The Statistics Department of the Central Bank of Cyprus released recently the statistics on interest rates applied by monetary financial institutions in Cyprus on deposits and loans in euro for the reference month of June 2016.
The main developments in interest rates on new loan and deposit contracts, including existing contracts which were renegotiated, are summarised as follows:
Deposit Rates
- The interest rate on deposits from households with an agreed maturity of up to one year remained unchanged at 1.49%, compared with the previous month.
- The corresponding interest rate on deposits from non-financial corporations recorded an increase to 1.45%, compared with 1.34% in the previous month.
Lending Rates
- The interest rate on consumer credit decreased marginally to 4.47%, compared with 4.49% in the previous month.
- The interest rate on loans for house purchases also fell to 2.99%, compared with 3.09% in the previous month.
- The interest rate on loans to non-financial corporations for amounts up to €1 million registered an increase to 4.23%, compared with 4.12% in the previous month. In contrast, the interest rate on loans to non-financial corporations for amounts over €1 million recorded a decline to 3.76%, compared with 3.84% in the previous month.
Source: InCyprus
