.06

3.12

Table 2: Average interest rates on outstanding amounts of euro-denominated deposits and loans

 

 

February 2013

March 2013

April 2013

DEPOSITS

From households with an agreed maturity of up to 2 years

4.56

4.51

4.42

From non-financial corporations with  an agreed maturity of up to 2 years

4.51

4.31

4.16

Overall weighted average rate on all deposits**

2.97

2.93

2.84

LOANS

Housing with over 5 years’ maturity

3.21

3.19

3.18

Corporate with over 5 years’ maturity

4.66

4.80

4.67

To sole proprietors with over 5 years’ maturity

6.00

6.03

6.03

Overall weighted average rate on all loans

5.82

5.83

5.78

  Interest rate spread*

2.85

2.90

2.94

*The interest rate spread is the difference between the overall weighted average rate on all loans and the overall weighted average rate on all deposits.
**For the calculation of this average rate the overnight deposits are also taken into account.

 

 

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