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Statistical Press Release - Banking interest rates on new loans and deposits – June 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 May 2019.

Interest rates on new loans

In June the average interest rate on new loans granted to non-financial corporations was 2.26%, remaining unchanged from the previous month. 

The interest rate on operations above €1 million stood at 1.91% (Chart 1) and the interest rate on operations below €1 million at 2.55%, narrowing the gap between the two rates compared with the previous month.

The average interest rate on new loans to households for house purchase increased by 2 basis points (b.p.), to 1.33% (Chart 2). The average interest rates on loans for consumption and other purposes were 6.99% and 3.81% respectively.

 The volumes of new loans for house purchase, consumption and other purposes totalled €849 million, €390 million and €156 million respectively.

 

Interest rates on new deposits

In June 2019 the average interest rate on new deposits with a maturity of up to one year of non-financial corporations reached a new historical low of 0.09%, declining by 2 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 remained at 0.12% (Chart 4). 

Next update: 10 Sep. 2019