Press Releases

Interest Rates on Bank Deposits and Loans: June 2011

08/08/2011 - Press Releases

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

In June 2011 average interest rates on new deposits and loans generally increased, except for the rate on housing loans with floating rate or with an initial rate fixation period of up to one year which slightly decreased and the corresponding rate on corporate loans up to EUR 250,000 that remained unchanged (see Table 1).

More specifically, in June 2011, the average interest rate on overnight deposits from households remained basically unchanged at 0.47%, while the corresponding rate on deposits from non-financial corporations increased by 7 basis points to 0.42%. The average interest rate on deposits from households with an agreed maturity of up to 1 year increased further by 15 basis points to 4.10%.

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 June 2011 by 5 basis points to 14.94%. The average interest rate on corporate loans without a defined maturity increased by 25 basis points to 7.59% and the corresponding rate on loans to sole proprietors increased by 12 basis points to 10.10%. 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 remained unchanged at 7.31% for loans up to EUR 250,000, increased by 27 basis points to 6.37% for loans above EUR 250,000 and up to EUR 1 million and by 8 basis points to 5.56% for loans above EUR 1 million. Finally, the average interest rate on housing loans slightly decreased by 3 basis points to 4.23% for loans at a floating rate or with an initial rate fixation period of up to one year, while for loans with an initial fixation period of over 1 and up to 5 years increased further by 7 basis points to 4.12%.

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

In June 2011 the average interest rates on outstanding amounts of deposits and loans increased, except for the average rate on deposits with an agreed maturity of up to 2 years from households which remained basically unchanged (see Table 2).

In particular, the average interest rate on outstanding amounts of deposits from households with an agreed maturity of up to 2 years remained basically unchanged in June 2011 at 3.73%, while the corresponding rate on deposits from non-financial corporations increased by 13 basis points to 3.87%. The average interest rate on outstanding amounts of housing loans with over five years’ maturity increased by 2 basis points to 3.85%. The corresponding rate on corporate loans increased by 18 basis points to 5.07%, and the rate on loans to sole proprietors by 17 basis points to 6.11%.

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

 

 

April 2011

May 2011

June 2011

DEPOSITS

Overnight from households

0.46

0.46

0.47

Overnight from non-financial corporations

0.38

0.35

0.42

From households with an agreed maturity of up to 1 year

3.88

3.95

4.10

LOANS

Consumer without a defined maturity

14.74

14.89

14.94

Corporate without a defined maturity 

7.26

7.34

7.59

To sole proprietors without a defined maturity

9.91

9.98

10.10

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

7.01

6.01

5.55

7.31

6.10

5.48

7.31

6.37

5.56

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

4.25

4.26

4.23

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

3.80

4.05

4.12

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

 

 

April 2011

May 2011

June 2011

DEPOSITS

From households with an agreed maturity of up to 2 years

3.64

3.72

3.73

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

3.75

3.74

3.87

LOANS

Housing  with over 5 years’ maturity

3.77

3.83

3.85

Corporate with over 5 years’ maturity

4.79

4.89

5.07

To sole proprietors with over 5 years’ maturity

5.71

5.94

6.11

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