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Statistical Press Release – Banking interest rates on new loans and deposits – July 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 July 2020.

Interest rates on new loans

In July, the average interest rate on new loans granted to non-financial corporations increased by 26 basis points (b.p.) to 1.99%.

The interest rate on operations above €1 million stood at 1.88% (1.59% in June) (Chart 1) and the interest rate on operations below €1 million at 2.06% (1.83% in June). 

The average interest rate on new loans to households for house purchase declined by 7 b.p., to 1.09% (Chart 2). The average interest rate on loans for consumption stood at 6.54% and the interest rate on loans for other purposes stood at 3.19%. The rates for June were 6.67% and 2.79%, respectively.

The volumes of new loans for house purchase, consumption and other purposes totalled €931 million, €402 million and €173 million respectively (Chart 3).

Interest rates on new deposits

In July 2020, the average interest rate on new deposits with a maturity of up to one year of non-financial corporations stood at 0.06%, increasing by 2 b.p. from the previous month (Chart 4).

In the case of households, the average interest rate on new deposits remained unchanged at 0.06% (Chart 5).

Next update: 1 Oct. 2020