The third lowest in the Eurozone in December 2016 was the interest rate on consumer loans in Cyprus, while the interest rate on mortgages increased and is the second highest in the Eurozone, according to data for the 12th month of 2016 published on Thursday. Central Bank (CB) of Cyprus and European Central Bank.
Among the highest in the Eurozone are still the interest rate for deposits of up to one year from households and the interest rate for deposits from companies.
Deposit rates
In particular, the interest rate for deposits of up to one year from households in December 2016 increased marginally to 1,47%, a percentage that is the third highest in the Eurozone, behind those of the Netherlands and Slovakia. The average corresponding interest rate in the Eurozone is 0,45%. Last month, the interest rate was 1,46%, which was historically lower.
The corresponding interest rate on deposits from non-financial companies, although it fell to 1,29%, compared to 1,36% last month, is still the highest difference in the Eurozone. The corresponding average interest rate of the Eurozone is only 0,11%.
Loan interest rates
The interest rate on consumer loans fell to 4,13% from 4,23% last month and is the third lowest in the Eurozone. The average corresponding interest rate in the Eurozone is 4,80%.
The housing interest rate rose to 3,03% from 2,95% last month and is the second highest in the Eurozone, behind Ireland's 3,14%.
The interest rate on loans to non-financial companies for amounts up to € 1 million fell by 4,05%, compared to 4,10% last month.
The interest rate on loans to non-financial companies for amounts over € 1 million remained unchanged at 3,81%, compared to the previous month, and is the second highest in the Eurozone. The eurozone average is just 1,36%.