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Statistics on Interest Rates applied by Monetary Financial Institutions

Friday, 5 January 2018

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 November 2017. These statistics are presented in Tables 7, 8, 9 and 10 of the December 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 summarized as follows:

Deposit Rates

  • The interest rate on deposits from households with an agreed maturity of up to one year recorded an increase to 1,22%, compared with 1,16% in the previous month.
  • The corresponding interest rate on deposits from non-financial corporations also rose to 1,38%, compared with 1,27% in the previous month.

 
Lending Rates

  • The interest rate on consumer credit registered a decline to 3,73%, compared with 4,40% in the previous month.
  • The interest rate on loans for house purchase recorded a decrease to 2,62%, compared with 2,75% in the previous month.
  • The interest rate on loans to non-financial corporations for amounts up to €1 million fell to 3,65%, compared with 3,81% in the previous month. The interest rate on loans to non-financial corporations for amounts over €1 million increased to 3,84%, compared with 3,42% in the previous month.