Interest Rates on Bank Deposits and Loans: August 2018
04/10/2018 - Press Releases
1. INTEREST RATES ON EURO-DENOMINATED NEW DEPOSITS AND LOANS
In August 2018, the overall weighted average interest rates on new deposits and loans remained almost unchanged. The spread* between loan and deposit rates stood at 4.41 percentage points (see Table 1).
The overall weighted average interest rate on all new deposits remained almost unchanged at 0.28%. In particular, the average interest rates on overnight deposits placed by households and by non-financial corporations remained unchanged at 0.09% and 0.14%, respectively. The average interest rate on deposits from households with an agreed maturity of up to 1 year stood at 0.59% from 0.62% in the previous month.
The overall weighted average interest rate on all new loans to households and non-financial corporations remained almost unchanged at 4.69%.
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 almost unchanged at 14.35%. The average interest rate on consumer loans with a defined maturity at a floating rate increased by 39 basis points to 10.71%.
The average interest rate on corporate loans without a defined maturity decreased by 5 basis points to 5.14%. Τhe corresponding rate on loans to sole proprietors remained almost unchanged at 6.93%. The average interest rate on corporate loans with a defined maturity at a floating rate (1) stood at 3.85% from 3.82% in the previous month. In particular, the rate on loans of up to €250,000 decreased by 31 basis points to 5.13%, on loans of over €250,000 and up to €1 million decreased by 9 basis points to 4.48%, while the rate on loans of over €1 million increased by 15 basis points to 3.78%. Finally, the average interest rate on housing loans at a floating rate (1) decreased by 8 basis points to 2.97%.
2. INTEREST RATES ON OUTSTANDING AMOUNTS OF EURO-DENOMINATED DEPOSITS AND LOANS
In August 2018, the overall weighted average interest rate on the outstanding amounts of all deposits remained unchanged, while the corresponding rate on all loans remained almost unchanged. The spread* between loan and deposit rates stood at 4.01 percentage points (see Table 2).
In more detail, the overall weighted average interest rate on the outstanding amounts of all deposits (including overnight deposits) remained unchanged at 0.30%, while the corresponding rate on all loans stood at 4.31% from 4.34% in the previous month.
In particular, the average interest rate on the outstanding amounts of deposits with an agreed maturity of up to 2 years placed by households remained unchanged at 0.61%. The average interest rate on the outstanding amounts of deposits with an agreed maturity of up to 2 years placed by non-financial corporations remained also unchanged at 0.86%. The average interest rate on the outstanding amounts of housing loans with over 5 years’ maturity remained almost unchanged at 2.14%. The average interest rate on the outstanding amounts of consumer loans (2) with over 5 years’ maturity decreased by 4 basis points to 6.05%. The corresponding rate on corporate loans remained almost unchanged at 3.75%. The average interest rate on the outstanding amounts of loans to sole proprietors with over 5 years’ maturity decreased by 7 basis points to 4.56%.
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Table 1: Average interest rates on new euro-denominated deposits and loans
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June
2018
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July 2018
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August 2018
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DEPOSITS
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Overnight from households
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0.09
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0.09
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0.09
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Overnight from non-financial corporations
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0.14
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0.14
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0.14
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From households with an agreed maturity of up to 1 year
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0.60
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0.62
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0.59
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Overall weighted average rate on all deposits
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0.28
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0.30
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0.28
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LOANS
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Consumer without a defined maturity
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14.38
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14.34
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14.35
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Corporate without a defined maturity
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5.24
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5.19
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5.14
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To sole proprietors without a defined maturity
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7.00
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6.95
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6.93
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Consumer at a floating rate1
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8.46
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10.32
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10.71
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Corporate with a fixed maturity at a floating rate[1]:
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3.38
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3.82
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3.85
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-amounts of up to €250.000
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5.35
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5.44
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5.13
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-amounts of over €250.000 and up to €1 million
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4.28
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4.57
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4.48
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-amounts of over €1 million
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3.27
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3.63
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3.78
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Housing at a floating rate1
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2.97
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3.05
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2.97
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Overall weighted average rate on all loans
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4.39
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4.71
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4.69
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Interest rate spread*
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4.11
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4.41
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4.41
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Table 2: Average interest rates on outstanding amounts of euro-denominated deposits and loans
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June
2018
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July 2018
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August 2018
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DEPOSITS
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From households with an agreed maturity of up to 2 years
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0.62
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0.61
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0.61
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From non-financial corporations with an agreed maturity of up to 2 years
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0.87
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0.86
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0.86
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Overall weighted average rate on all deposits**
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0.31
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0.30
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0.30
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LOANS
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Housing with over 5 years’ maturity
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2.20
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2.15
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2.14
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Consumer with over 5 years’ maturity
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6.18
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6.09
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6.05
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Corporate with over 5 years’ maturity
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3.76
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3.78
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3.75
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To sole proprietors with over 5 years’ maturity
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4.67
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4.63
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4.56
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Overall weighted average rate on all loans
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4.38
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4.34
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4.31
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Interest rate spread*
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4.07
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4.04
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4.01
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*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 the overall weighted average rate on all deposits the overnight deposits are also taken into account.
The complete data set of bank deposit and loan interest rates are published here.
Note: The next Press Release on “Interest Rates on Bank Deposits and Loans” for September 2018 will be published on 31 October 2018.
(1) Loans at a floating rate comprise also loans with an initial rate fixation period of up to one year.
(2) Including other loans to individuals and private non-profit institutions