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Interest Rates on Bank Deposits and Loans: January 2018

05/03/2018 - Press Releases

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

In January 2018, the overall weighted average interest rate on new deposits remained unchanged, while the interest rate on new loans increased. The spread* between loan and deposit rate increased to 4.74 percentage points (see Table 1).

The overall weighted average interest rate on all new deposits remained unchanged at 0.29%. In particular, the average interest rate on overnight deposits placed by households remained almost unchanged at 0.09%, while the average interest rate on overnight deposits placed by non-financial corporations remained unchanged at 0.16%. The average interest rate on deposits from households with an agreed maturity of up to 1 year remained, also, almost unchanged at 0.61%.

The overall weighted average interest rate on all new loans to households and corporations increased by 12 basis points to 5.03%.

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 14.57%. The average interest rate on consumer loans with a defined maturity at a floating rate (1) increased by 84 basis points to 8.48%.

The average interest rate on corporate loans without a defined maturity remained almost unchanged at 5.36%. Τhe corresponding rate on loans to sole proprietors remained, also, almost unchanged at 6.96%. The average interest rate on corporate loans with a defined maturity at a floating rate increased by 51 basis points to 4.92%. In particular, the rate on loans of up to €250,000 increased by 29 basis points to 5.46%, on loans of over €250,000 and up to €1 million increased by 46 basis points to 4.99%, while the rate on loans of over €1 million increased by 48 basis points to 4.84%. Finally, the average interest rate on housing loans at a floating rate (1) decreased by 21 basis points to 2.78%.

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

In January 2018, the overall weighted average interest rate on the outstanding amounts of all deposits remained unchanged, while the corresponding rate on all loans remained almost unchanged. The spread* between loan and deposit rate remained almost unchanged at 4.16 percentage points (see Table 2).

In more detail, the overall weighted average interest rate on the outstanding amounts of all deposits (including overnight deposits) remained unchanged at 0.32%, while the corresponding rate on all loans remained almost unchanged at 4.48%.

In particular, the average interest rate on the outstanding amounts of deposits with an agreed maturity of up to 2 years placed by households remained unchanged at 0.62%. The average interest rate on the outstanding amounts of deposits with an agreed maturity of up to 2 years placed by non-financial corporations increased by 6 basis points to 0.93%. The average interest rate on the outstanding amounts of housing loans with over 5 years’ maturity remained almost unchanged at 2.34%. The average interest rate on the outstanding amounts of consumer loans  (2) with over 5 years’ maturity remained almost unchanged at 5.94%. The corresponding rate on corporate loans remained almost unchanged at 3.75%. The average interest rate on the outstanding amounts of loans to sole proprietors with over 5 years’ maturity decreased by 9 basis points to 4.77%.

 

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

 

 

November 2017

December 2017

January 2018

DEPOSITS

Overnight from households

0.10

0.10

0.09

Overnight from non-financial corporations

0.17

0.16

0.16

From households with an agreed maturity of up to 1 year

0.60

0.60

0.61

Overall weighted average rate on all deposits

0.29

0.29

0.29

LOANS

Consumer without a defined maturity

14.51

14.56

14.57

Corporate without a defined maturity

5.33

5.35

5.36

To sole proprietors without a defined maturity

6.98

6.99

6.96

Consumer at a floating rate1

8.58

7.64

8.48

Corporate with a fixed maturity at a floating rate1:

4.23

4.41

4.92

-amounts of up to €250.000

5.26

5.17

5.46

-amounts of over €250.000 and up to €1 million

4.49

4.53

4.99

-amounts of over €1 million

4.16

4.36

4.84

Housing at a floating rate1

2.67

2.99

2.78

Overall weighted average rate on all loans

4.79

4.91

5.03

Interest rate spread*

4.50

4.62

4.74

 

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

 

 

 

November 2017

December 2017

January 2018

 

DEPOSITS

From households with an agreed maturity of up to 2 years

0.62

0.62

0.62

 

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

0.82

0.87

0.93

 

Overall weighted average rate on all deposits**

0.32

0.32

0.32

 

LOANS

Housing with over 5 years’ maturity

2.35

2.35

2.34

 

Consumer with over 5 years’ maturity

6.00

5.95

5.94

 

Corporate with over 5 years’ maturity

3.73

3.73

3.75

 

To sole proprietors with over 5 years’ maturity

4.88

4.86

4.77

 

Overall weighted average rate on all loans

4.52

4.49

4.48

 

Interest rate spread*

4.20

4.17

4.16

 

*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 rate on all deposits the overnight deposits are also taken into account.



The complete data set of bank deposit and loan interest rates are published here.

Note: The next Press Release on “Interest Rates on Bank Deposits and Loans” for February 2018 will be published on 4 April 2018.

(1) Loans at a floating rate comprise also loans with an initial rate fixation period of up to one year.

(2) Including other loans to individuals and private non-profit institutions.

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