The Statistics Department of the Central Bank of Cyprus releases today the interest rate statistics for monetary financial institutions in Cyprus on deposits and loans in euro for the reference month of March 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 April 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 continued its downward trend falling to 1,73% compared with 2,30% in the previous month.
- In parallel, the corresponding interest rate for deposits from non-financial corporations recorded a decrease for the second consecutive month to 1,57% compared with 2,26% in the previous month.
Lending Rates
- The majority of interest rate categories regarding loans to households registered significant declines.
- The interest rate on consumer credit decreased for the third consecutive month to 4,69% compared with 5,19% in the previous month.
- The interest rate on loans for house purchase fell to 3,76% compared with 4,45% in the previous month.
- The interest rate on loans to non-financial corporations for amounts over €1 million recorded a decrease to 4,28% compared with 5,00% in the previous month.