articles | 02 September 2021

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

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

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

The interest rate on loans to non-financial corporations for amounts up to €1 million also increased to 3.30%, compared with 3.20% in the previous month while the interest rate on loans to non-financial corporations for amounts over €1 million remained unchanged at 3.16%, 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%, compared with the previous month, while the corresponding interest rate on deposits from non-financial corporations recorded a decrease to 0.06%, compared with 0.12% in the previous month, the bank said.

Source: Cyprus Mail

Cooperation Partners
  • Logo for Cyprus In Your Heart
  • Logo for Invest Cyprus
  • Logo for Cyprus Shipping Chamber
  • Logo for CYFA Cyprus
  • Logo for Cyprus Chamber of Commerce and Industry
  • Logo for Cyprus International Businesses Association
  • Logo for Ministry of Energy, Commerce, Industry and Tourism
  • Logo for Cyprus Investment Funds Association
  • Logo for Association of Cyprus Banks