Statistical Press Release – Banking interest rates on new loans and deposits – February 2021
Interest rates on new loans
In February, the average interest rate on new loans granted to non-financial corporations decreased by 45 basis points (b.p.) to 1.71%. Credit lines associated with the COVID-19 pandemic may have contributed to this decrease.
The interest rate on operations below €1 million declined by 47 b.p. to 1.95% and the interest rate on operations above €1 million decreased by 42 b.p. to a new historical low of 1.28% (Chart 1).
The average interest rate on new loans to households for house purchase declined by 1 b.p. to 0.76%, for the seventh consecutive month (Chart 2).
The average interest rate on loans for consumption stood at 6.43% and the interest rate on loans for other purposes stood at 3.20%. The rates for January were 6.56% and 3.66%, respectively.
The volumes of new loans for house purchase, consumption and other purposes totalled €999 million, €284 million and €190 million respectively (Chart 3).
Interest rates on new deposits
In February 2021, the average interest rate on new deposits with a maturity of up to one year of non-financial corporations stood at 0.05%, increasing by 1 b.p. from the previous month (Chart 4).
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. to a new historical low of 0.06% (Chart 5).
Next update: 6 May 2021