The weighted average interest rate on new deposits remained unchanged at 0.05% in November 2021, while the weighted average interest rate on new loans decreased to 3.73%, as announced today by the Bank of Greece.
The interest rate margin between new deposits and loans fell to 3.68 percentage points.
The weighted average interest rates of all existing deposits and loans remained unchanged at 0.04% and 3.51% respectively.
At the same time, the interest rate margin between existing deposits and loans remained unchanged at 3.47 percentage points.
Interest rates on new deposits and loans in euros
New Deposits
The weighted average interest rate of all new deposits remained unchanged at 0.05%.
In particular, the average interest rates on overnight deposits from households and businesses remained unchanged at 0.03% and 0.00% respectively. The average interest rate on deposits with an agreed maturity of up to 1 year by households also remained unchanged at 0.14%, compared to the previous month.
New Loans
The weighted average interest rate on all new loans to households and businesses decreased by 21 basis points to 3.73%.
In particular, the average interest rate on consumer loans without a fixed term (a category that includes credit card loans, open loans and current account overdrafts) remained almost unchanged at 14.50%.
The average interest rate on consumer loans with a certain duration and floating interest rate remained almost unchanged at 11.42%. The average interest rate on floating rate mortgages also remained virtually unchanged at 2.41%.
The average interest rate on business loans without fixed term decreased by 11 basis points to 4.02%, while the corresponding interest rate on business loans remained almost unchanged at 6.47%.
The average interest rate on new business loans with a specific duration and floating interest rate decreased by 29 basis points in November 2021, reaching 2.56% compared to 2.85% in the previous month. The average interest rate on floating-rate loans to small and medium-sized enterprises (SMEs) rose to 3.29% from 3.16% last month.
Regarding the structure of interest rates in terms of the amount of the loan, it is noted that the average interest rate for loans up to 250,000 euros remained almost unchanged at 4.39%, for loans from 250,001 to 1 million euros decreased by 18 basis points to 3.18 %, while for loans over 1 million euros it decreased by 35 basis points to 2.38%.
Interest rates on existing deposits and loans
Existing Deposits
The weighted average interest rate on all existing deposits (including overnight deposits) remained unchanged at 0.04%.
In particular, the average interest rates on existing deposit balances with an agreed maturity of up to 2 years by households and businesses remained unchanged at 0.10% and 0.07% respectively.
Existing Loans
The weighted average interest rate on existing loans remained unchanged at 3.51%.
In particular, the average interest rates on existing mortgage balances, as well as consumer and other loans to individuals and private non-profit loans with a maturity of more than 5 years, remained almost unchanged at 1.91% and 6.41% respectively. The average interest rate on business loans with a maturity of more than 5 years also remained almost unchanged at 3.09%, while the corresponding interest rate on business loans remained unchanged at 4.29%.
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Source From: Capital
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