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

Interest rates on new loans

In June, the average interest rate on new loans granted to non-financial corporations increased by 17 basis points (b.p.) to 1.73%.

The interest rate on operations above €1 million stood at 1.58% (1.46% in May) (Chart 1) and the interest rate on operations below €1 million at 1.83% (1.60% in May). 

The average interest rate on new loans to households for house purchase rose by 4 b.p., to 1.16% (Chart 2). The average interest rate on loans for consumption stood at 6.67% and the interest rate on loans for other purposes stood at 2.79%. The rates for May were 6.55% and 2.66%, respectively.

The volumes of new loans for house purchase, consumption and other purposes totalled €833 million, €318 million and €179 million respectively (Chart 3).

Interest rates on new deposits

In June 2020, the average interest rate on new deposits with a maturity of up to one year of non-financial corporations stood at a new historical low of 0.04%, decreasing by 1 b.p. from the previous month (Chart 4).

In the case of households, the average interest rate on new deposits stood at 0.06%, a new historical low (Chart 5).

Next update: 2 Sep. 2020