Statistical Press Release - Banking interest rates on new loans and deposits – November 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 November 2019.
Interest rates on new loans
In November the average interest rate on new loans granted to non-financial corporations was 2.22% (2.34% in October).
The interest rate on operations above €1 million stood at 1.74% (2.05% in October) (Chart 1) and the interest rate on operations below €1 million at 2.51% (2.58% in October), widening the gap between the two rates compared to the previous month.
The average interest rate on new loans to households for house purchase increased by 3 basis points (b.p.), to 1.05% (Chart 2). The average interest rates on loans for consumption and other purposes were 6.72% and 4.02% respectively. The rate on loans for consumption reached a new historical low.
The volumes of new loans for house purchase, consumption and other purposes totalled €978 million, €466 million and €224 million respectively.
Interest rates on new deposits
In November 2019 the average interest rate on new deposits with a maturity of up to one year of non-financial corporations stood at 0.08% (Chart 3), unchanged from October.
In the case of households, the average interest rate on new deposits with a maturity of up to one year was 0.08% (Chart 4).
Next update: 11 Feb. 2020