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Interest Rates on Bank Deposits and Loans: April 2021

07/06/2021 - Press Releases

  •  The overall weighted average interest rate on new deposits remained unchanged at 0.06%, while the corresponding rate on new loans decreased to 3.72%.
  • The interest rate spread between new deposits and loans decreased to 3.66 percentage points.
  • The overall weighted average interest rates on outstanding amounts of all deposits remained unchanged at 0.06%, while the corresponding rate on loans remained almost unchanged at 3.64%.
  • The interest rate spread between outstanding amounts of deposits and loans stood at 3.58 percentage points.

 

1.         Interest rates on euro-denominated new deposits and loans

New Deposits

The overall weighted average interest rate on all new deposits remained unchanged at 0.06%.

In particular, the average interest rates on overnight deposits placed by households and non-financial corporations remained unchanged at 0.04% and 0.02% respectively. The average interest rate on deposits from households with an agreed maturity of up to 1 year remained also unchanged at 0.16% compared with the previous month.

New Loans    

The overall weighted average interest rate on all new loans to households and non-financial corporations decreased by 24 basis points to 3.72%.

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 14.61%.

The average interest rate on consumer loans with a defined maturity at a floating rate increased by 7 basis points to 10.56%. The average interest rate on housing loans at a floating rate decreased by 14 basis points to 2.29%.

The average interest rate on corporate loans without a defined maturity decreased by 6 basis points to 4.29%. The corresponding rate on loans to sole proprietors remained almost unchanged at 6.61%.

In April 2021, the average interest rate on corporate loans with a defined maturity at a floating rate decreased by 59 basis points to 2.61%, whereas the volume of new business increased to €1,062 million from €569 million 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 3.13% from 3.22% in the previous month, while the volume of new business decreased to €344 million from €391 million in the previous month (see Chart and Table 1).

 

As regards to the structure of interest rates according to the size of the loans granted, the rate on loans of up to €250,000 decreased by 20 basis points to 4.31%, on loans of over €250,000 and up to €1 million remained almost unchanged at 3.09%, while on loans of over €1 million decreased by 45 basis points to 2.45%.

 

2.         Interest rates on outstanding amounts of euro-denominated deposits          and loans

Deposits                                                                                                                                       

The overall weighted average interest rate on outstanding amounts of all deposits (including overnight deposits) remained unchanged at 0.06%.

The average interest rate on outstanding amounts of deposits with an agreed maturity of up to 2 years placed by households remained almost unchanged at 0.15%; the corresponding rate on deposits placed by non-financial corporations remained also almost unchanged at 0.10%. 

Loans

The overall weighted average interest rate on outstanding amounts of all loans stood at 3.64% from 3.67% in the previous month.

In particular, the average interest rate on outstanding amounts of housing loans with over 5 years’ maturity remained unchanged at 2.01%. 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 remained almost unchanged at 6.57%; the corresponding rate on corporate loans remained also almost unchanged at 3.17% and the one on loans to sole proprietors stood at 4.24% from 4.22% in the previous month.

 

Table 1: Average interest rates on new euro-denominated deposits and loans (percentages per annum)

 

 

February

2021

March

2021

April

2021

DEPOSITS

Overnight from households

0.04

0.04

0.04

Overnight from non-financial corporations

0.02

0.02

0.02

From households with an agreed maturity of up to 1 year

0.18

0.16

0.16

Overall weighted average rate on all deposits

0.07

0.06

0.06

LOANS

Consumer without a defined maturity

14.63

14.64

14.61

Corporate without a defined maturity

4.34

4.35

4.29

To sole proprietors without a defined maturity

6.63

6.58

6.61

Housing at a floating rate

2.38

2.43

2.29

Consumer with a defined maturity at a floating rate

10.84

10.49

10.56

Corporate with a defined maturity at a floating rate:

2.73

3.20

2.61

-amounts of up to €250,000

4.70

4.51

4.31

-amounts of over €250,000 and up to €1 million

3.31

3.11

3.09

-amounts of over €1 million

2.45

2.90

2.45

Loans with a defined maturity to small and medium-sized enterprises at a floating rate

3.37

3.22

3.13

Overall weighted average rate on all loans

3.84

3.96

3.72

Interest rate spread

3.77

3.90

3.66

 

Table 2: Average interest rates on outstanding amounts of euro-denominated deposits and loans (percentages per annum)

 

 

February 2021

March

2021

April

2021

DEPOSITS

From households with an agreed maturity of up to 2 years

0.17

0.16

0.15

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

0.11

0.11

0.10

Overall weighted average rate on all deposits

0.07

0.06

0.06

LOANS

Housing with over 5 years’ maturity

2.01

2.01

2.01

Consumer and other loans to individuals and private non-profit institutions with over 5 years’ maturity

6.57

6.60

6.57

Corporate with over 5 years’ maturity

3.21

3.20

3.17

To sole proprietors with over 5 years’ maturity

4.24

4.22

4.24

Overall weighted average rate on all loans

3.69

3.67

3.64

Interest rate spread

3.62

3.61

3.58

 

Notes:

  1. 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.
  2. For the calculation of the overall weighted average interest rate on all outstanding deposits the overnight deposits are also taken into account.
  1. Loans at a floating rate comprise also loans with an initial rate fixation period of up to one year.
  1. New business refers to new contracts that were agreed during the reference month and not actual loan disbursements.

Further 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 on “Interest Rates on Bank Deposits and Loans” for May 2021 will be published on 5 July 2021, according to the Release calendar, as published on the Bank of Greece website.

 

Related links:

Bank deposit and loan interest rates

Release calendar

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