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Statistical Press Release - Banking interest rates on new loans and deposits - April 2019

Today, Banco de Portugal publishes statistics, in Table A.10 of the Statistical Bulletin and in BPstat, on banking interest rates on new loans and deposits of non-financial corporations and households for April 2019.

Interest rates on new loans

In April, the average interest rate on new loans granted to non-financial corporations was 2.40% (2.29% in March).

The interest rate on operations above €1 million stood at 1.99% (Chart 1) and the interest rate on operations below €1 million at 2.66%, narrowing the gap between the two rates compared with the previous month.

The average interest rate on new loans to households for house purchase decreased by 3 basis points (b.p.) to 1.33%, accounting for a new historical low (Chart 2). The average interest rates on loans for consumption and other purposes were 7.13% and 3.85% respectively.

The volumes of new loans for house purchase, consumption and other purposes totalled €804 million, €363 million and €159 million respectively.

Interest rates on new deposits

In April 2019 the average interest rate on new deposits with a maturity of up to one year of non-financial corporations stood at 0.09%, decreasing by 1 b.p. from the previous month and reaching a new historical low (Chart 3). In the case of households, the average interest rate on new deposits with a maturity of up to one year remained at 0.12% (Chart 4).

Next update: 9 Jul. 2019