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Statistical Press Release - Banking interest rates on new loans and deposits - March 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 March 2019.

Interest rates on new loans

In March, the average interest rate on new loans granted to non-financial corporations was 2.30% (2.42% in February).

The interest rate on operations above €1 million stood at 1.78% (Chart 1) and the interest rate on operations below €1 million declined to 2.63% (new historical low), widening 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 1 basis point (b.p.) to 1.36% (Chart 2). The average interest rates on loans for consumption and other purposes were 7.13% and 3.62% respectively.

The volumes of new loans for house purchase, consumption and other purposes totalled €870 million, €389 million and €192 million respectively.

Interest rates on new deposits

In March 2019 the average interest rate on new deposits with a maturity of up to one year of non-financial corporations stood at 0.10%, decreasing by 1 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 decreased by 1 b.p., standing at 0.12% (Chart 4), accounting for a new historical low.

Next update: 11 Jun. 2019