Interest rates

Statistics on interest rates applied by monetary financial institutions


The Central Bank of Cyprus today released statistics on the interest rates charged by monetary financial institutions in Cyprus on deposits and loans of euro area residents in euro, as well as data on volumes (amounts ) new loans denominated in euro to euro area residents for the reference month of November 2021. These statistics are included in the December 2021 edition of Monetary and financial statistics.

The main changes in interest rates on new deposit and credit contracts, including renegotiated contracts, can be summarized as follows:

Deposit rate

  • The interest rate on household deposits with a maturity of up to one year remained unchanged at 0.06% compared to the previous month.
  • The corresponding interest rate on deposits of non-financial corporations increased to 0.05%, from 0.04% in the previous month.

Loan rate

  • The interest rate on consumer loans fell to 2.97%, from 3.08% the previous month.
  • The interest rate on home loans fell to 2.13% from 2.17% the previous month.
  • The interest rate on loans to non-financial corporations for amounts up to € 1 million fell to 3.24%, from 3.26% the previous month. The interest rate on loans to non-financial corporations exceeding € 1 million fell to 2.59%, from 2.83% in the previous month.

New loan amounts
Total new loans increased to 352.5 million euros in November 2021, from 314.3 million euros the previous month. The main categories of new loans are analyzed below:

  • New consumer loans increased to 14.4 million euros, compared to 12.7 million euros the previous month.
  • New housing loans amounted to 113.2 million euros compared to 105.2 million euros the previous month.
  • New loans to non-financial corporations for amounts below 1 million euros increased to 51.5 million euros, compared to 48.8 million euros in the previous month.
  • New loans to non-financial corporations for amounts over 1 million euros increased to 167.2 million euros, compared to 125.4 million euros the previous month.

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Central Bank of Cyprus published this content on 05 January 2022 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on 05 January 2022 09:57:07 AM UTC.