Central Bank of Cyprus releases statistics on interest rates applied by monetary financial institutions in Cyprus

Nicosia, Cyprus, 6-11-2015 — /EuropaWire/ — The Statistics Department of the Central Bank of Cyprus releases today the statistics on interest rates applied by monetary financial institutions in Cyprus on deposits and loans in euro for the reference month of September 2015. These statistics are presented in Tables 7, 8, 9 and 10 of the October 2015 edition of Monetary and Financial Statistics.

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 decreased to 1,52% compared with 1,59% in the previous month.
• The corresponding interest rate on deposits from non-financial corporations recorded a marginal increase to 1,57% compared with 1,56% in the previous month.

Lending Rates

• The interest rate on consumer credit decreased to 4,38% compared with 4,80% in the previous month.
• The interest rate on loans for house purchase increased marginally to 3,36% compared with 3,35% in the previous month.
• The interest rate on loans to non-financial corporations for amounts up to €1 million registered a decline to 4,51% compared with 4,58% in the previous month. In contrast, the interest rate on loans to non-financial corporations for amounts over €1 million increased to 4,27% compared with 3,57% in the previous month.

SOURCE: Central Bank of Cyprus