Cyprus Mail

Deposit rates stable as corporate loans become more expensive, central bank says

Interest rates for new deposits in the Cypriot banking system remained more or less unchanged in December as large new loans to non-financial companies became slightly less affordable in December, the Central Bank of Cyprus said.

Interest rates for household deposits with up to a year maturity rose by 3 basis points to 1.54 per cent in December while those for companies fell by 4 basis points to 1.49 per cent, the central bank said in a statement on its website on Thursday.

Interest rates on loans for amounts over €1m to non-financial companies rose by 19 basis points to 4.06 per cent in December compared to November while for amounts below €1m rose by 1 basis point to 4.74 per cent, the central bank said. Interest rates on consumer loans rose to 4.56 per cent from 4.33 per cent in November while mortgages rates fell by 9 basis points to 3.28 per cent.

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