The Central Bank of Cyprus has today released the statistics on interest rates applied by monetary financial institutions in Cyprus on deposits and loans in euro for the reference month of February 2017. These statistics are presented in Tables 7, 8, 9 and 10 of the March 2017 edition of Monetary and Financial Statistics.
The main developments in interest rates on new deposit and loan contracts, including 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 recorded a decrease to 1,32%, compared with 1,51% in the previous month.
- The corresponding interest rate on deposits from non-financial corporations fell to 1,36%, compared with 1,41% in the previous month.
Lending Rates
- The interest rate on consumer credit decreased to 3,49%, compared with 4,05% in the previous month.
- The interest rate on loans for house purchase remained unchanged at 2,93%, compared with the previous month.
- The interest rate on loans to non-financial corporations for amounts up to €1 million registered a decrease to 3,95%, compared with 4,02% in the previous month. The interest rate on loans to non-financial corporations for amounts over €1 million recorded a decline to 3,16%, compared with 3,30% in the previous month.