Statistical Press Release - Banking interest rates on new loans and deposits – July 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 July 2019.
Interest rates on new loans
In July the average interest rate on new loans granted to non-financial corporations was 2.22% (2.26% in June).
The interest rate on operations above €1 million stood at 1.89% (Chart 1) and the interest rate on operations below €1 million at 2.49% (a new historical low), narrowing the gap between the two rates compared with the previous month.
The average interest rate on new loans to households for house purchase decreased by 7 basis points (b.p.) to 1.26% (Chart 2), also a new historical low. The average interest rates on loans for consumption and other purposes were 7.00% and 4.21% respectively.
The volumes of new loans for house purchase, consumption and other purposes totalled €967 million, €515 million and €183 million respectively. The amount of new loans for consumption corresponds to a record high.
Interest rates on new deposits
In July 2019 the average interest rate on new deposits with a maturity of up to one year of non-financial corporations stood at 0.12%, increasing by 3 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 dropped to a historical low, of 0.11% (Chart 4).
Next update: 8 Oct. 2019