Mixed trends in deposit and loan interest rates

Rates on deposits and loans followed mixed trends in November last year in the Cypriot banking system, data released by the Cyprus Central Bank, on Tuesday, show.

According to the official data, the interest rate on deposits from households with an agreed maturity of up to one year recorded an increase to 0.16%, compared with 0.12% in the previous month.

The corresponding interest rate on deposits from non-financial corporations registered a marginal decline to 0.30% compared with 0.31% in the previous month.

At the same time, the interest rate on consumer credit last November fell to 3.00%, compared with 3.03% in the previous month.

The interest rate on loans for house purchase increased to 2.10% compared with 2.08% in the previous month.

The interest rate on loans to non-financial corporations for amounts up to €1 million rose to 3.52%, compared with 3.08% in the previous month.

The interest rate on loans to non-financial corporations for amounts over €1 million fell to 2.91%, compared with 3.01% in the previous month.

Total new loans recorded a decrease to €203.8 million in November 2019, compared with €262.6 million in the previous month.

New consumer loans increased to €16.2 million compared with €15.7 million in the previous month.

New mortgages rose to €89.5 million compared with €77.9 million in the previous month.

New loans to non-financial corporations for amounts up to €1 million recorded an increase to €36.8 million in November compared with €35.1 million in the previous month.

New loans to non-financial corporations for amounts over €1 million registered a decline to €46.8 million, compared with €117.8 million in the previous month.