Interest rate on new business
Interest rates on new household deposits recorded the largest change for deposits maturing in August. Similar changes were recorded for non-financial corporations.
The interest rate on household deposits at agreed maturity rose 0.19 percentage point to 0.65%. At 0.09%, the interest rate on demand deposits was unchanged from February. The interest rate on current account deposits remained at its May level of 0.04%. The interest rate on deposits redeemable at notice also remained unchanged at 1.12% (the only rate to include, besides the household sector, similar deposits from non-financial corporations, which are negligible in this category).
The rate on deposits of non-financial corporations at agreed maturity rose by 0.18 percentage point to 0.49%. The interest rate on demand deposits rose slightly to 0.05%. The interest rate on current account deposits also increased, reaching 0.04%. Deposits with agreed maturities of up to one year (which typically represent 100% of all deposits with agreed maturities in the case of this sector) were remunerated at a higher rate (0.49%).
Commercial bank interest rates on CZK deposits held by Czech residents – new business
Among interest rates on new loans to households, loans to building societies experienced the largest change in August. Interest rates on loans to non-financial corporations recorded the largest variation for loans above CZK 30 million.
The overall interest rate on consumer loans, home loans and other loans amounted to 3.34%. The interest rate on consumer loans increased month-on-month to 7.67%. The home loan rate recovered to 2.35%. Loans to the construction company were remunerated at 3.97%, up 0.43 percentage point. The interest rate on mortgages rose to 2.27%, up 0.10 percentage points from a year earlier. The interest rate on other loans increased to 3.04%. The interest rate on credit cards has fallen to 17.48%. The interest rate on overdrafts and revolving credits is 12.03%.
Interest rates on new loans to non-financial corporations (excluding overdrafts, revolving credits and credit cards) increased to 2.09%. The rate of loans up to CZK 7.5 million was 3.65%. The rate for loans over CZK 7.5 million and up to CZK 30 million has increased to 2.69% and the rate for new loans over CZK 30 million has increased by 0.58 percentage point to reach 1.92%. The interest rate on overdrafts, revolving credits and credit card loans reached 2.77%. The interest rate on overdrafts was unchanged at 2.95%.
Commercial bank interest rate on CZK loans to Czech residents – new business
Interest rate on outstanding amounts
Average interest rates on household deposits remained unchanged in August, while rates on deposits from non-financial corporations saw larger variations.
Average changes in interest rates on outstanding household loans were only a few basis points in August. Interest rates on outstanding loans to non-financial corporations showed larger variations.
The overall interest rate on loans to households edged down to 3.27%. The interest rate on home loans was unchanged from July at 2.40% (the rate on outstanding mortgages falling to 2.25%), the rate on consumer loans fell to 8.33% and the rate on other loans increased slightly to 3.31%.
The average interest rate on loans to non-financial corporations was 2.76%. The rate for loans with a term of one year or less has risen to 2.76%. The rate for loans over one year and up to five years has increased to 3.09%. The rate for loans for more than five years rose to 2.64%.