At relatively high levels, lending rates for the purchase of housing (new projects) from Cypriot banks were maintained in September.
According to the data released by the Central Bank of Cyprus on lending rates in September 2024, the general interest rate for all Monetary and Financial Institutions (MFIs) in Cyprus increased, from 4,33% in August, to 4,49 % in September, despite the downward trend observed in the interest rates of the European Central Bank.
Some banks, such as Bank of Cyprus and Eurobank, showed an increase in their interest rates in September, on the contrary, banks such as Astrobank and Hellenic Bank saw a decrease.
Specifically in September 2024, the lending rates from Cypriot banks for the purchase of housing by households at variable interest rates are as follows, from the highest to the lowest:
Cyprus Development Bank Public Company Ltd – 5,22%, from 4,96% in August, Bank of Cyprus Public Company Ltd – 5,11% from 4,36% in August, Eurobank Cyprus Ltd – 4,99% from 4,65 % in August, Astrobank Public Co Ltd – 4,28% from 4,60% in August, Hellenic Bank Public Company Ltd – 4,12% from 4,45% in August, Ancoria Bank Ltd – 4,28% from 4,32, 3,26% in August, Housing Finance Organization – 3,02% from 2,84% in August, National Bank of Greece (Cyprus) Ltd – 2,90% (no price in August), Alpha Bank Cyprus Ltd – 4,19% , from XNUMX% in August.
Besides, the average interest rate on loans of up to one million euros to companies increased to 5,61% in September, from 5,56% in August.
Specifically, Banque SBA had an interest rate of 7,96% in September, from 8,05% in August, Alpha Bank Cyprus Ltd 6,35%, from 6,21%, Societe Generale Bank Cyprus 6,11%, from 6,84, 6,07%, Eurobank Cyprus Ltd 5,79%, from 5,79%, Bank of Cyprus Public Company Ltd 5,75%, from 5,30%, National Bank of Greece (Cyprus) 5,60%, from 5,02 .6,35%, Ancoria Bank Ltd 4,92%, from 4,91%, and Hellenic Bank Public Company Ltd XNUMX%, from XNUMX%.
Interest rate on deposits from households
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In addition, the average interest rate on deposits from households, residents of the eurozone, rose to 1,98% in September, from 1,79% in August.
The highest deposit rate in September is offered by Eurobank Cyprus Ltd with 2,83%, followed by the National Bank of Greece (Cyprus) with 2,46%, the Housing Finance Organization 2,13%, Jordan Abli Bank with 2,10% , Cyprus Development Bank Public Company Ltd with 2,05%, Alpha Bank Cyprus Ltd with 1,95%, Ancoria Bank Ltd with 1,92%, Societe Generale Bank Cyprus with 1,78%, Astrobank Public Co Ltd with 1,71%, Hellenic Bank with 1,43% and Bank of Cyprus with 1,19%.
