Statistical Press Release – Banking interest rates on new loans and deposits – November 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 November 2020.
Interest rates on new loans
In November, the average interest rate on new loans granted to non-financial corporations decreased by 8 basis points (b.p.) to 1.99%.
The interest rate on operations above €1 million stood at 1.58% (1.70% in October) (Chart 1) and the interest rate on operations below €1 million at 2.27% (2.31% in October).
The average interest rate on new loans to households for house purchase declined by 3 b.p. to a new historical low of 0.84% (Chart 2), for the fourth consecutive month. The average interest rate on loans for consumption stood at 6.24% and the interest rate on loans for other purposes stood at 3.24%. The rates for October were 6.43% and 3.76%, respectively.
The volumes of new loans for house purchase, consumption and other purposes totalled €1113 million, €357 million and €189 million respectively (Chart 3).
Interest rates on new deposits
In November 2020, the average interest rate on new deposits with a maturity of up to one year of non-financial corporations rose 1 b.p. to 0.04% (Chart 4).
In the case of households, the average interest rate on new deposits remained unchanged at 0.07% (Chart 5).
Next update: 4 Feb. 2021