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

Interest rates on new loans

In February, the average interest rate on new loans granted to non-financial corporations was 2.42% (2.41% in January). 

Interest rates on operations above €1 million and on operations below €1 million stood at 1.92% and 2.71% respectively (Chart 1), closing the gap between them from the previous month.

The average interest rate on new loans to households for house purchase decreased by 3 basis points (b.p.) to 1.37% (Chart 2). The average interest rates on loans for consumption and other purposes were 7.23% and 4.06% respectively.

The volumes of new loans for house purchase, consumption and other purposes totalled €734 million, €365 million and €163 million respectively.

Interest rates on new deposits

In February 2019 the average interest rate on new deposits with a maturity of up to one year of non-financial corporations stood at 0.11%, decreasing by 1 b.p. from the previous month (Chart 3). In the case of households, the average interest rate on new deposits with a maturity of up to one year decreased by 1 b.p., standing at 0.13% (Chart 4), accounting for a new historical low.

Next update: 14 May 2019