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Interest Rates on Bank Deposits and Loans: January 2016

02/03/2016 - Press Releases

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

In January 2016, the overall weighted average interest rate on new deposits remained almost unchanged, while the corresponding rate on loans decreased. The interest rate spread* between loan and deposit rates decreased by 11 basis points to stand at 4.42 percentage points (see Table 1).

The overall weighted average interest rate on all new deposits stood at 0.55%, almost unchanged from the previous month. In particular, the average interest rate on overnight deposits placed by households remained unchanged at 0.15% and the respective rate on deposits by non-financial corporations remained almost unchanged at 0.21%. The average interest rate on deposits placed by households with an agreed maturity of up to one year remained, also, almost unchanged at 1.01%.

The overall weighted average interest rate on all new loans to households and corporations decreased by 12 basis points from the previous month to 4.97%.

More specifically, the average interest rate on consumer loans without a defined maturity (a category which comprises credit cards, open account loans and overdrafts) remained unchanged at 14.61%. The average interest rate on consumer loans at a floating rate1 increased by 4 basis points to 7.93%.

The average interest rates on corporate loans and loans to sole proprietors without a defined maturity remained almost unchanged at 6.04% and 7.47%, respectively. The average interest rate on corporate loans with a defined maturity at a floating rate decreased by 15 basis points to 5.06%. In particular, the rate on loans of up to €250,000 decreased by 28 basis points to 5.63%, on loans of over €250,000 and up to €1 million increased by 11 basis points to 5.20% and on loans of over €1 million decreased by 33 basis points to 4.86%. Finally, the average interest rate on housing loans at a floating rate1 decreased by 34 basis points to 2.35%.

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

In January 2016, the overall weighted average interest rate on the outstanding amounts of all deposits and loans remained almost unchanged. The spread* between loan and deposit rates remained also almost unchanged at 4.50 percentage points (see Table 2).

In more detail, the overall weighted average interest rates on the outstanding amounts of all deposits (including overnight deposits) and on loans remained almost unchanged at 0.54% and 5.04% respectively.

In particular, the average interest rate on the outstanding amounts of deposits placed by households with an agreed maturity of up to 2 years decreased by 7 basis points to 1.18%. The corresponding rate on deposits placed by non-financial corporations remained almost unchanged at 1.09%. The average interest rates on outstanding amounts of housing and of corporate loans with over 5 years’ maturity remained almost unchanged at 2.79% and 4.07% respectively, while the corresponding rate on loans to sole proprietors decreased by 6 basis points to 5.24%.

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

 

 

 

November 2015

December 2015

January 2016

DEPOSITS

Overnight from households

0.15

0.15

0.15

Overnight from non-financial corporations

0.21

0.19

0.21

From households with an agreed maturity of up to 1 year

1.01

1.02

1.01

Overall weighted average rate on all deposits

0.58

0.56

0.55

LOANS

Consumer without a defined maturity

14.62

14.61

14.61

Corporate without a defined maturity 

6.08

6.05

6.04

To sole proprietors without a defined maturity

7.45

7.48

7.47

Consumer at a floating rate1

7.16

7.89

7.93

Corporate with a fixed maturity at a floating rate1:

5.06

5.21

5.06

-amounts of up to €250,000

5.67

5.91

5.63

-amounts of over €250,000 and up to €1 million

5.22

5.09

5.20

-amounts of over €1 million

5.00

5.19

4.86

Housing at a floating rate1

2.46

2.69

2.35

Overall weighted average rate on all loans

4.92

5.09

4.97

Interest rate spread*

4.34

4.53

4.42

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

 

 

 

November 2015

December

2015

January 2016

DEPOSITS

From households with an agreed maturity of up to 2 years

1.37

1.25

1.18

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

1.14

1.11

1.09

Overall weighted average rate on all deposits**

0.61

0.56

0.54

LOANS

Housing with over 5 years’ maturity

2.81

2.80

2.79

Corporate with over 5 years’ maturity

4.14

4.09

4.07

To sole proprietors with over 5 years’ maturity

5.31

5.30

5.24

Overall weighted average rate on all loans

5.07

5.05

5.04

  Interest rate spread*

4.46

4.49

4.50

*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.


The complete data set of bank deposit and loan interest rates are published here

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