Interest Rates on Bank Deposits and Loans: November 2023
05/01/2024 - Press Releases
- In November 2023, the weighted average interest rates on new deposits and new loans increased to 0.50% and 6.25% respectively.
- The interest rate spread between new deposits and loans increased to 5.75 percentage points.
- In November 2023, the weighted average interest rates on outstanding amounts of deposits and loans remained almost unchanged at 0.48% and at 6.40% respectively.
- The interest rate spread between outstanding amounts of deposits and loans remained almost unchanged at 5.92 percentage points.
1. Interest rates on euro-denominated new deposits and loans
New Deposits
The weighted average interest rate on new deposits increased by 4 basis points to 0.50%, compared to the previous month.
In particular, the average interest rate on overnight deposits placed by households remained unchanged at 0.03%, while the corresponding rate on deposits by non-financial corporations increased by 4 basis points to 0.22%.
The average interest rate on deposits from households with an agreed maturity of up to 1 year remained almost unchanged at 1.79%. The corresponding rate on deposits by non-financial corporations increased by 8 basis points to 3.14%.
New Loans
The weighted average interest rate on new loans to households and non-financial corporations increased by 8 basis points to 6.25%.
More specifically, the average interest rate on consumer loans without a defined maturity (a category that comprises credit cards, revolving loans and overdrafts) increased by 6 basis points to 14.96%.
The average interest rate on consumer loans with a defined maturity at a floating rate remained almost unchanged at 12.61%, while the average interest rate on housing loans at a floating rate remained unchanged at 5.10%.
The average interest rate on corporate loans without a defined maturity remained almost unchanged at 6.87%. The corresponding rate on loans to sole proprietors remained also almost unchanged at 7.77%.
In November 2023, the average interest rate on new corporate loans with a defined maturity at a floating rate increased by 11 basis points to 6.04%. The average interest rate on loans with a defined maturity at a floating rate to small and medium-sized enterprises (SMEs) increased by 26 basis points to 6.23%.
As regards the structure of interest rates according to the size of loans granted, the average rate on loans of up to €250,000 increased by 8 basis points to 5.79%, on loans of over €250,000 and up to €1 million it increased by 39 basis points to 6.15%, while on loans of over €1 million it increased by 5 basis points to 6.04%.
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 0.48%.
In particular, the average interest rate on outstanding amounts of deposits with an agreed maturity of up to 2 years placed by households increased by 4 basis points to 1.64%. The corresponding rate on deposits placed by non-financial corporations remained almost unchanged at 2.81%.
Loans
The weighted average interest rate on outstanding amounts of loans remained almost unchanged at 6.40%.
In particular, the average interest rate on outstanding amounts of housing loans with over 5 years’ maturity remained unchanged at 4.42%. The corresponding rate on consumer and other loans to individuals and private non-profit institutions increased by 4 basis points to 8.21%.
The average interest rate on corporate loans with over 5 years’ maturity remained almost unchanged at 6.43%, while the corresponding rate on loans to sole proprietors remained unchanged at 7.13%.
Table 1: Average interest rates on new euro-denominated deposits and loans (percentages per annum)

Table 2: Average interest rates on outstanding amounts of euro-denominated deposits and loans (percentages per annum)
Notes:
- The interest rate spread is the difference between the weighted average rate on loans and the weighted average rate on 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 December 2023 will be published on 1 February 2024 according to the Advance release calendar on the Bank of Greece website.
Related links:
Bank deposit and loan interest rates
Advance release calendar