An increase in consumer loan rates and a decrease in mortgage rates were recorded in March, while deposit rates for households also increased, according to the monetary and financial institutions\u2019 interest rate statistics for Cyprus released by the Central Bank.
\nAccording to the same data, the total amount of new lending decreased by \u20ac79 million in March compared to the previous month.
\nAccording to the Central Bank of Cyprus, the interest rate for fixed-term deposits of up to one year from households increased to 2.24%, compared to 1.98% in the previous month. The corresponding interest rate for deposits from non-financial corporations decreased to 2.24%, compared to 2.53% in the previous month.
\nThe interest rate on consumer loans increased to 6.19%, compared to 6.17% in the previous month. In contrast, the interest rate on housing loans decreased to 4.75%, compared to 5.15%. The interest rate on loans to non-financial corporations for amounts up to \u20ac1 million fell to 5.52%, compared to 5.91% in the previous month, as did the interest rate on loans to non-financial corporations for amounts above \u20ac1 million, which decreased to 5.88%, compared to 6.07% in the previous month.
\nIn March 2024, total new loans decreased to \u20ac496.4 million, compared to \u20ac575.5 million in the previous month, the CBC reports.
\nSpecifically, new consumer loans decreased to \u20ac22.2 million, of which \u20ac20.5 million concerned net new loans, compared to \u20ac23.2 million in the previous month, of which \u20ac21.3 million were net new loans.
\nNew housing loans decreased to \u20ac119.6 million, of which \u20ac86.9 million were net new loans, compared to \u20ac144.1 million in the previous month, of which \u20ac79.2 million were net new loans.
\nNew loans to non-financial corporations for amounts up to \u20ac1 million increased to \u20ac69.3 million, of which \u20ac52.2 million were net new loans, compared to \u20ac57.3 million in the previous month, of which \u20ac37.6 million were net new loans.
\nFinally, new loans to non-financial corporations for amounts above \u20ac1 million decreased to \u20ac270.8 million, of which \u20ac123.8 million were net new loans, compared to \u20ac340.7 million in the previous month, of which \u20ac124.4 million were net new loans.
\nThese data are included in the April 2024 edition of \u2018Monetary and Financial Statistics\u2019 published by the Central Bank.interest rates. consumer loan rates, mortgage rates, deposit rates<\/p>\n","protected":false},"excerpt":{"rendered":"
In March, consumer loan rates increased while mortgage rates decreased in Cyprus. Deposit rates for households also rose, with new lending decreasing by \u20ac79 million compared to the previous month. The interest rate for fixed-term deposits for households increased to 2.24%, while the interest rate for non-financial corporations decreased to the same percentage. Total new loans in March amounted to \u20ac496.4 million, with new consumer loans decreasing to \u20ac22.2 million and new housing loans decreasing to \u20ac119.6 million. New loans to non-financial corporations for amounts up to \u20ac1 million increased, while loans for amounts above \u20ac1 million decreased. These statistics were published in the April 2024 edition of ‘Monetary and Financial Statistics’ by the Central Bank of Cyprus.<\/p>\n","protected":false},"author":5,"featured_media":11107,"comment_status":"open","ping_status":"closed","sticky":false,"template":"Default","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[8625,1902,39,611,4601,66,9327,5099,113,3,2369,1992,595,612,26,5240,1932,6654,3725,1823,613,2828,899,374,900,4074,7776,9328,8183,3814,114],"class_list":["post-11106","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-other","tag-april","tag-bank","tag-bank-of-cyprus","tag-banks","tag-central-bank","tag-central-bank-of-cyprus","tag-consumer-loan-rates","tag-corporations","tag-cost-of-living-crisis","tag-cyprus","tag-data","tag-decrease","tag-deposit-rates","tag-deposits","tag-economy","tag-financial-institutions","tag-fixed-term-deposits","tag-housing","tag-housing-loans","tag-increase","tag-insider-economy","tag-institutions","tag-interest","tag-interest-rate","tag-loan","tag-loans","tag-march","tag-mortgage-rates","tag-released","tag-statistics","tag-top-news"],"acf":{"keyphrase":"","keywords":"","sourceimg":"","country-category":""},"yoast_head":"\n