Reduce interest rates on mortgages and business loans and an increase in consumer by commercial banks in December show data from the Bank of Greece.

Deposit rates were left unchanged and a slight decrease in yields in the time -limit.

More specifically, according to the BoG’s announcement:

1. Interest rates on new deposits and loans in euro

New deposits

The average weighted interest rate of all new deposits stood at 0.45% in December 2024 from 0.48% last month.

In particular, one -day deposit interest rates from households and businesses remained unchanged at 0.03% and 0.16% respectively.

The average deposit rate of up to 1 year of households decreased by 9 basis points and was 1.65%, while the corresponding business interest rate remained unchanged at 2.56%.

New loans

The average weighted interest rate of all new loans to households and businesses decreased by 6 basis points and stood at 5.21%.

In particular, the average interest rate on consumer loans without a specified duration (category including credit card loans, open loans and over -accounts from running accounts) remained almost unchanged at 15.04%.

The average interest rate on consumer loans with a specific duration and a floating rate decreased by 34 basis points and was 11.89%, while the average interest rate on floating rate loans decreased by 29 basis points to 3.59%.

The average interest rate on business loans without a specified duration decreased by 7 basis points and stood at 5.88%. The corresponding interest rate on business loans decreased by 15 basis points and stood at 7.21%.

The average interest rate on new business loans with a specific duration and a floating rate decreased by 13 basis points and stood at 4.68%. The average interest rate on the expiry of a floating rate to small and medium -sized enterprises (SMEs) decreased by 5 basis points and stood at 4.97%.

Regarding the stretching of interest rates on the amount of the loan it is noted that the average interest rate for loans up to 250,000 euros was reduced by 10 basis points and stood at 4.96%, for loans from 250.001 to 1m euros decreased by 21 basis points. At 5.09%, while for loans of over € 1 million it decreased by 12 basis points and stood at 4.63%.

2. Interest rates on existing deposits and loans in euro

Existing deposits

The average weighted interest rate of all existing deposits (including one day’s deposits) remained almost unchanged at 0.49% compared to the previous month.

In particular, the average interest rate on existing household deposits with agreed duration of up to two years remained almost unchanged to 1.80%, while the corresponding deposit rate by businesses decreased by 12 basis points and stood at 2.50%.

Existing loans

The average weighted interest rate on existing loans decreased by 25 basis points and stood at 5.50%.

In particular, the average interest rate on existing mortgages for over 5 years decreased by 6 basis points and stood at 4.20%. The corresponding interest rate on consumer and other loans to individuals and private non -profit institutions decreased by 4 basis points and stood at 8.28%.

The average interest rate on business loans over 5 years decreased by 41 basis points and stood at 5.10%. The corresponding interest rate on business loans decreased by 11 basis points and stood at 6.28%.