The weighted average interest rates on new deposits and loans remained almost unchanged in August 2024, at 0.54% and 5.84%, respectively, according to Bank of Greece data. The interest rate spread between new deposits and loans remained almost unchanged at 5.30 percentage points.

In August 2024, the weighted average interest rate on all existing deposits remained unchanged at 0.53%, while the corresponding interest rate on loans remained almost unchanged at 6.06%. The interest rate spread between existing deposits and loans remained almost unchanged at 5.53 percentage points.

Interest rates on new deposits and loans in euro

New deposits

The weighted average interest rate on all new deposits stood at 0.54% in August 2024 from 0.57% in the previous month.  In particular, the average interest rate on overnight deposits from households remained almost unchanged at 0.04%, while the corresponding interest rate on deposits from businesses decreased by 4 basis points to 0.16%. The average interest rate on deposits with an agreed maturity of up to 1 year by households remained almost unchanged at 1.88%, while the corresponding interest rate on deposits by non-financial corporations decreased by 13 basis points to 2.98%. 

New loans 

The weighted average interest rate on all new loans to households and businesses remained almost unchanged at 5.84%. 

In particular, the average interest rate on consumer loans without a fixed maturity (a category that includes credit card loans, open loans and current account overdrafts) remained unchanged at 14.93%.

The average interest rate on consumer loans with a fixed maturity and variable interest rate increased by 10 basis points to 12.44%, while the average interest rate on mortgage loans with a variable interest rate increased by 4 basis points to 4.46%.

The average interest rate on business loans with no specific maturity decreased by 5 basis points to 6.43%. The corresponding interest rate for business loans decreased by 8 basis points to 7.40%.

The average interest rate on new business loans with a fixed maturity and variable interest rate decreased by 4 basis points to 5.58%. The average interest rate on regular maturity floating rate loans to small and medium-sized enterprises (SMEs) decreased by 24 basis points to 5.67%. 

Regarding the structure of interest rates by loan size, the average interest rate for loans up to 250,000 euros decreased by 8 basis points to 5.81%; for loans from 250,001 to 1 million euros, it decreased by 28 basis points to 5.64%, while for loans above 1 million euros, it decreased by 6 basis points to 5.53%.

Interest rates on existing balances of deposits and loans denominated in euro

Existing deposits 

The weighted average interest rate on all existing deposits (including overnight deposits) remained unchanged from the previous month at 0.53%. 

In particular, the average interest rate on existing balances of deposits from households with agreed maturity up to two years remained unchanged at 1.85%, while the corresponding interest rate on deposits from corporations decreased by 6 basis points to 2.89%. 

Existing loans

The weighted average interest rate on existing loans remained almost unchanged at 6.06%. In particular, the average interest rate on existing balances of mortgage loans with a maturity of more than 5 years remained almost unchanged at 4.32%. The corresponding interest rate on consumer and other loans to individuals and private non-profit institutions remained unchanged at 8.37%. 

The average interest rate on business loans with a maturity of more than 5 years decreased by 5 basis points to 5.87%. The corresponding interest rate for business loans also decreased by 5 basis points to 6.72%.