Interest rates

Interest rates of monetary financial institutions in the Czech Republic


August 2021

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%.

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