Interest rates on bank deposits and loans: April 2022

By on June 2, 2022 0

02/06/2022 – Press releases

-The weighted average interest rate on new deposits remained unchanged at 0.04% in April 2022, while the weighted average interest rate on new loans increased to 4.14%.
-The interest rate differential between new deposits and loans increased to 4.10 percentage points.
-The weighted average interest rates on outstanding deposits and loans remained unchanged at 0.03% and 3.49% respectively.
-The interest rate differential between outstanding deposits and loans remained unchanged at 3.46 percentage points.

1. Interest rates on new deposits and loans denominated in euros

New deposits
The weighted average interest rate on new deposits remained unchanged at 0.04%.

In particular, the average interest rates on overnight deposits placed by households and by non-financial corporations remained unchanged at 0.02% and 0.00% respectively. The average interest rate on household deposits with a maturity of up to 1 year also remained unchanged from the previous month, at 0.13%.

New loans
The weighted average interest rate on new loans to households and non-financial corporations increased by 32 basis points to stand at 4.14%.

More specifically, the average interest rate for consumer loans with no defined maturity (a category that includes credit cards, revolving loans and overdrafts) fell by 7 basis points to 14.62%.

The average interest rate on variable-rate fixed-term consumer loans fell by 14 basis points to 11.05%. The average interest rate on variable rate mortgages fell by 4 basis points to 2.40%.

The average interest rate on new business loans with no defined maturity decreased by 6 basis points to 3.83%, while the corresponding rate on loans to individual entrepreneurs remained almost unchanged at 6.53%.

In April 2022, the average interest rate on variable-rate fixed-term corporate loans increased by 65 basis points to 3.49%. The interest rate on fixed-term variable-rate loans to small and medium-sized enterprises (SMEs) increased, compared to the previous month, by 37 basis points to 3.54%.

Regarding the structure of interest rates according to the size of the loans granted, the rate on loans up to €250,000 increased by 16 basis points to 4.68%, on loans over €250,000 € and up to €1 million decreased by 16 basis points to 3.39% and on loans above €1 million increased by 81 basis points to 3.44%.

2. Interest rates on outstanding deposits and loans denominated in euros

Deposits
The weighted average interest rate on outstanding deposits (including demand deposits) remained unchanged at 0.03%.

In particular, the average interest rate on outstanding deposits with a maturity of less than or equal to 2 years placed by households remained unchanged at 0.08%, while the corresponding rate on deposits from non-financial corporations remained almost unchanged. unchanged at 0.10%.

Loans
The weighted average interest rate on outstanding loans remained unchanged at 3.49%.

In particular, the average interest rate on outstanding real estate loans over 5 years and the corresponding rate on consumer and other loans to individuals and private non-profit institutions remained almost unchanged at 1.94 respectively. % and 6.34%. The average interest rate for business loans over 5 years remained unchanged at 3.01%, while the corresponding rate for loans to individual entrepreneurs remained almost unchanged at 4.25%.

Table 1: Average interest rates on new euro-denominated deposits and loans (percentages per year)

February

2022

March 2022

April 2022

DEPOSITS

Household overnight stay

0.02

0.02

0.02

Overnight of non-financial corporations

0.00

0.00

0.00

Households with an agreed maturity of up to 1 year

0.14

0.13

0.13

Weighted average rate on all deposits

0.04

0.04

0.04

LOANS

Consumer without defined maturity

14.69

14.69

14.62

Company without defined maturity

3.91

3.89

3.83

Individual entrepreneurs with no defined maturity

6.54

6.51

6.53

Variable rate housing

2.39

2.44

2.40

Consumer with a defined variable rate maturity

11:37

11.19

11.05

Corporate with defined maturity at variable rate:

2.60

2.84

3.49

– amounts up to €250,000

4.42

4.52

4.68

-amounts over €250,000 and up to €1 million

3.46

3.55

3.39

-amounts over 1 million euros

2.38

2.63

3.44

Variable Rate Small and Medium Business Fixed Term Loans

3.15

3.17

3.54

Weighted average rate on all loans

3.73

3.82

4.14

Interest rate spread

3.69

3.78

4.10

Table 2: Mediuminterestratesonexceptionalthe amountsof denominated in euros depositsandloans (percentages per year)

February

2022

March 2022

April 2022

DEPOSITS

Households with an agreed maturity of up to 2 years

0.09

0.08

0.08

From non-financial corporations with an agreed maturity of up to 2 years

0.10

0.11

0.10

Weighted average rate on all deposits

0.03

0.03

0.03

LOANS

Housing with more than 5 years of maturity

1.91

1.92

1.94

Consumer loans and others to individuals and private non-profit institutions with a duration of more than 5 years

6.31

6.32

6.34

Company with more than 5 years of maturity

3.01

3.01

3.01

To sole proprietors with a maturity of more than 5 years

4.23

4.24

4.25

Weighted average rate on all loans

3.51

3.49

3.49

Interest rate spread

3.48

3.46

3.46

Remarks:
1. The interest rate spread is the difference between the weighted average rate on all loans and the weighted average rate on all deposits.
2. For the calculation of the weighted average interest rate on all outstanding deposits, demand deposits are also taken into account.
3. Floating rate loans also include loans with an initial rate fixation period of up to one year.
4. New business refers to new contracts that were entered into during the reporting month and not actual loan disbursements.

Related information:
The full set of data on interest rates on bank deposits and loans is published in the subsection “Interest rates on bank deposits and loans” on the Bank of Greece website.

The next May 2022 press release will be published on July 5, 2022 according to the publication schedule on the Bank of Greece website.

Related links:

Bank deposit and loan interest rates

Release calendar