The average interest rate on variable rate mortgages decreased by 11 basis points to 2.84%.
The weighted average interest rate on new deposits remained unchanged at 0.02% in July 2022, according to data from the Bank of Greece, while the weighted average interest rate on new loans decreased to 3.71%. This development resulted in the interest rate spread between new deposits and loans falling to 3.69% from 3.95% the previous month.
In detail, the average overnight deposit rate from households remained unchanged at 0.03%, while the corresponding rate from businesses remained almost unchanged at -0.01%. The average interest rate on deposits with an agreed duration of up to 1 year from households remained almost unchanged, compared to the previous month, at 0.13%.
On the loans side, the medium interest rate of consumer loans without fixed duration (category that includes credit card loans, open loans and current account overdrafts) remained almost unchanged at 14.13%.
The average interest rate on fixed-term and variable-rate consumer loans remained almost unchanged at 11.33%.
The average interest rate of mortgages with floating interest rate decreased by 11 basis points to 2.84%.
The average interest rate on non-term business loans fell 4 basis points to 3.76%. The corresponding interest rate on professional loans increased by 8 basis points and stood at 6.37%.
The average interest rate on new fixed term and floating rate business loans decreased by 43 basis points in July 2022 to 2.58%. The average interest rate on fixed-term loans with a variable interest rate to small and medium-sized enterprises increased by 37 basis points and stood at 3.62%.
Regarding the structure of interest rates in terms of the amount of the loan, it is noted that the average interest rate for loans up to 250,000 euros increased by 13 basis points and reached 4.63%, for loans from 250,001 to 1 million euros it increased by 19 basis points to 3.60% and for loans over 1 million euros it was reduced by 40 basis points to 2.52%.
RES-EMP
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