Press Releases

Interest Rates on Bank Deposits and Loans - November 2014

08/01/2015 - Press Releases

1. INTEREST RATES ON EURO-DENOMINATED NEW DEPOSITS AND LOANS

In November 2014, the overall weighted average interest rates on new deposits and on new loans decreased. The interest rate spread* between loan and deposit rates decreased by 19 basis points to stand at 3.94 percentage points (see Table 1).

The overall weighted average interest rate on all new deposits decreased by 4 basis points to stand at 1.19%. In particular, the average interest rate on overnight deposits from households decreased by 4 basis points to stand at 0.22%, while the corresponding rate from non-financial corporations remained unchanged at 0.25%. The average interest rate on deposits from households, with an agreed maturity of up to one year, decreased by 6 basis points to stand at 1.88%.

The overall weighted average interest rate on all new loans to households and corporations decreased by 23 basis points to stand at 5.13%.

In particular, the average interest rate on consumer loans without a defined maturity (a category which includes credit card debt, open account loans and overdrafts) remained unchanged at 14.48%. The average interest rate on consumer loans, with a defined maturity at a floating rate or with an initial rate fixation period of up to one year, decreased by 43 basis points to stand at 6.79%.

The average interest rates on corporate loans and loans to sole proprietors without a defined maturity remained almost unchanged at 6.56% and 8.24% respectively. The average interest rate on corporate loans with a defined maturity at a floating rate or with an initial rate fixation period of up to one year for loans up to €250,000 remained unchanged at 6.01%, for loans over €250,000 and up to €1 million decreased by 8 basis points to stand at 5.22%, and for loans above €1 million decreased by 44 basis points to stand at 5.19%. Finally, the average interest rate on housing loans at a floating rate or with an initial rate fixation period of up to one year decreased by 22 basis points to stand at 2.76%.

2. INTEREST RATES ON OUTSTANDING AMOUNTS OF EURO-DENOMINATED DEPOSITS AND LOANS

In November 2014, the overall weighted average interest rate on outstanding amounts of all deposits decreased, while the corresponding rate of all loans remained almost unchanged. The spread* between loan and deposit rates increased by 6 basis points to stand at 3.89 percentage points (see Table 2).

The overall weighted average interest rate on the outstanding amount of all deposits (including overnight deposits) decreased by 7 basis points to stand at 1.38%, while that on loans remained almost unchanged at 5.27%.

In particular, the average interest rate on outstanding amounts of deposits from households with an agreed maturity of up to 2 years decreased by 8 basis points to stand at 2.18%, while the corresponding rate on deposits from non-financial corporations decreased also by 8 basis points to stand at 2.04%. The average interest rate on outstanding amounts of housing loans with over 5 years’ maturity remained unchanged at 2.85%, the corresponding rate of corporate loans remained almost unchanged at 4.36%, while the rate on loans to sole proprietors increased by 21 basis points to stand at 5.55%.

Table 1: Average interest rates on new euro-denominated deposits and loans

 

 

 

September 2014

October 2014

November 2014

 

DEPOSITS

Overnight from households

0.26

0.26

0.22

 

Overnight from non-financial corporations

0.26

0.25

0.25

 

From households with an agreed maturity of up to 1 year

2.08

1.94

1.88

 

Overall weighted average rate on all deposits

1.32

1.23

1.19

 

LOANS

Consumer without a defined maturity

14.46

14.48

14.48

 

Corporate without a defined maturity 

6.66

6.58

6.56

 

To sole proprietors without a defined maturity

8.25

8.25

8.24

 

Consumer with a defined maturity at a floating rate or with an initial rate fixation period of up to 1 year

7.05

7.22

6.79

 

Corporate with a fixed maturity at a floating rate or with an initial rate fixation period of up to 1 year:      

 -loans up to an amount of €250,000

 -loans above €250,000 and up to € 1 million

 -loans above €1 million

6.06

5.38

5.12

6.01

5.30

5.63

6.01

5.22

5.19

 

Housing at a floating rate or with an initial rate fixation period of up to 1 year

3.11

2.98

2.76

 

Overall weighted average rate on all loans

5.21

5.36

5.13

 

  Interest rate spread*

3.89

4.13

3.94

Table 2: Average interest rates on outstanding amounts of euro-denominated deposits and loans

 

 

 

 

September 2014

October 2014

November 2014

 

DEPOSITS

From households with an agreed maturity of up to 2 years

2.37

2.26

2.18

 

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

2.25

2.12

2.04

 

Overall weighted average rate on all deposits**

1.52

1.45

1.38

 

LOANS

Housing with over 5 years’ maturity

2.87

2.85

2.85

 

Corporate with over 5 years’ maturity

4.39

4.38

4.36

 

To sole proprietors with over 5 years’ maturity

5.31

5.34

5.55

 

Overall weighted average rate on all loans

5.31

5.28

5.27

 

  Interest rate spread*

3.79

3.83

3.89

*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 this average rate the overnight deposits are also taken into account.

This website uses cookies for the optimization of you user experience. Learn More
I Accept