News Economy Deposits and loans interest rates fell in May

Deposits and loans interest rates fell in May

Both the deposits and loans interest rates fell in May with the exception of the interest rate on loans to non-financial corporations for amounts of over €1 million, according to data the Central Bank of Cyprus published on Friday.
 
In a press release, the Central Bank says “the interest rate on deposits from households with an agreed maturity of up to one year decreased to 1.65% compared with 1.75% in the previous month.”
 
“The corresponding interest rate for deposits from non-financial corporations also recorded a decline falling to 1.63% compared with 1.72% in the previous month.”
 
On the rates of loans the Central Bank press release says “the interest rate on consumer credit fell to 4.27% compared with 4.84% in the previous month.”
 
“The interest rate on loans for house purchase decreased to 3.46% compared with 3.68% in the previous month”, it adds.
 
The Central Bank continues, noting that “the interest rate on loans to non-financial corporations for amounts up to €1 million recorded a decrease falling to 5.09% compared with 5.40% in the previous month.”
 
In contrast, it says, “the interest rate on loans to non-financial corporations for amounts over €1 million increased to 4.31% compared with 3.80% in the previous month.”
 
Source: CNA 
 
Top