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

Interest rates on new loans

In March the average interest rate on new loans granted to non-financial corporations decreased by 4 basis points (b.p.) to a new historical low of 2.10%.

The interest rate on operations above €1 million stood at 1.68% (1.75% in February) (Chart 1) and the interest rate on operations below €1 million at 2.42% (2.49% in February), maintaining the gap between the two rates compared to the previous month.

The average interest rate on new loans to households for house purchase decreased by 4 b.p., to 1.02% (Chart 2). The average interest rates on loans for consumption and other purposes were 6.67% and 3.67% respectively, compared to 6.84% and 3.88% respectively from February.

The volumes of new loans for house purchase, consumption and other purposes totalled €952 million, €421 million and €240 million respectively.

Interest rates on new deposits

In March 2020 the average interest rate on new deposits with a maturity of up to one year of non-financial corporations remained unchanged at 0.05% (Chart 3).

In the case of households, the average interest rate on new deposits remained unchanged at 0.07% (Chart 4).

Next update: 5 Jun. 2020

As of the next publication, the cut-off date for statistics on banking loans and deposits of non-financial corporations and households will be brought forward by approximately six working days. The aim is for these statistics’ users to have faster access to relevant information on the financial sector.