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12° Nicosia,
28 September, 2023
 

Interest rates rise for housing and corporate loans

Consumer credit rates drop, house purchase loans see sharp increase, non-financial corporations face higher costs

Source: CNA

Interest rates for housing loans in March 2023 increased by 1.25% compared to February 2023, while interest rates for corporate loans also rose, according to statistics released Friday by the Central Bank of Cyprus.

At the same time, interest rates for household deposits decreased by 0.12%, while interest rates for corporate deposits increased.

The interest rate on consumer credit decreased to 5.05%, compared with 5.17% in the previous month.

The interest rate on loans for home purchases increased to 4.67%, compared with 3.42% in the previous month.

The interest rate on loans to non-financial corporations for amounts up to €1 million increased to 5.60%, compared with 4.85% in the previous month. The interest rate on loans to non-financial corporations for amounts over €1 million registered an increase to 5.29%, compared with 4.54% in the previous month.

The interest rate on deposits from households with an agreed maturity of up to one year recorded a decrease to 0.47%, compared with 0.59% in the previous month.

The corresponding interest rate on deposits from non-financial corporations registered an increase to 1.12%, compared with 0.69% in the previous month.

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