Interest Rates on Bank Deposits and Loans: June 2012
01/08/2012 - Press Releases
1. INTEREST RATES ON NEW EURO-DENOMINATED DEPOSITS AND LOANS
In June 2012 the overall average interest rate on new deposits and the corresponding rate on new corporate loans increased, while the average interest rates on housing and consumer loans as well as on loans to sole proprietors decreased (see Table 1).
More specifically, in June 2012, the average interest rate on overnight deposits from households remained unchanged at 0.48% as did the corresponding rate on deposits from non-financial corporations which stood at 0.46%. On the contrary, the average interest rate on deposits from households with an agreed maturity of up to 1 year, increased by 10 basis points to 5.00%. The overall average interest rate on all new deposits slightly increased by 3 basis points to 2.94%.
In the case of loans, the average interest rate on consumer loans without a defined maturity (a category which includes credit card debt, open account loans and debit balances on current accounts) decreased slightly by 5 basis points in June 2012, to 14.96%. 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 also decreased by 11 basis points to 8.16% in June 2012, from 8.27% in the previous month.
The average interest rate on corporate loans without a defined maturity remained unchanged at 7.69% while the corresponding rate on loans to sole proprietors decreased by 5 basis points to 10.27%. 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 decreased by 5 basis points to 7.47% for loans up to EUR 250,000, decreased by 13 basis points to 6.55% for loans above EUR 250,000 and up to EUR 1 million but increased significantly by 71 basis points to 6.55% for loans above EUR 1 million. Finally, the average interest rate on housing loans at a floating rate or with an initial fixation period of up to one year decreased by 12 basis points to 3.42%. Given, however, the large increase in the average rate of corporate loans, the overall average interest rate on all new loans to households and corporations increased, in June 2012, by 9 basis points to 6.27%.
2. INTEREST RATES ON OUTSTANDING AMOUNTS OF EURO-DENOMINATED DEPOSITS AND LOANS
In June 2012 the overall average interest rate on outstanding amounts of all deposits remained almost unchanged while the corresponding rate on all loans slightly decreased (see Table 2).
In particular, in June 2012, the average interest rate on outstanding amounts of deposits from households with an agreed maturity of up to 2 years increased by 4 basis points to 4.71% while the corresponding rate on deposits from non-financial corporations remained unchanged at 4.49%. The average interest rate on outstanding amounts of loans with over five years’ maturity remained unchanged at 3.47% for housing loans, decreased by 6 basis to 4.92% for corporate loans and increased by 3 basis points to 6.26% for loans to sole proprietors.
The overall average interest rate on all deposits (including overnight deposits) remained almost unchanged at 2.80% while the corresponding rate on all loans slightly decreased by 3 basis points to 6.10%.
Table 1: Average interest rates on new euro-denominated deposits and loans
|
|
|
April 2012
|
May 2012
|
June 2012
|
|
DEPOSITS
|
Overnight from households
|
0.47
|
0.48
|
0.48
|
|
Overnight from non-financial corporations
|
0.47
|
0.46
|
0.46
|
|
From households with an agreed maturity of up to 1 year
|
4.96
|
4.90
|
5.00
|
|
Overall average rate on all deposits
|
2.92
|
2.91
|
2.94
|
|
LOANS
|
Consumer without a defined maturity
|
15.08
|
15.01
|
14.96
|
|
Corporate without a defined maturity
|
7.78
|
7.69
|
7.69
|
|
To sole proprietors without a defined maturity
|
10.35
|
10.32
|
10.27
|
|
Consumer with a defined maturity at a floating rate or with an initial fixation period of up to 1 year
|
8.34
|
8.27
|
8.16
|
|
Corporate with a fixed maturity at a floating rate or with an initial fixation period of up to 1 year rate:
-loans up to an amount of EUR 250,000
-loans above EUR 250,000 and up to EUR 1 million
-loans above EUR 1 million
|
7.57
6.45
6.23
|
7.52
6.68
5.84
|
7.47
6.55
6.55
|
|
Housing at a floating rate or with an initial fixation period of up to 1 year
|
3.55
|
3.54
|
3.42
|
|
Overall average rate on all loans
|
6.32
|
6.18
|
6.27
|
Table 2: Average interest rates on outstanding amounts of euro-denominated deposits and loans
|
|
|
April 2012
|
May 2012
|
June 2012
|
|
DEPOSITS
|
From households with an agreed maturity of up to 2 years
|
4.65
|
4.67
|
4.71
|
|
From non-financial corporations with an agreed maturity of up to 2 years
|
4.69
|
4.49
|
4.49
|
|
Overall average rate on all deposits*
|
2.84
|
2.79
|
2.80
|
|
LOANS
|
Housing with over 5 years’ maturity
|
3.49
|
3.47
|
3.47
|
|
Corporate with over 5 years’ maturity
|
5.21
|
4.98
|
4.92
|
|
To sole proprietors with over 5 years’ maturity
|
6.28
|
6.23
|
6.26
|
|
Overall average rate on all loans
|
6.20
|
6.13
|
6.10
|
*For the calculation of this average rate the overnight deposits are also taken into account