The Statistics Department of the Central Bank of Cyprus releases today the statistics on interest rates applied by monetary financial institutions in Cyprus on deposits and loans in euro for the reference month of May 2015. These statistics are presented in Tables 7, 8, 9 and 10 of the June 2015 edition of Monetary and Financial Statistics.
The main developments in interest rates on new loan and deposit contracts including existing contracts which were renegotiated, are summarised as follows:
Deposit Rates
· The interest rate on deposits from households with an agreed maturity of up to one year decreased to 1,65% compared with 1,75% in the previous month.
· The corresponding interest rate for deposits from non-financial corporations also recorded a decline falling to 1,63% compared with 1,72% in the previous month.
Lending Rates
· The interest rate on consumer credit fell to 4,27% compared with 4,84% in the previous month.
· The interest rate on loans for house purchase decreased to 3,46% compared with 3,68% in the previous month.
· The interest rate on loans to non-financial corporations for amounts up to €1 million recorded a decrease falling to 5,09% compared with 5,40% in the previous month. In contrast, the interest rate on loans to non-financial corporations for amounts over €1 million increased to 4,31% compared with 3,80% in the previous month.