According to figures released by Central Bank of Cyprus, lending rates for house purchase in August increased to 3.35% from 3.25% in July, while the annual percentage rate of charge (interest component and relevant charges) rose to 5.06% compared with 3.90% in the previous month.

Lending rates for consumer loans rose by 50 basis points to 4.76% from 4.26% in July with the annual percentage rate of charge reaching 5.10% marking a 45 percentage point increase.

The rate for other lending in August declined to 4.06% from 4.29% in July.

Lending rate for corporate loans up to €1 billion in August (one year rate fixation and floating rate thereafter) increased to 4.58% from 4.46% in July.

Source: Famagusta Gazette