Financial Services category powered by

Deposit interest rates in Cyprus decrease in May, mixed trends in lending

07:57 - 06 June 2024

Financial Services Reporter

Deposit interest rates decreased in April, while mixed trends were observed in lending rates, according to data released by the Central Bank of Cyprus.

Specifically, the interest rate for deposits with a maturity of up to one year from households decreased to 2.16%, down from 2.24% in the previous month. Similarly, the corresponding interest rate for deposits from non-financial corporations also decreased, dropping to 1.82% compared to 2.24% in the previous month.

Lending rates

Concerning lending rates, consumer loan interest rates increased to 6.43%, up from 6.19% in the previous month.

Interest rates for mortgages decreased to 4.70%, compared to 4.75% in the previous month.

Interest rates for loans to non-financial corporations for amounts up to €1 million saw an uptick to 5.58%, compared to 5.52% in the previous month.

Interest rates for loans to non-financial corporations for amounts over €1 million saw a decline to 5.80%, down from 5.88% in the previous month.

(Source: CNA)

News Feed

Read More

RSM in Cyprus' revenue jumps 7.9%
Housing loans demand up in Q3 2024 for the first time since Q1 2022
Attica Bank's main shareholder wants Constantinos Herodotou as bank's Board Chairman
Interest rates continued to rise in December 2024, CBC says
Hellenic Bank announces new reduction in reference interest rate for loans linked to the ECB's base rate
Future forecasting: How Cyprus is becoming a focal point for fintech innovation
Ioannis Georgoulas: "I anticipate that the EMI market will consolidate much sooner than expected"
CySEC seeks views on the introduction of ICT oversight fees for entities covered by DORA
Central Bank of Cyprus sets reference interest rate at 11.50%
Cyprus Compliance Association and CFA Society Cyprus enter strategic partnership