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Cyprus

Consumer credit interest rates down, housing loan rates up in July

ÊÅÍÔÑÉÊÇ ÔÑÁÐÅÆÁÓ ÊÕÐÑÏÕ
Cyprus Central Bank

The interest rate on consumer credit registered a decline to 3.03 per cent in July compared with 3.14 per cent in the previous month, the central bank said on Wednesday.

However, the interest rate on loans for house purchase rose to 2.21 per cent, compared with 2.13 per cent in June.

The interest rate on loans to non-financial corporations for amounts up to €1 million also increased to 3.30 per cent, compared with 3.20 per cent in the previous month while the interest rate on loans to non-financial corporations for amounts over €1 million remained unchanged at 3.16 per cent, compared with the previous month, the bank said.

Total new loans recorded a decrease to €507.3 million in July 2021, compared with €674.5 million in the previous month.

New loans for consumption decreased to €16.0 million, compared with €19.8 million in June.
Those for house purchase registered a decline to €118.1 million, compared with €171.9 million in the previous month.

New loans to non-financial corporations for amounts up to €1 million recorded a decrease to €61.5 million, compared with €93.3 million in the previous month.

Those to non-financial corporations for amounts over €1 million fell to €302.2 million, compared with €372.7 million in June.

The interest rate on deposits from households with an agreed maturity of up to one year remained unchanged at 0.07 per cent, compared with the previous month, while the corresponding interest rate on deposits from non-financial corporations recorded a decrease to 0.06 per cent, compared with 0.12 per cent in the previous month, the bank said.

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