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Interest Rates on Bank Deposits and Loans: September 2011

09/11/2011 - Press Releases

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

In September 2011 the average interest rates on new deposits and loans generally increased, except for the rate on housing loans at a floating rate or with an initial fixation period of up to one year which decreased (see Table 1).

More specifically, in September 2011, the average interest rate on overnight deposits from households remained unchanged at 0.47%, while the corresponding rate on deposits from non-financial corporations remained almost unchanged at 0.43%. The average interest rate on deposits from households with an agreed maturity of up to 1 year increased by 6 basis points to 4.37%.

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 September 2011 at 15.26%. The average interest rate on corporate loans without a defined maturity increased by 15 basis points to 7.91% and the corresponding rate on loans to sole proprietors increased by 9 basis points to 10.44%. 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 9 basis points to 7.65% for loans up to EUR 250,000, by 28 basis points to 6.79% for loans above EUR 250,000 and up to 1 million and by 16 basis points to 6.04% for loans above EUR 1 million. The average interest rate on housing loans at a floating rate or with an initial fixation period of up to one year decreased by 5 basis points to 4.49%, while the corresponding rate on loans with an initial fixation period of over 1 and up to 5 years remained almost unchanged to 4.26%.

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

In September 2011 the average interest rates on outstanding amounts of deposits and loans generally increased (see Table 2).

In particular, in September 2011, the average interest rate on outstanding amounts of deposits from households with an agreed maturity of up to 2 years increased by 6 basis points to 4.11%, while the corresponding rate on deposits from non-financial corporations also increased by 7 basis points to 4.08%. The average interest rate on outstanding amounts of housing loans with over five years’ maturity remained almost unchanged at 3.95%. The corresponding rate on corporate loans increased by 9 basis points to 5.33%, while the rate on loans to sole proprietors increased by 7 basis points to 6.37%.

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

 

 

July 2011

August 2011

September 2011

DEPOSITS

Overnight from households

0.47

0.47

0.47

Overnight from non-financial corporations

0.45

0.44

0.43

From households with an agreed maturity of up to 1 year

4.29

4.31

4.37

LOANS

Consumer without a defined maturity

15.06

15.24

15.26

Corporate without a defined maturity 

7.65

7.76

7.91

To sole proprietors without a defined maturity

10.19

10.35

10.44

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 1 million

 -loans above EUR 1 million

7.39

6.52

5.76

7.56

6.51

5.88

7.65

6.79

6.04

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

4.44

4.54

4.49

Housing with an initial fixation period of over one and up to 5 years

4.33

4.25

4.26

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

 

 

July 2011

August 2011

September 2011

DEPOSITS

From households with an agreed maturity of up to 2 years

3.88

4.05

4.11

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

4.01

4.01

4.08

LOANS

Housing  with over 5 years’ maturity

3.94

3.96

3.95

Corporate with over 5 years’ maturity

5.14

5.24

5.33

To sole proprietors with over 5 years’ maturity

6.22

6.30

6.37

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