Interest Rates on Bank Deposits and Loans: September 2021
03/11/2021 - Press Releases
- The weighted average interest rate on new deposits remained unchanged at 0.05% in September 2021, while the weighted average interest rate on new loans decreased to 3.77%.
- The interest rate spread between new deposits and loans decreased to 3.72 percentage points.
- The weighted average interest rates on outstanding amounts of deposits and loans remained almost unchanged at 0.04% and 3.57% respectively.
- The interest rate spread between outstanding amounts of deposits and loans remained almost unchanged at 3.53 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 0.01% respectively. The average interest rate on deposits from households with an agreed maturity of up to 1 year remained almost 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 decreased by 37 basis points to 3.77%.
More specifically, the average interest rate on consumer loans without a defined maturity (a category which comprises credit cards, revolving loans and overdrafts) decreased by 4 basis points to 14.28%.
The average interest rate on consumer loans with a defined maturity at a floating rate decreased by 74 basis points to 11.29%. The average interest rate on housing loans at a floating rate remained almost unchanged at 2.33%.
The average interest rate on new corporate loans without a defined maturity remained unchanged at 4.25%, while the corresponding rate on loans to sole proprietors decreased by 4 basis points to 6.49%.
In September 2021, the average interest rate on corporate loans with a defined maturity at a floating rate decreased by 71 basis points to 2.51% compared to 3.22% in the previous month. More specifically, the interest rate on loans with a defined maturity at a floating rate to small and medium-sized enterprises (SMEs) decreased to 3.24% from 3.30% 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 4 basis points to 4.35%, on loans of over €250,000 and up to €1 million decreased by 7 basis points to 3.28%, while on loans of over €1 million decreased by 74 basis points to 2.41%.
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 almost unchanged at 0.04%.
In particular, the average interest rate on outstanding amounts of deposits with an agreed maturity of up to 2 years placed by households remained unchanged at 0.11%, while the corresponding rate on deposits by non-financial corporations remained almost unchanged at 0.07%.
Loans
The weighted average interest rate on outstanding amounts of loans remained almost unchanged at 3.57%.
In particular, the average interest rate on outstanding amounts of housing loans with over 5 years’ maturity remained unchanged at 2.02%. The average interest rate on outstanding amounts of consumer and other loans to individuals and private non-profit institutions with a maturity of over 5 years increased by 4 basis points to 6.61%; the corresponding rates on corporate loans and loans to sole proprietors remained almost unchanged at 3.12% and 4.30% respectively.
Table 1: Average interest rates on new euro-denominated deposits and loans (percentages per annum)
|
|
| July 2021 | August 2021 | September 2021 |
| DEPOSITS | Overnight from households | 0.04 | 0.03 | 0.03 |
| Overnight from non-financial corporations | 0.01 | 0.01 | 0.01 |
| From households with an agreed maturity of up to 1 year | 0.14 | 0.16 | 0.14 |
| Weighted average rate on all deposits | 0.05 | 0.05 | 0.05 |
| LOANS | Consumer without a defined maturity | 14.39 | 14.32 | 14.28 |
| Corporate without a defined maturity | 4.25 | 4.25 | 4.25 |
| To sole proprietors without a defined maturity | 6.55 | 6.53 | 6.49 |
| Housing at a floating rate | 2.44 | 2.35 | 2.33 |
| Consumer with a defined maturity at a floating rate | 11.52 | 12.03 | 11.29 |
| Corporate with a defined maturity at a floating rate: | 3.18 | 3.22 | 2.51 |
| -amounts of up to €250.000 | 5.26 | 4.31 | 4.35 |
| -amounts of over €250.000 and up to €1 million | 3.32 | 3.35 | 3.28 |
| -amounts of over €1 million | 3.03 | 3.15 | 2.41 |
| Loans with a defined maturity to small and medium-sized enterprises at a floating rate | 3.60 | 3.30 | 3.24 |
| Weighted average rate on all loans | 4.05 | 4.14 | 3.77 |
| Interest rate spread | 4.00 | 4.09 | 3.72 |
| | | | | |
Table 2: Average interest rates on outstanding amounts of euro-denominated deposits and loans (percentages per annum)
|
|
| July 2021 | August 2021 | September 2021 |
| DEPOSITS | From households with an agreed maturity of up to 2 years | 0.12 | 0.11 | 0.11 |
| From non-financial corporations with an agreed maturity of up to 2 years | 0.08 | 0.08 | 0.07 |
| Weighted average rate on all deposits | 0.05 | 0.05 | 0.04 |
| LOANS | Housing with over 5 years’ maturity | 2.02 | 2.02 | 2.02 |
| Consumer and other loans to individuals and private non-profit institutions with over 5 years’ maturity | 6.58 | 6.57 | 6.61 |
| Corporate with over 5 years’ maturity | 3.16 | 3.14 | 3.12 |
| To sole proprietors with over 5 years’ maturity | 4.30 | 4.29 | 4.30 |
| Weighted average rate on all loans | 3.61 | 3.59 | 3.57 |
| Interest rate spread | 3.56 | 3.54 | 3.53 |
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 October 2021 will be published on 2 December 2021, according to the Release calendar, as published on the Bank of Greece website.
Related links:
Bank deposit and loan interest rates
Release calendar