Interest rates for new housing and business loans exceeding €1m in the Cypriot banking system dropped to 3.68% and 3.8% respectively in April 2015, from 3.76% and 4.28% the month before, which are both historical lows, the Central Bank of Cyprus said recently.
On the other hand, borrowers saw the cost of consumer loans rise in April to 4.84% from 4.69% in March, the central bank said in a statement on its website.
Interest rates on new household deposits with up to a year’s maturity rose to 1.75% in April from 1.73% the month before, the statement said, while interest rates on deposits of non-financial companies rose to 1.72% from 1.57% respectively.
Source: Cyprus Mail
