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Statistical Press Release – Banking interest rates on new loans and deposits – January 2021

Today, Banco de Portugal publishes, in BPstat, statistics on banking interest rates on new loans and deposits of non-financial corporations and households for January of 2021.

Interest rates on new loans

 In January, the average interest rate on new loans granted to non-financial corporations increased by 17 basis points (b.p.) to 2.16% 

The interest rate on operations below €1 million rose by 13 b.p. to 2.42% and the interest rate on operations above €1 million rose by 3 b.p. to 1.70% (Chart 1).

The average interest rate on new loans to households for house purchase declined by 3 b.p. to a new historical low of 0.77%, for the sixth consecutive month (Chart 2).

The average interest rate on loans for consumption stood at 6.56% and the interest rate on loans for other purposes stood at 3.66%. The rates for December were 6.09% and 2.97%, respectively.

The volumes of new loans for house purchase, consumption and other purposes totalled €968 million, €281 million and €137 million respectively (Chart 3).

Interest rates on new deposits

In January 2021, the average interest rate on new deposits with a maturity of up to one year of non-financial corporations stood at 0.04%, increasing by 2 b.p. from the previous month (Chart 4).

In the case of households, the average interest rate on new deposits increased by 1 b.p. to 0.07% (Chart 5).

Next update: 31 Mar. 2021