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Bank of Greece-Interest Rates on Bank Deposits and Loans: November 2021

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Written by Publishing Team

The weighted average interest rate on new deposits remained unchanged at 0.05% in November 2021While the weighted average interest rate on new loans decreased to 3.73%.

The interest rate differential between new deposits and loans decreased to 3.68 percentage points.

The weighted average interest rates on outstanding amounts of deposits and loans remained unchanged at 0.04% and 3.51%, respectively.

The interest rate differential between outstanding amounts of deposits and loans remained unchanged at 3.47 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 0.05%.

In particular, the average overnight deposit rates set by households and non-financial firms remained unchanged at 0.03% and 0.00%, respectively. The average interest rate on deposits from households with an agreed maturity of one year remained unchanged at 0.14% compared to the previous month.

new loans

The weighted average interest rate on new loans to households and non-financial businesses fell 21 basis points to 3.73%.

More specifically, the average interest rate on consumer loans with no fixed maturity (a category that includes credit cards, revolving loans and overdrafts) remained virtually unchanged at 14.50%.

The average floating rate fixed-maturity consumer loan rate remained virtually unchanged at 11.42%. The average interest rate on variable rate housing loans also remained unchanged at 2.41%.

The average interest rate on new corporate loans with no maturities decreased by 11 basis points to 4.02%, while the corresponding rate on loans to individual owners remained virtually unchanged at 6.47%.

in a November 2021The average interest rate on fixed-maturity corporate loans at a variable rate declined 29 basis points to 2.56% from 2.85% in the previous month. The interest rate on floating rate loans with fixed maturity for small and medium-sized enterprises increased to 3.29% from 3.16% in the previous month.

Regarding the structure of interest rates by the volume of loans granted, the interest rate on loans is up to €250,000 It remained almost unchanged at 4.39%, on loans more than €250,000 and up to million euros It decreased by 18 basis points to 3.18%, while on loans by more than million euros It fell 35 basis points to 2.38%.

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

deposit

The weighted average interest rate on outstanding amounts of deposits (including overnight deposits) remained unchanged at 0.04%.

In particular, the average interest rates on outstanding amounts of deposits with an agreed maturity of up to two years set by households and non-financial corporations remained virtually unchanged at 0.10% and 0.07%, respectively.

loans

The weighted average interest rate on outstanding amounts of loans remained unchanged at 3.51%.

In particular, the average interest rates on receivables from housing loans, as well as on consumer and other loans to individuals and private non-profit organizations with a term of more than 5 years, remained almost unchanged at 1.91% and 6.41%, respectively. The average interest rate on corporate loans also remained almost unchanged at 3.09%, while the corresponding rate on loans to individual owners remained unchanged at 4.29%.

Table 1: Average interest rates on new deposits and loans denominated in euros (annual percentages)

September 2021

October 2021

November 2021

deposit

Overnight captivity

0.03

0.03

0.03

Overnight from non-financial companies

0.01

0.00

0.00

From families with an agreed maturity of up to one year

0.14

0.14

0.14

Weighted average rate on all deposits

0.05

0.05

0.05

loans

Consumer without definite maturity

14.28

14.48

14.50

A company without a fixed maturity date

4.25

4.13

4.02

For the sole proprietor without specifying maturity

6.49

6.49

6.47

Floating Price Housing

2.33

2.43

2.41

A consumer with a fixed maturity date at a floating rate

11.29

11.39

11.42

A company with a fixed maturity date at a floating rate:

2.51

2.85

2.56

Quantities up to €250,000

4.35

4.36

4.39

Quantities increase €250,000 and up to million euros

3.28

3.36

3.18

Quantities increase million euros

2.41

2.73

2.38

Loans with fixed maturity dates for small and medium-sized enterprises at a floating rate

3.24

3.16

3.29

Weighted average interest rate on all loans

3.77

3.94

3.73

interest rate spread

3.72

3.89

3.68

Table 2: Average interest rates on Euro deposits and loans receivable (percentages per year)

September 2021

October 2021

November 2021

deposit

From families with an agreed benefit of up to two years

0.11

0.10

0.10

From non-financial companies with an agreed maturity of up to two years

0.07

0.07

0.07

Weighted average rate on all deposits

0.04

0.04

0.04

loans

Residence with more than 5 years

2.02

1.92

1.91

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

6.61

6.40

6.41

A company with a maturity of more than 5 years

3.12

3.10

3.09

For the sole proprietor with a maturity of more than 5 years

4.30

4.29

4.29

Weighted average interest rate on all loans

3.57

3.51

3.51

interest rate spread

3.53

3.47

3.47

Notes:

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

To calculate the weighted average interest rate on all outstanding deposits, overnight deposits are also taken into account.

Variable rate loans also include loans with an initial rate fixing period of up to one year.

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

Related information:

The full data set of interest rates on bank deposits and loans is published in the subsection of interest rates on deposits and bank loans in Bank of Greece website.

. next press release December 2021 It will be published in February 3, 2022, according to the version calendar, as published in Bank of Greece website.

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