Deposit rates and rates for housing and consumer loans rise in August

Interest rates for deposits and rates for new housing and consumer loans rose in August, according to data released on Wednesday by the Central Bank of Cyprus.

According to the CBC, the interest rate on deposits from households with an agreed maturity of up to one year registered a marginal increase to 0.10%, compared with 0.09% in the previous month.

The respective interest rate on deposits from non-financial corporations rose to 0.16%, compared with 0.03% in the previous month.

Furthermore, the interest rate on consumer credit increased to 3.08%, compared with 2,90% in the previous month.

According to the CBC, the interest rate on loans for house purchase recorded a rise to 2.08%, compared with 2.05% in the previous month.

No change was recorded in the interest rates for new corporate loans.

The rate on loans to non-financial corporations for amounts up to €1 million remained unchanged at 3.20%, compared with the previous month, while the respective interest rate for loans to non-financial corporations for amounts over €1 million also remained unchanged at 3.05%, compared with the previous month, the CBC added.