There is an increased degree of convergence in the average interest rates of credit institutions in Cyprus, compared to the corresponding average of credit institutions in the eurozone, both in deposits and loans, the Central Bank of Cyprus says.
According to the interest rate data for deposits and loans for each credit institution in Cyprus published by the Central Bank of Cyprus, with reference month December 2025, the interest rates on term deposits of up to one year from households (new business) on average for all Monetary Financial Institutions (MFIs) in Cyprus is at 1.20%, while the average in the eurozone is 1.77%.
The interest rate on term deposits of up to one year from non-financial corporations (new business) for all MFIs in Cyprus on average is at 1.27% while in the eurozone it is 1.93%.
The interest rate on loans for house purchase to households, residents of the euro area, in euros, regardless of the initial determination period (new business - new contracts) is on average for all MFIs in Cyprus at 3.11%, while for the euro area it stands at 3.32%.
The CBC notes that in order to further enhance transparency, it publishes detailed interest rate data for deposits and loans for each credit institution since July 2024.
It says that the monthly publication of detailed interest rate data contributes to easier public information, providing households and businesses with direct access to more comprehensive information.
"Although it is too early to draw final conclusions, the results of this effort seem to be reflected in the published interest rate data. More specifically, an increased degree of convergence of the average interest rates of credit institutions in Cyprus is observed, in relation to the corresponding average of credit institutions in the eurozone, both in deposits and loans," it concludes.
(Source: CNA)
