2024-10-02 22:52:29
Weighted means interest rates of young people deposits and loans remained almost unchanged at 0.54% and 5.84% respectively in August, according to data from Bank of Greece (BoG).
The spread between new deposits and loans was almost unchanged at 5.30 percentage points.
In August 2024, the weighted average interest rate on all outstanding deposits remained unchanged at 0.53%, while the corresponding interest rate on loans remained almost unchanged at 6.06%.
The interest rate spread between existing deposits and loans remained almost unchanged at 5.53 percentage points.
Interest rates on new deposits and loans in euros
New Deposits
In more detail, the weighted average interest rate on all new deposits stood at 0.54% in August 2024 from 0.57% in the previous month.
In particular, the average interest rate on overnight deposits from households remained almost unchanged at 0.04%, while the corresponding interest rate on corporate deposits decreased by 4 basis points to 0.16%.
The average interest rate on deposits with an agreed term of up to 1 year from households remained almost unchanged at 1.88%, while the corresponding interest rate on corporate deposits decreased by 13 basis points to 2.98%.
New Loans
The weighted average interest rate of all new loans to households and businesses remained almost unchanged at 5.84%.
In particular, the average interest rate on consumer loans without a fixed term (category that includes loans through credit cards, open loans and overdrafts from current accounts) remained unchanged at 14.93%.
The average interest rate on consumer loans with a fixed term and floating rate increased by 10 basis points to 12.44%, while the average interest rate on mortgage loans with a variable rate increased by 4 basis points to 4.46%.
The average interest rate on business loans without a fixed term decreased by 5 basis points to 6.43%. The corresponding interest rate on professional loans decreased by 8 basis points and stood at 7.40%.
The average interest rate on new fixed-term and variable-rate business loans decreased by 4 basis points to 5.58%. The average interest rate on regular maturity loans with a variable interest rate to small and medium enterprises (SMEs) decreased by 24 basis points and stood at 5.67%.
Regarding the structure of interest rates in terms of the amount of the loan, it is noted that the average interest rate for loans up to 250,000 euros decreased by 8 basis points to 5.81%, for loans from 250,001 to 1 million euros it decreased by 28 basis points and stood at 5.64%, while for loans over 1 million euros it decreased by 6 basis points and stood at 5.53%.
Interest rates on existing deposit and loan balances in euros
Existing Deposits
The weighted average rate of total outstanding deposits (including overnight deposits) remained unchanged at 0.53% from the previous month.
In particular, the average interest rate on the existing balances of deposits from households with an agreed duration of up to two years remained unchanged at 1.85%, while the corresponding interest rate on deposits from businesses decreased by 6 basis points and stood at 2.89%.
Existing Loans
The weighted average interest rate on existing loans remained almost unchanged at 6.06%.
In particular, the average interest rate on existing mortgage loan balances with a duration of more than 5 years remained almost unchanged at 4.32%. The corresponding interest rate of consumer and other loans to individuals and private non-profit institutions remained unchanged at 8.37%.
The average interest rate on business loans with a duration of more than 5 years decreased by 5 basis points and stood at 5.87%. The corresponding interest rate on business loans also decreased by 5 basis points to 6.72%.