Interest rates for consumer and housing loans declined in November 2016, while household one-year notice deposit interest rates dropped to a new low, figures released by the CentralBank of Cyprus (CBC) show.
According to the CBC data, interest rates for household deposits for one-year notice accounts dropped to 1.46% from 1.47%, declining for third consecutive month.
The respective interest rates for corporate deposits declined to 1.36% in November 2016 compared with 1.40% the previous month.
Furthermore, interest rates for consumer and housing loans dropped in November, whereas rates for corporate loans increased.
Interest rates for consumer loans declined to 4.23% in November from 4.28% in October 2016.
After remaining unchanged in October, interest rates for housing loans declined to 2.95% from the previous month.
Source: CNA
