In July 2024, the weighted average interest rate on new deposits remained unchanged at 0.57%, while the corresponding rate on loans increased to 5.86%, the Bank of Greece (BoG) said, adding that the interest rate spread between new deposits and loans rose to 5.29 percentage points.
The weighted average interest rate on outstanding amounts of deposits remained almost unchanged at 0.53%, while the corresponding rate on loans fell to 6.09%.
The interest rate spread between outstanding amounts of deposits and loans decreased to 5.56 percentage points.
1. Interest rates on euro-denominated new deposits and loans
New Deposits
The weighted average interest rate on new deposits remained stable at 0.57%, compared to the previous month.
In particular, the average interest rates on overnight deposits placed by households and non-financial corporations stood at 0.03% and 0.20% respectively.
The average interest rate on deposits from households with an agreed maturity up to 1 year remained almost unchanged at 1.87%, while the corresponding rate on deposits from non-financial corporations decreased by 5 basis points to 3.11%.
New Loans
The weighted average interest rate on new loans to households and non-financial corporations soared 9 basis points to 5.86%.
More specifically, the average interest rate on consumer loans without a defined maturity (a category that comprises credit cards, revolving loans and overdrafts) remained almost at the same levels (14.93%).
The average interest rate on consumer loans with a defined maturity at a floating rate jumped 11 basis points to 12.34%, while the average interest rate on housing loans at a floating rate dropped by 28 basis points to 4.42%.
The average interest rate on corporate loans without a defined maturity decreased by 13 basis points to 6.48%.
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) remained almost unchanged at 0.53% compared to the previous month.
In particular, the average interest rates on outstanding amounts of deposits with an agreed maturity of up to 2 years placed by households and non-financial corporations stood at 1.85% and 2.95% respectively.
Loans
The weighted average interest rate on outstanding amounts of loans decreased by 6 basis points to 6.09%.
In particular, the average interest rate on outstanding amounts of housing loans with over 5 years’ maturity remained at 4.33%. The corresponding rate on consumer and other loans to individuals and private non-profit institutions also remained at the same level at 8.37%.
The average interest rate on corporate loans with over 5 years maturity fell by 6 basis points to 5.92%. The corresponding rate on loans to sole proprietors also decreased by 6 basis points to 6.77%.
