Statistical Press Release – Banking interest rates on new loans and deposits – April 2020
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 2020.
Interest rates on new loans
In April, the average interest rate on new loans granted to non-financial corporations decreased by 2 basis points (b.p.) to a new historical low of 2.08%.
The interest rate on operations above €1 million stood at 1.81% (1.68% in March) (Chart 1) and the interest rate on operations below €1 million at 2.29% (2.42% in March), a new historical low. The gap between the two rates narrowed from the previous month, reaching the lowest value since December 2018.
The average interest rate on new loans to households for house purchase rose by 1 b.p., to 1.03% (Chart 2). The average interest rate on loans for consumption reached a new historical low of 5.76%, while the interest rate on loans for other purposes stood at 3.26%. The rates for March were 6.67% and 3.67%, respectively.
The volumes of new loans for house purchase, consumption and other purposes totalled €831 million, €177 million and €131 million respectively (Chart 3).
Interest rates on new deposits
In April 2020, the average interest rate on new deposits with a maturity of up to one year of non-financial corporations stood at 0.06%, increasing by 1 b.p. from the previous month (Chart 4).
In the case of households, the average interest rate on new deposits stood unchanged at 0.07% (Chart 5).
Next update: 3 Jul. 2020