Interest Rates on Bank Deposits and Loans: December 2021
03/02/2022 - Press Releases
- The weighted average interest rate on new deposits remained unchanged at 0.05% in December 2021, while the weighted average interest rate on new loans stood at 3.76%.
- The interest rate spread between new deposits and loans increased to 3.71 percentage points.
- The weighted average interest rates on outstanding amounts of deposits remained unchanged at 0.04%, while the corresponding rate on loans remained almost unchanged at 3.50%.
- The interest rate spread between outstanding amounts of deposits and loans remained almost unchanged at 3.46 percentage points.
1. Interest rates on euro-denominated new deposits and loans
New Deposits
The weighted average interest rate on new deposits remained unchanged at 0.05%.
In particular, the average interest rates on overnight deposits placed by households and non-financial corporations remained unchanged at 0.03% and 0.00% respectively. The average interest rate on deposits from households with an agreed maturity of up to 1 year remained also unchanged at 0.14% compared with the previous month.
New Loans
The weighted average interest rate on new loans to households and non-financial corporations remained almost unchanged at 3.76%.
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 13 basis points to 14.63%.
The average interest rate on consumer loans with a defined maturity at a floating rate decreased by 8 basis points to 11.34%. The average interest rate on housing loans at a floating rate also decreased by 36 basis points to 2.05%.
The average interest rate on new corporate loans without a defined maturity remained unchanged at 4.02%, while the corresponding rate on loans to sole proprietors decreased by 5 basis points to 6.42%.
In December 2021, the average interest rate on corporate loans with a defined maturity at a floating rate increased by 27 basis points to 2.83% compared to 2.56% in the previous month. The interest rate on loans with a defined maturity at a floating rate to small and medium-sized enterprises (SMEs) also increased to 3.41% from 3.29% in the previous month.
As regards the structure of interest rates according to the size of loans granted, the rate on loans of up to €250,000 increased by 7 basis points to 4.46%, on loans of over €250,000 and up to €1 million increased by 14 basis points to 3.32% and on loans of over €1 million it increased by 39 basis points to 2.77%.
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) remained unchanged at 0.04%.
In particular, the average interest rates on outstanding amounts of deposits with an agreed maturity of up to 2 years placed by households and non-financial corporations remained unchanged at 0.10% and 0.07% respectively.
Loans
The weighted average interest rate on outstanding amounts of loans remained almost unchanged at 3.50%.
In particular, the average interest rate on outstanding amounts of housing loans with over 5 years’ maturity remained almost unchanged at 1.89%, while on the one on consumer and other loans to individuals and private non-profit institutions decreased by 7 basis points to 6.34%. The average interest rate on corporate loans with over 5 years’ maturity decreased by 7 basis points to 3.02%, while the corresponding rate on loans to sole proprietors also decreased by 4 basis points to 4.25%.
Table 1: Average interest rates on new euro-denominated deposits and loans (percentages per annum)
|
|
| October 2021 | November 2021 | December 2021 |
| DEPOSITS | Overnight from households | 0.03 | 0.03 | 0.03 |
| Overnight from non-financial corporations | 0.00 | 0.00 | 0.00 |
| From households with an agreed maturity of up to 1 year | 0.14 | 0.14 | 0.14 |
| Weighted average rate on all deposits | 0.05 | 0.05 | 0.05 |
| LOANS | Consumer without a defined maturity | 14.48 | 14.50 | 14.63 |
| Corporate without a defined maturity | 4.13 | 4.02 | 4.02 |
| To sole proprietors without a defined maturity | 6.49 | 6.47 | 6.42 |
| Housing at a floating rate | 2.43 | 2.41 | 2.05 |
| Consumer with a defined maturity at a floating rate | 11.39 | 11.42 | 11.34 |
| Corporate with a defined maturity at a floating rate: | 2.85 | 2.56 | 2.83 |
| -amounts of up to €250,000 | 4.36 | 4.39 | 4.46 |
| -amounts of over €250,000 and up to €1 million | 3.36 | 3.18 | 3.32 |
| -amounts of over €1 million | 2.73 | 2.38 | 2.77 |
| Loans with a defined maturity to small and medium-sized enterprises at a floating rate | 3.16 | 3.29 | 3.41 |
| Weighted average rate on all loans | 3.94 | 3.73 | 3.76 |
| Interest rate spread | 3.89 | 3.68 | 3.71 |
| | | | | |
Table 2: Average interest rates on outstanding amounts of euro-denominated deposits and loans (percentages per annum)
|
|
| October 2021 | November 2021 | December 2021 |
| DEPOSITS | From households with an agreed maturity of up to 2 years | 0.10 | 0.10 | 0,10 |
| From non-financial corporations with an agreed maturity of up to 2 years | 0.07 | 0.07 | 0,07 |
| Weighted average rate on all deposits | 0.04 | 0.04 | 0,04 |
| LOANS | Housing with over 5 years’ maturity | 1.92 | 1.91 | 1,89 |
| Consumer and other loans to individuals and private non-profit institutions with over 5 years’ maturity | 6.40 | 6.41 | 6,34 |
| Corporate with over 5 years’ maturity | 3.10 | 3.09 | 3,02 |
| To sole proprietors with over 5 years’ maturity | 4.29 | 4.29 | 4,25 |
| Weighted average rate on all loans | 3.51 | 3.51 | 3,50 |
| Interest rate spread | 3.47 | 3.47 | 3.46 |
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 2022 will be published on 3 March 2022, according to the Release calendar on the Bank of Greece website.
Related links:
Bank deposit and loan interest rates
Release calendar