Interest Rates on Bank Deposits and Loans: April 2015
05/06/2015 - Press Releases
1. INTEREST RATES ON EURO-DENOMINATED NEW DEPOSITS AND LOANS
In April 2015, the overall weighted average interest rate on new deposits remained almost unchanged, while the one on loans exhibited a small decrease. The interest rate spread* between loan and deposit rates stood at 3.79 percentage points compared with 3.81 points in the previous month (see Table 1).
The overall weighted average interest rate on all new deposits stood at 1.12%, almost unchanged from the previous month. In particular, the average interest rate on overnight deposits placed by households remained almost unchanged at 0.18%, while the corresponding rate on deposits by non-financial corporations decreased by 3 basis points, to 0.28%. The average interest rate on deposits placed by households with an agreed maturity of up to one year remained almost unchanged at 1.82%.
The overall weighted average interest rate on all new loans to households and corporations decreased by 3 basis points from the previous month to 4.91%.
More specifically, the average interest rate on consumer loans without a defined maturity (a category which comprises credit card debt, open account loans and overdrafts) stood at 14.56%, almost unchanged from the previous month. The average interest rate on consumer loans with a defined maturity at a floating rate (1) increased by 18 basis points to 7.19%.
The average interest rate on corporate loans without a defined maturity decreased by 9 basis points to 6.27%. The corresponding rate on loans to sole proprietors decreased by 8 basis points to 7.79%. The average interest rate on corporate loans with a defined maturity at a floating rate1 on loans of up to €250,000 decreased by 49 basis points to 5.64%, on loans of over €250,000 and up to €1 million increased by 15 basis points to 5.19% and on loans of over €1 million remained almost unchanged at 4.98%. Finally, the average interest rate on housing loans at a floating rate (1) decreased by 22 basis points to 2.40%.
2. INTEREST RATES ON OUTSTANDING AMOUNTS OF EURO-DENOMINATED DEPOSITS AND LOANS
In April 2015, the overall weighted average interest rates on both the outstanding amounts of all deposits and of all loans decreased. The spread* between loan and deposit rates remained almost unchanged at 4.01 percentage points (see Table 2).
In further detail, the overall weighted average interest rate on the outstanding amount of all deposits (including overnight deposits) decreased by 4 basis points from the previous month to 1.09%, while the corresponding rate on loans decreased by 3 basis points to 5.10%.
In particular, the average interest rate on outstanding amounts of deposits placed by households with an agreed maturity of up to 2 years decreased by 4 basis points to 1.90%. The corresponding rate on deposits placed by non-financial corporations also decreased by 4 basis points to 1.83%. The average interest rates on outstanding amounts of housing loans, corporate loans and loans to sole proprietors with over 5 years’ maturity remained unchanged at 2.83%, 4.25% and 5.22% respectively.
Table 1: Average interest rates on new euro-denominated deposits and loans
|
|
|
February 2015
|
March 2015
|
April 2015
|
|
DEPOSITS
|
Overnight from households
|
0.17
|
0.17
|
0.18
|
|
Overnight from non-financial corporations
|
0.29
|
0.31
|
0.28
|
|
From households with an agreed maturity of up to 1 year
|
1.81
|
1.83
|
1.82
|
|
Overall weighted average rate on all deposits
|
1.12
|
1.13
|
1.12
|
|
LOANS
|
Consumer without a defined maturity
|
14.54
|
14.53
|
14.56
|
|
Corporate without a defined maturity
|
6.35
|
6.36
|
6.27
|
|
To sole proprietors without a defined maturity
|
7.97
|
7.87
|
7.79
|
|
Consumer with a defined maturity at a floating rate1
|
7.19
|
7.01
|
7.19
|
|
Corporate with a fixed maturity at a floating rate1:
|
|
|
|
|
-loans of up to €250,000
|
6.06
|
6.13
|
5.64
|
|
-loans of over €250,000 and up to €1 million
|
5.26
|
5.04
|
5.19
|
|
-loans of over €1 million
|
4.86
|
4.97
|
4.98
|
|
Housing at a floating rate1
|
2.36
|
2.62
|
2.40
|
|
Overall weighted average rate on all loans
|
4.90
|
4.94
|
4.91
|
|
Interest rate spread*
|
3.78
|
3.81
|
3.79
|
Table 2: Average interest rates on outstanding amounts of euro-denominated deposits and loans
|
|
|
February 2015
|
March 2015
|
April 2015
|
|
|
DEPOSITS
|
From households with an agreed maturity of up to 2 years
|
1.99
|
1.94
|
1.90
|
|
|
From non-financial corporations with an agreed maturity of up to 2 years
|
1.87
|
1.87
|
1.83
|
|
|
Overall weighted average rate on all deposits**
|
1.17
|
1.13
|
1.09
|
|
|
LOANS
|
Housing with over 5 years’ maturity
|
2.84
|
2.83
|
2.83
|
|
|
Corporate with over 5 years’ maturity
|
4.28
|
4.24
|
4.25
|
|
|
To sole proprietors with over 5 years’ maturity
|
5.48
|
5.22
|
5.22
|
|
|
Overall weighted average rate on all loans
|
5.17
|
5.13
|
5.10
|
|
|
Interest rate spread*
|
4.00
|
4.00
|
4.01
|
(1) Loans at a floating rate comprise also loans with an initial rate fixation period of up to one year.
*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.