In April 2024, the weighted average interest rate on new deposits remained unchanged at 0.53%, while the corresponding rate on loans decreased to 5.98%.

The interest rate spread between new deposits and loans decreased to 5.45 percentage points.

In April 2024, the weighted average interest rate on outstanding amounts of deposits remained almost unchanged at 0.55%, while the corresponding rate on loans decreased to 6.27%.

The interest rate spread between outstanding amounts of deposits and loans decreased to 5.72 percentage points.

1. Interest rates on euro-denominated new deposits and loans

New Deposits

The weighted average interest rate on new deposits remained unchanged at 0.53%, compared to the previous month.

In particular, the average interest rate on overnight deposits placed by households remained unchanged at 0.03%, while the corresponding rate on deposits by non-financial corporations remained almost unchanged at 0.16%.

The average interest rate on deposits from households with an agreed maturity up to 1 year increased by 6 basis points to 1.83%, while the corresponding rate on deposits from non-financial corporations remained almost unchanged at 3.19%.

New Loans

The weighted average interest rate on new loans to households and non-financial corporations decreased by 26 basis points to 5.98%.

More specifically, the average interest rate on consumer loans without a defined maturity (a category that comprises credit cards, revolving loans and overdrafts) decreased by 11 basis points to 15.07%.

The average interest rate on consumer loans with a defined maturity at a floating rate decreased by 21 basis points to 11.61%, while the average interest rate on housing loans at a floating rate increased by 10 basis points to 5.11%.

The average interest rate on corporate loans without a defined maturity decreased by 5 basis points to 6.69%. The corresponding rate on loans to sole proprietors remained almost unchanged at 7.67%.

The average interest rate on new corporate loans with a defined maturity at a floating rate decreased by 27 basis points to 5.95%. The average interest rate on loans with a defined maturity at a floating rate to small and medium-sized enterprises (SMEs) increased by 5 basis points to 6.15%.

As regards the structure of interest rates according to the size of loans granted, the average rate on loans of up to EUR250,000 increased by 49 basis points to 5.90%, on loans of over EUR250,000 and up to EUR1 million it increased by 8 basis points to 6.08%, while on loans of over EUR1 million it decreased by 30 basis points to 5.94%.

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

Deposits

The weighted average interest rate on outstanding amounts of deposits (including overnight deposits) remained almost unchanged at 0.55% compared to the previous month.

In particular, the average interest rates on outstanding amounts of deposits with an agreed maturity of up to 2 years placed by households and non-financial institutions remained almost unchanged at 1.83% and 3.03% respectively.

Loans

The weighted average interest rate on outstanding amounts of loans decreased by 5 basis points to 6.27%.

In particular, the average interest rate on outstanding amounts of housing loans with over 5 years' maturity remained unchanged at 4.40%. The corresponding rate on consumer and other loans to individuals and private non-profit institutions increased by 6 basis points to 8.33%.

The average interest rate on corporate loans with over 5 years' maturity decreased by 9 basis points to 6.17%. The corresponding rate on loans to sole proprietors decreased by 5 basis points to 6.88%.

Table 1: Average interest rates on new euro-denominated deposits and loans (percentages per annum)

Table 2: Average interest rates on outstanding amounts of euro-denominated deposits and loans (percentages per annum)

Notes:

The interest rate spread is the difference between the weighted average rate on loans and the weighted average rate on deposits.

For the calculation of the weighted average interest rate on all outstanding deposits, the overnight deposits are also taken into account.

Loans at a floating rate comprise also loans with an initial rate fixation period of up to one year.

New business refers to new contracts that were agreed during the reference month and not actual loan disbursements.

Related information:

The complete data set of bank deposit and loan interest rates is published in the sub-section 'Bank deposit and loan interest rates' on the Bank of Greece website.

The next Press Release for May 2024 will be published on 4 July 2024 according to the Advance release calendar on the Bank of Greece website.

(C) 2024 Electronic News Publishing, source ENP Newswire