Interest Rates on Bank Deposits and Loans: December 2017

Τετάρτη, 07 Φεβρουαρίου 2018 23:11
 

1. INTEREST RATES ON EURO-DENOMINATED NEW DEPOSITS AND LOANS

In December 2017, the overall weighted average interest rate on new deposits remained unchanged, while the interest rate on new loans increased. The interest rate spread* between loan and deposit rates increased to 4.62 percentage points (see Table 1).

The overall weighted average interest rate on all new deposits remained unchanged at 0.29%. In particular, the average interest rate on overnight deposits placed by households remained unchanged at 0.10%, while the average interest rate on overnight deposits placed by non-financial corporations remained almost unchanged at 0.16%. The average interest rate on deposits from households with an agreed maturity of up to 1 year remained also unchanged at 0.60%.

The overall weighted average interest rate on all new loans to households and corporations increased by 12 basis points to 4.91%.

More specifically, the average interest rate on consumer loans without a defined maturity (a category which comprises credit cards, open account loans and overdrafts) increased by 5 basis points to 14.56%. The average interest rate on consumer loans with a defined maturity at a floating rate (1) decreased by 94 basis points to 7.64%.

The average interest rate on corporate loans without a defined maturity remained almost unchanged at 5.35%. Τhe corresponding rate on loans to sole proprietors remained, also, almost unchanged at 6.99%. The average interest rate on corporate loans with a defined maturity at a floating rate increased by 18 basis points to 4.41%. In particular, the rate on loans of up to €250,000 decreased by 9 basis points to 5.17%, on loans of over €250,000 and up to €1 million increased by 4 basis points to 4.53%, while the rate on loans of over €1 million increased by 20 basis points to 4.36%. Finally, the average interest rate on housing loans at a floating rate (1) increased by 32 basis points to 2.99%.

2. INTEREST RATES ON OUTSTANDING AMOUNTS OF EURO-DENOMINATED DEPOSITS AND LOANS

In December 2017, the overall weighted average interest rate on the outstanding amounts of all deposits remained unchanged, while the corresponding rate on all loans decreased marginally. The spread* between loan and deposit rates stood at 4.17 percentage points from 4.20 points in the previous month (see Table 2).

In more detail, the overall weighted average interest rate on the outstanding amounts of all deposits (including overnight deposits) remained unchanged at 0.32%, while the corresponding rate on all loans stood at 4.49%, compared with 4.52% in the previous month.

In particular, the average interest rate on the outstanding amounts of deposits with an agreed maturity of up to 2 years placed by households remained unchanged at 0.62%. The average interest rate on the outstanding amounts of deposits with an agreed maturity of up to 2 years placed by non-financial corporations increased by 5 basis points to 0.87%. The average interest rate on the outstanding amounts of housing loans with over 5 years’ maturity remained unchanged at 2.35%. The average interest rate on the outstanding amounts of consumer loans (2) with over 5 years’ maturity fell by 5 basis points to 5.95%. The corresponding rate on corporate loans remained unchanged at 3.73%. The average interest rate on the outstanding amounts of loans to sole proprietors with over 5 years’ maturity remained almost unchanged at 4.86%.


*The interest rate spread is the difference between the overall weighted average rate on all loans and the overall weighted average rate on all deposits.
**For the calculation of the overall weighted average rate on all deposits the overnight deposits are also taken into account.

The complete data set of bank deposit and loan interest rates are published on the website of the Bank of Greece and can be accessed via the following link:
http://www.bankofgreece.gr/Pages/en/Statistics/rates_markets/deposits.aspx