Euro area bank interest rate statistics: March 2021

Composite cost-of-borrowing indicator for new loans to corporations decreased by 6 basis points to 1.42%, driven by the interest rate effect, with indicator for new loans to households for house purchase unchanged at 1.31%
Composite interest rate for new deposits with agreed maturity from corporations increased by 10 basis points to -0.10%, driven by the interest rate effect, with interest rate for overnight deposits from corporations unchanged at -0.01%
Composite interest rate for new deposits with agreed maturity from households broadly unchanged at 0.25%, with interest rate for overnight deposits from households unchanged at 0.01%

Bank interest rates for corporations

Data for cost of borrowing and deposit interest rates for corporations (Chart 1)
The composite cost-of-borrowing indicator, which combines interest rates on all loans to corporations, decreased, driven by the interest rate effect in March 2021. The interest rate on new loans of over €1 million with a floating rate and an initial rate fixation period of up to three months remained broadly unchanged at 1.16%. The rate on new loans of the same size with an initial rate fixation period of over three months and up to one year fell by 38 basis points to 0.84%. This decrease was due to developments in one euro area country and was driven by the interest rate effect. The interest rate on new loans of over €1 million with an initial rate fixation period of over ten years increased by 14 basis points to 1.29%. This increase was due to developments in three euro area countries and was driven by the interest rate effect. In the case of new loans of up to €250,000 with a floating rate and an initial rate fixation period of up to three months, the average rate charged fell by 4 basis points to 1.92%, driven by the interest rate effect.
As regards new deposit agreements, the interest rate on deposits from corporations with an agreed maturity of up to one year rose by 11 basis points to -0.11% in March 2021. This increase was due to developments in two euro area countries and was driven by the interest rate effect. The interest rate on overnight deposits from corporations stayed constant at -0.01%.
The interest rate on new loans to sole proprietors and unincorporated partnerships with a floating rate and an initial rate fixation period of up to one year decreased by 9 basis points to 1.94%, driven by the interest rate effect.

Data for bank interest rates for corporations (Table 1)

Bank interest rates for households

Data for cost of borrowing and deposit interest rate for households (Chart 2)
The composite cost-of-borrowing indicator, which combines interest rates on all loans to households for house purchase, showed no change in March 2021. The interest rate on loans for house purchase with a floating rate and an initial rate fixation period of up to one year remained broadly unchanged at 1.31%. The rate on housing loans with an initial rate fixation period of over one and up to five years fell by 5 basis points to 1.44%, driven by both the interest rate and the weight effects. The interest rate on loans for house purchase with an initial rate fixation period of over five and up to ten years remained broadly unchanged at 1.24%. The rate on housing loans with an initial rate fixation period of over ten years stayed constant at 1.32%. In the same period the interest rate on new loans to households for consumption decreased by 12 basis points to 5.10%. This decrease was due to developments in two euro area countries and was driven by the interest rate effect.
As regards new deposits from households, the interest rate on deposits with an agreed maturity of up to one year remained broadly unchanged at 0.18%. The rate on deposits redeemable at three months’ notice and the one on overnight deposits from households stayed constant at 0.35% and 0.01%, respectively.