The weighted average interest rate on new deposits decreased to 0.49% in November 2024, while the corresponding interest rate on new loans fell to 5.27%. According to Bank of Greece data, the interest rate spread between new deposits and loans decreased to 4.78 percentage points.

The weighted average interest rate on all existing deposits remained almost unchanged at 0.50%, while the corresponding interest rate on loans fell to 5.75%. The interest rate spread between existing deposits and loans decreased to 5.25 percentage points.

Interest rates on new deposits and loans in euro

New deposits

The weighted average interest rate on all new deposits decreased by 4 basis points in November 2024 to 0.49%. In particular, the average interest rate on overnight deposits from households remained unchanged at 0.03%, while the corresponding interest rate on deposits from businesses remained almost unchanged at 0.16%. The average interest rate on deposits with an agreed maturity of up to 1 year by households decreased by 10 basis points to 1.74%, while the corresponding interest rate on deposits by non-financial corporations decreased by 21 basis points to 2.56%. 

New loans 

The weighted average interest rate on all new loans to households and enterprises decreased by 14 basis points to 5.27%. 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) increased by 7 basis points to 15.02%.  The average interest rate on consumer loans with a fixed maturity and variable interest rate remained almost unchanged at 12.23%, while the average interest rate on mortgage loans with a variable interest rate decreased by 12 basis points to 3.88%. The average interest rate on business loans without a fixed maturity decreased by 7 basis points to 5.95%. The corresponding interest rate for business loans decreased by 8 basis points to 7.36%. The average interest rate on new business loans with a fixed maturity and variable interest rate decreased by 17 basis points to 4.81%. The average interest rate on regular maturity floating rate loans to small and medium-sized enterprises (SMEs) decreased by 34 basis points to 5.02%. As regards the structure of interest rates according to the loan amount, the average interest rate for loans up to EUR 250,000 decreased by 42 basis points to 5.06%; for loans from EUR 250,001 to EUR 1 million, it decreased by 14 basis points to 5.30%; and for loans above EUR 1 million, it decreased by 16 basis points to 4.75%.