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 April 2015. These statistics relate to new loan and deposit contracts as well as existing contracts which were renegotiated, which are presented in Tables 7, 8, 9 and 10 of the May 2015 edition of Monetary and Financial Statistics.
The main developments are summarised as follows:
Deposit Rates
· The interest rate on deposits from households with an agreed maturity of up to one year increased marginally to 1,75% compared with 1,73% in the previous month.
· The corresponding interest rate for deposits from non-financial corporations also recorded an increase to 1,72% compared with 1,57% in the previous month.
Lending Rates
· The interest rate on consumer credit rose to 4,84% compared with 4,69% in the previous month.
· The interest rate on loans for house purchase declined to 3,68% compared with 3,76% in the previous month.
· The interest rate on loans to non-financial corporations for amounts over €1 million decreased to 3,80% compared with 4,28% in the previous month.