In December 2024, the weighted average interest rates on new deposits and loans stood at 0.45% and 5.21%, respectively, according to Bank of Greece data, down from 0.49% and 5.27% previously. The interest rate spread between new deposits and loans remained almost unchanged at 4.76 percentage points from 4.78 in November.

In December 2024, the weighted average interest rate on all existing deposits remained almost unchanged at 0.49%, while the corresponding interest rate on loans fell to 5.50%. The interest rate spread between existing deposits and loans decreased to 5.01 percentage points from 5.25 percentage points.

Interest rates on new deposits and loans

New deposits and loans

The weighted average interest rate on all new deposits was 0.45% in December 2024, down from 0.48% in the previous month. In particular, the average interest rates on overnight deposits from households and businesses remained unchanged at 0.03% and 0.16%, respectively. The average interest rate on deposits with an agreed maturity of up to 1 year from households decreased by 9 basis points to 1.65%, while the corresponding interest rate on deposits from non-financial corporations remained unchanged at 2.56%.

New loans

The weighted average interest rate on all new loans to households and enterprises decreased by 6 basis points to 5.21%. 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 almost unchanged at 15.04%. The average interest rate on consumer loans with a fixed maturity and a variable interest rate decreased by 34 basis points to 11.89%, while the average interest rate on mortgage loans with a variable interest rate decreased by 29 basis points to 3.59%. The average interest rate on non-fixed-term business loans decreased by 7 basis points to 5.88%. The corresponding interest rate for business loans decreased by 15 basis points to 7.21%. The average interest rate on new business loans with a fixed maturity and variable interest rate decreased by 13 basis points to 4.68%. The average interest rate on regular maturity floating rate loans to small and medium-sized enterprises (SMEs) decreased by 5 basis points to 4.97%. 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 10 basis points to 4.96%; for loans from EUR 250,001 to EUR 1 million, it decreased by 21 basis points to 5.09%; while for loans above EUR 1 million, it decreased by 12 basis points to 4.63%.

Interest rates on existing deposit and loan balances

Existing deposits

The weighted average interest rate on all existing deposits (including overnight deposits) remained almost unchanged at 0.49% compared to the previous month. In particular, the average interest rate on existing balances of deposits from households with an agreed maturity of up to two years remained almost unchanged at 1.80%, while the corresponding interest rate on deposits from corporates decreased by 12 basis points to 2.50%.

Existing loans

The weighted average interest rate on existing loans decreased by 25 basis points to 5.50%. In particular, the average interest rate on existing balances of mortgage loans with a maturity of more than 5 years decreased by 6 basis points to 4.20%. The corresponding interest rate on consumer and other loans to individuals and private non-profit institutions decreased by 4 basis points to 8.28%. The average interest rate on business loans with a maturity of over 5 years decreased by 41 basis points to 5.10%. The corresponding interest rate for business loans decreased by 11 basis points to 6.28%.