Statistical Press Release – Banking interest rates on new loans and deposits – September 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 September 2020.
Interest rates on new loans
In September, the average interest rate on new loans granted to non-financial corporations increased by 4 basis points (b.p.) to 1.99%.
The interest rate on operations above €1 million stood at 1.77% (1.53% in August) (Chart 1) and the interest rate on operations below €1 million at 2.13% (2.25% in August).
The average interest rate on new loans to households for house purchase declined by 6 b.p. to a new historical low of 0.92% (Chart 2), for the second consecutive month. The average interest rate on loans for consumption remained unchanged at 6.63% and the interest rate on loans for other purposes decreased to 3.20% (3.37% in August).
The volumes of new loans for house purchase, consumption and other purposes totalled €970 million, €388 million and €183 million respectively (Chart 3).
Interest rates on new deposits
In September 2020, the average interest rate on new deposits with a maturity of up to one year of non-financial corporations remained unchanged at 0.04% (Chart 4).
In the case of households, the average interest rate on new deposits with a maturity of up to one year remained unchanged at 0.06% (Chart 5).
Next update: 2 Dec. 2020