Statistical Press Release – Banking interest rates on new loans and deposits – January 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 January 2020.
Interest rates on new loans
In January the average interest rate on new loans granted to non-financial corporations was 2.30% (2.12% in December).
The interest rate on operations above €1 million stood at 1.88% (1.85% in December) (Chart 1) and the interest rate on operations below €1 million at 2.59% (2.42% in December), widening the gap between the two rates compared to the previous month.
The average interest rate on new loans to households for house purchase decreased by 3 basis points (b.p.), to 1.07% (Chart 2). The average interest rates on loans for consumption and other purposes were 6.95% and 3.80% respectively, i.e. above 6.55 % and 3.74 %, as recorded in December.
The volumes of new loans for house purchase, consumption and other purposes totalled €977 million, €460 million and €215 million respectively.
Interest rates on new deposits
In January 2020 the average interest rate on new deposits with a maturity of up to one year of non-financial corporations increased by 1 b.p. to 0.07% (Chart 3).
In the case of households, the average interest rate on new deposits with a maturity of up to one year was 0.07% (Chart 4), unchanged from December.
Next update: 14 Apr. 2020