Statistical Press Release – Banking interest rates on new loans and deposits – October 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 October 2020.
Interest rates on new loans
In October, the average interest rate on new loans granted to non-financial corporations increased by 7 basis points (b.p.) to 2.07%.
The interest rate on operations above €1 million stood at 1.70% (1.77% in September) (Chart 1) and the interest rate on operations below €1 million at 2.31% (2.15% in September).
The average interest rate on new loans to households for house purchase declined by 5 b.p. to a new historical low of 0.87% (Chart 2), for the third consecutive month. The average interest rate on loans for consumption stood at 6.43% and the interest rate on loans for other purposes stood at 3.76%. The rates for September were 6.63% and 3.20%, respectively.
The volumes of new loans for house purchase, consumption and other purposes totalled €976 million, €391 million and €156 million respectively (Chart 3).
Interest rates on new deposits
In October 2020, the average interest rate on new deposits with a maturity of up to one year of non-financial corporations declined by 1 b.p. to a new historical low of 0.03% (Chart 4).
In the case of households, the average interest rate on new deposits remained unchanged at 0.06% (Chart 5).
Next update: 6 Jan. 2021