Interest rates on bank deposits and loans: June 2022

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02/08/2022 – Press Releases

-The weighted average rate on new deposits remained almost unchanged at 0.03% in June 2022, while the weighted average rate on new loans increased to 3.98%.

-The interest spread between new deposits and loans increased to 3.95 percentage points.

-The weighted average interest rate on outstanding deposits remained unchanged at 0.03%, while the weighted average interest rate on outstanding loans remained almost unchanged at 3.48%.

-The interest spread between outstanding deposits and loans remained almost unchanged at 3.45 percentage points.

1. Interest rates for new deposits and loans denominated in euro

New deposits
The weighted average rate on new deposits remained almost unchanged at 0.03%.

In particular, the average interest rate on overnight deposits from households remained almost unchanged at 0.03%, while that for non-financial corporations remained unchanged at 0.00%. The average interest rate on deposits from households with an agreed maturity of up to 1 year also remained unchanged compared to the previous month at 0.12%.

New Loans
The weighted average interest rate on new loans to households and non-financial corporations increased by 13 basis points to 3.98%.

More specifically, the average interest rate on perpetual consumer loans (a category that includes credit cards, revolving loans and bank overdrafts) fell 8 basis points to 14.11%.

The average interest rate for consumer loans with a defined term and variable interest rate increased by 36 basis points to 11.36%. The average rate on adjustable rate home loans increased 32 basis points to 2.95%.

The average interest rate on new perpetual corporate loans remained almost unchanged at 3.80%. The corresponding interest rate on loans to sole proprietorships fell 6 basis points to 6.29%.

In June 2022, the average interest rate on floating-rate corporate loans increased by 12 basis points to 3.01%. The average interest rate on adjustable-rate loans to small and medium-sized enterprises (SMEs) decreased by 32 basis points to 3.25% from the previous month.

As for the structure of interest rates by the amount of loans granted, the average interest rate for loans up to €250,000 decreased by 17 basis points to 4.50%, for loans over €250,000 and up to €1 million it increased by 8 basis points to 3, 41% and on loans over €1 million up 31 basis points to 2.92%.

2. Interest rates on outstanding amounts of deposits and loans denominated in euro

insoles
The weighted average interest rate on outstanding deposits (including overnight deposits) remained unchanged at 0.03%.

In particular, the average interest rates on outstanding amounts on deposits by households and by non-financial corporations with an agreed maturity of up to two years also remained unchanged at 0.08% and 0.11% respectively.

loan
The weighted average interest rate on outstanding loans remained almost unchanged at 3.48%.

In particular, the average interest rate on outstanding home loans with a maturity of more than 5 years remained almost unchanged at 1.99%. The corresponding interest rate on consumer and other lending to individuals and non-profit institutions serving households rose 6 basis points to 6.34%.

The average interest rate on corporate loans with a maturity of more than 5 years rose 4 basis points to 3.03%, while the corresponding interest rate on loans to sole proprietorships remained unchanged at 4.20%.

Table 1: Average interest rates for new deposits and loans in euros (percentage per year)

April

2022

Can

2022

June 2022

DEPOSITS

Overnight stays by households

0.02

0.02

0.03

Overnight from non-financial corporations

0.00

0.00

0.00

From households with an agreed term of up to 1 year

0.13

0.12

0.12

Weighted average rate on all deposits

0.04

0.04

0.03

LOAN

Consumers without a defined term

14.62

14.19

14.11

Corporate without a defined term

3.83

3.77

3.80

To sole traders without a defined term

6.51

6.35

6.29

Housing at a variable interest rate

2.40

2.63

2.95

Consumers with a defined term at a variable interest rate

05/11

11.00

11.36

Corporate with a defined term at a variable interest rate:

3.49

2.89

3.01

-Amounts up to €250,000

4.67

4.67

4.50

-Amounts over €250,000 and up to €1 million

3.39

3.33

3.41

-Amounts over €1 million

3.44

2.61

2.92

Fixed-term loans to small and medium-sized enterprises at a variable interest rate

3.53

3.57

3.25

Weighted average interest rate for all loans

4.14

3.85

3.98

interest rate spread

4.10

3.81

3.95

table 2: AverageinterestPricesonterrificamountsfrom denominated in euros insolesandLoans (in percent per year)

April

2022

Can

2022

June 2022

DEPOSITS

From households with an agreed term of up to 2 years

0.08

0.08

0.08

From non-financial corporations with an agreed maturity of up to 2 years

0.10

0.11

0.11

Weighted average rate on all deposits

0.03

0.03

0.03

LOAN

Housing with a term of more than 5 years

1.94

1.96

1.99

Consumer loans and other loans to individuals and private non-profit organizations with a maturity of more than 5 years

6.34

6.28

6.34

Corporate with a term of more than 5 years

3.01

2.99

3.03

To sole traders with a term of more than 5 years

4.25

4.20

4.20

Weighted average interest rate for all loans

3.49

3.46

3.48

interest rate spread

3.46

3.43

3.45

Remarks:
1. Interest margin is the difference between the weighted average interest rate on all loans and the weighted average interest rate on all deposits.
2. When calculating the weighted average interest rate on all outstanding deposits, overnight deposits are also taken into account.
3. Floating rate loans include loans with an initial rate fixation period of up to one year.
4. New business refers to new contracts entered into during the reference month and not to actual loan disbursements.

Related information:
The full data set of interest rates on bank deposits and loans is published in the subsection “Interest rates on bank deposits and loans” on the Bank of Greece website.

The next press release for July 2022 will be published on September 1, 2022 according to the release calendar on the Bank of Greece’s website.

Similar links:

Bank deposits and interest on loans

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