- Composite cost-of-borrowing indicator for new loans to corporations unchanged at 1.51%, with indicator for new loans to households for house purchase broadly unchanged at 1.32%
- Composite interest rate for new deposits with agreed maturity from corporations broadly unchanged at -0.17%, with interest rate for overnight deposits from corporations unchanged at -0.01%
- Composite interest rate for new deposits with agreed maturity from households and for overnight deposits from households broadly unchanged at 0.22% and 0.01%, respectively
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, showed no change in December 2020. 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 increased by 13 basis points to 1.35%. This increase was due to developments in one euro area country and was mainly driven by the interest rate effect. The rate for new loans of the same size with an initial rate fixation period of over three months and up to one year decreased by 6 basis points to 1.23%, mainly driven by the weight effect. The rate for new loans of over €1 million with an initial rate fixation period of over ten years remained broadly unchanged at 1.17%. 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 increased by 5 basis points to 2.05%, mainly driven by the weight effect.
As regards new deposit agreements, the interest rate on deposits from corporations with an agreed maturity of up to one year stayed almost constant at -0.20% in December 2020. 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 15 basis points to 2.05%. This decrease was due to developments in two euro area countries and was 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, remained broadly unchanged in December 2020. The interest rate on loans for house purchase with a floating rate and an initial rate fixation period of up to one year and the one for housing loans with an initial rate fixation period of over one and up to five years remained broadly unchanged at 1.35% and 1.52%, respectively. The interest rate on loans for house purchase with an initial rate fixation period of over five and up to ten years and the one on housing loans with an initial rate fixation period of over ten years stayed almost constant at 1.27% and 1.33%, respectively. In the same period, the interest rate on new loans to households for consumption fell by 15 basis points to 5.07%. This decrease was due to developments in three euro area countries and was driven by both the interest rate and the weight effect.
As regards new deposits from households, the interest rate on deposits with an agreed maturity of up to one year and the one on overnight deposits from households remained broadly unchanged at 0.16% and 0.01%, respectively. The interest rate on deposits redeemable at three months’ notice showed no change at 0.35%.
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