In January 2024, the weighted average interest rate on new deposits remained almost unchanged at 0.53%, according to the Bank of Greece (BoG).
The interest rate spread between new deposits and loans remained almost unchanged at 5.62 percentage points.
The weighted average interest rates on outstanding amounts of deposits and loans remained almost unchanged at 0.53% and 6.36% respectively.
The interest rate spread between outstanding amounts of deposits and loans remained almost unchanged at 5.83 percentage points.
1. Interest rates on euro-denominated new deposits and loans
New Deposits
The weighted average interest rate on new deposits remained almost unchanged at 0.53%, compared to the previous month.
In particular, the average interest rate on overnight deposits placed by households remained unchanged at 0.03%, while the corresponding rate on deposits by non-financial corporations remained almost unchanged at 0.20%.
The average interest rate on deposits from households with an agreed maturity of up to 1 year remained unchanged at 1.83%. The corresponding rate on deposits by non-financial corporations decreased by 6 basis points to 3.19%.
New Loans
The weighted average interest rate on new loans to households and non-financial corporations increased by 4 basis points to 6.15%.
More specifically, the average interest rate on consumer loans without a defined maturity (a category that comprises credit cards, revolving loans and overdrafts) decreased by 11 basis points to 15.00%.
The average interest rate on consumer loans with a defined maturity at a floating rate remained almost unchanged at 12.08%, while the average interest rate on housing loans at a floating rate increased by 39 basis points to 5.47%.
The average interest rate on corporate loans without a defined maturity decreased by 7 basis points to 6.80%. The corresponding rate on loans to sole proprietors also decreased by 7 basis points to 7.73%.
The average interest rate on new corporate loans with a defined maturity at a floating rate remained almost unchanged at 5.87%. The average interest rate on loans with a defined maturity at a floating rate to small and medium-sized enterprises (SMEs) increased by 10 basis points to 6.05%.
2. Interest rates on outstanding amounts of euro-denominated deposits and loans
Deposits
The weighted average interest rate on outstanding amounts of deposits (including overnight deposits) stood at 0.53% compared with 0.51% in the previous month.
In particular, the average interest rate on outstanding amounts of deposits with an agreed maturity of up to 2 years placed by households increased by 4 basis points to 1.72%. The corresponding rate on deposits placed by non-financial corporations remained almost unchanged at 3.02%.
Loans
The weighted average interest rate on outstanding amounts of loans remained almost unchanged at 6.36%.
In particular, the average interest rate on outstanding amounts of housing loans with over 5 years’ maturity remained almost unchanged at 4.40%. The corresponding rate on consumer and other loans to individuals and private non-profit institutions remained also almost unchanged at 8.25%.
The average interest rate on corporate loans with over 5 years’ maturity increased by 6 basis points to 6.33%. The corresponding rate on loans to sole proprietors decreased by 6 basis points to 7.04%.
