Statistical Press Release - Banking interest rates on new loans and deposits - October 2018
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 October 2018.
Interest rates on new loans
In October 2018 the average interest rate on new loans granted to non-financial corporations was 2.43%, which corresponds to a 7 basis points (b.p.) increase from the previous month.
Interest rates on operations above €1 million and on operations below €1 million stood at 1.77% and 2.84% respectively (Chart 1), with their differential remaining virtually unchanged compared with the previous month.
The average interest rate on new loans to households for house purchase declined by 2 b.p. to 1.34% (Chart 2), corresponding to a new historical low. The average interest rates on loans for consumption and other purposes were 7.22% and 4.19% (7.19% and 3.84% in September) respectively.
The volumes of new loans for house purchase, consumption and other purposes totalled €811 million, €397 million and €154 million respectively.
Interest rates on new deposits
In October 2018 the average interest rate on new deposits with a maturity of up to one year of non-financial corporations stood at 0.11%, decreasing by 2 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 increased by 1 b.p. to 0.15% (Chart 4).
Next update: 8 Jan. 2019