Press Releases

Interest Rates on Bank Deposits and Loans: January 2011

09/03/2011 - Press Releases

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

In January 2011 the average interest rates on the most important categories of new deposits and loans showed mixed developments (see Table 1).

More specifically, in January 2011, the average interest rates on overnight deposits from households and non-financial corporations decreased by 6 and 2 basis points to 0.44% and 0.34% respectively. On the other hand, the average interest rate on deposits from households with an agreed maturity of up to 1 year increased by 6 basis points to 3.74%.

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) increased in January 2011 by 19 basis points to 14.59%. On the other hand, both the average interest rate on corporate loans without a defined maturity and the corresponding rate on loans to sole proprietors remained basically unchanged at 6.81% and 9.58% 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 decreased by 20 basis points to 6.12% for loans up to EUR 1 million, and decreased by 10 basis points to 4.85% for loans above EUR 1 million. On the other hand, the average interest rate on housing loans at a floating rate or with an initial rate fixation period of up to one year increased by 28 basis points to 3.93%, while the corresponding rate on loans with an initial fixation period of over 1 and up to 5 years decreased by 31 basis points to 3.64%.

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

In January 2011 the average interest rates on the most important categories of outstanding deposits and loans had mixed developments (Table 2).

In particular, the average interest rate on outstanding amounts of deposits from households with an agreed maturity of up to 2 years slightly increased in January 2011 by 3 basis points to 3.50%, while the corresponding rate on deposits from non-financial corporations remained basically unchanged at 3.61%. The average interest rate on outstanding amounts of housing loans with over five years’ maturity remained basically unchanged at 3.68%, while the corresponding rates on corporate loans decreased by 13 basis points to 4.62% and on loans to sole proprietors increased by 19 basis points to 5.67%.

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

 

 

November 2010

December 2010

January 2011

DEPOSITS

Overnight from households

0.49

0.50

0.44

Overnight from non-financial corporations

0.35

0.36

0.34

From households with an agreed maturity of up to 1 year

3.65

3.68

3.74

LOANS

Consumer without a defined maturity

14.41

14.40

14.59

Corporate without a defined maturity 

6.62

6.79

6.81

To sole proprietors without a defined maturity

9.47

9.57

9.58

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 1 million

 -loans above EUR 1 million

6.14

4.91

6.32

4.95

6.12

4.85

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

3.67

3.65

3.93

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

3.95

3.95

3.64

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

 

 

November 2010

December 2010

January 2011

DEPOSITS

From households with an agreed maturity of up to 2 years

3.46

3.47

3.50

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

3.55

3.61

3.61

LOANS

Housing  with over 5 years’ maturity

3.68

3.68

3.68

Corporate with over 5 years’ maturity

4.68

4.75

4.62

To sole proprietors with over 5 years’ maturity

5.42

5.48

5.67

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