Slight rate fall for Cypriot mortgages
Cypriot banks’ interest rates for household deposits and housing loans decreased slightly in January, while interest rates for non-financial corporations increased, according to data published by the Central Bank of Cyprus on Friday. These statistics are included in the February 2023 Monetary and Financial Statistics edition.
The interest rate on household deposits with an agreed maturity of up to one year recorded a decrease to 0.24%, compared with 0.35% in the previous month. In contrast, the corresponding interest rate on deposits from non-financial corporations registered an increase of 0.70%, compared with 0.61% in the previous month.
The rate on loans for home purchases decreased to 3.11%, compared with 3.34% in the previous month, while the interest rate on consumer credit increased to 4.68%, compared with 4.21% in December.
At the same time, the interest rate on loans to non-financial corporations for amounts up to 1 million euros increased to 4.82%, compared with 4.71% in the previous month, and the interest rate on loans to non-financial corporations for amounts over €1 million registered an increase to 5.37%, compared with 3.52% in January.
