Interest Rates on Bank Deposits and Loans: May 2021
05/07/2021 - Press Releases
- The overall weighted average interest rate on new deposits remained unchanged at 0.06%, while the corresponding rate on new loans increased to 3.95%.
- The interest rate spread between new deposits and loans increased to 3.89 percentage points.
- The overall weighted average interest rate 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 remained almost unchanged 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 rate on overnight deposits placed by households remained unchanged at 0.04%, while the corresponding rate by non-financial corporations remained almost unchanged at 0.01%. The average interest rate on deposits from households with an agreed maturity of up to 1 year remained almost unchanged at 0.15% compared with the previous month.
New Loans
The overall weighted average interest rate on all new loans to households and non-financial corporations increased by 19 basis points to 3.95%.
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 13 basis points to 14.48%.
The average interest rate on consumer loans with a defined maturity at a floating rate increased by 28 basis points to 10.84%. The average interest rate on housing loans at a floating rate also increased by 32 basis points to 2.61%.
The average interest rate on corporate loans without a defined maturity remained almost unchanged to 4.28%. The corresponding rate on loans to sole proprietors remained almost unchanged at 6.59%.
In May 2021, the average interest rate on corporate loans with a defined maturity at a floating rate increased by 28 basis points to 2.90%. More specifically, the interest rate on loans with a defined maturity at a floating rate to small and medium-sized enterprises (SMEs) increased to 3.44% from 3.16% in the previous month.
As regards to the structure of interest rates according to the size of loans granted, the rate on loans of up to €250,000 remained almost unchanged at 4.51%, on loans of over €250,000 and up to €1 million increased by 17 basis points to 3.30%, while on loans of over €1 million also increased by 11 basis points to 2.56%.
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 0.14%; the corresponding rate on deposits placed by non-financial corporations remained unchanged at 0.10%.
Loans
The overall weighted average interest rate on outstanding amounts of all loans remained almost unchanged at 3.64%.
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 6.58%; the corresponding rate on corporate loans remained unchanged at 3.17%, while the rate on loans to sole proprietors decreased to 4.30% from 4.35% in the previous month.
Table 1: Average interest rates on new euro-denominated deposits and loans (percentages per annum)
| | | March 2021 | April 2021 | May 2021 |
| DEPOSITS | Overnight from households | 0.04 | 0.04 | 0.04 |
| Overnight from non-financial corporations | 0.02 | 0.02 | 0.01 |
| From households with an agreed maturity of up to 1 year | 0.16 | 0.16 | 0.15 |
| Overall weighted average rate on all deposits | 0.06 | 0.06 | 0.06 |
| LOANS | Consumer without a defined maturity | 14.64 | 14.61 | 14.48 |
| Corporate without a defined maturity | 4.35 | 4.29 | 4.28 |
| To sole proprietors without a defined maturity | 6.58 | 6.61 | 6.59 |
| Housing at a floating rate | 2.43 | 2.29 | 2.61 |
| Consumer with a defined maturity at a floating rate | 10.49 | 10.56 | 10.84 |
| Corporate with a defined maturity at a floating rate: | 3.26 | 2.62 | 2.90 |
| -amounts of up to €250,000 | 4.66 | 4.54 | 4.51 |
| -amounts of over €250,000 and up to €1 million | 3.19 | 3.13 | 3.30 |
| -amounts of over €1 million | 2.92 | 2.45 | 2.56 |
| Loans with a defined maturity to small and medium-sized enterprises at a floating rate | 3.27 | 3.16 | 3.44 |
| Overall weighted average rate on all loans | 4.02 | 3.76 | 3.95 |
| Interest rate spread | 3.96 | 3.70 | 3.89 |
| | | | | |
Table 2: Average interest rates on outstanding amounts of euro-denominated deposits and loans (percentages per annum)
| | | March 2021 | April 2021 | May 2021 |
| DEPOSITS | From households with an agreed maturity of up to 2 years | 0.16 | 0.15 | 0.14 |
| From non-financial corporations with an agreed maturity of up to 2 years | 0.11 | 0.10 | 0.10 |
| Overall weighted average rate on all deposits | 0.06 | 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 | 6.60 | 6.57 | 6.58 |
| Corporate with over 5 years’ maturity | 3.20 | 3.17 | 3.17 |
| To sole proprietors with over 5 years’ maturity | 4.32 | 4.35 | 4.30 |
| Overall weighted average rate on all loans | 3.68 | 3.65 | 3.64 |
| Interest rate spread | 3.62 | 3.59 | 3.58 |
Notes:
- 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 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.
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 June 2021 will be published on 2 August 2021, according to the Release calendar, as published on the Bank of Greece website.
Related links:
Bank deposit and loan interest rates
Release calendar