Insider Business Interest rate for corporate deposits drops to new historic low in November...

Interest rate for corporate deposits drops to new historic low in November 2018

The interest rate on corporate deposits Cyprus declined to 0.46% in November from 0.75% the month before, reaching a new historic low, according to data released today by the Central Bank of Cyprus (CBC).

Households deposit interest rate remained unchanged at 0.54%, the CBC said.

The rates for consumer loans marked a marginal increase in November reaching 3.49% compared with the historic low of 3.48% in October 2018.

According to the CBC, the rates for housing loans increased to 2.29% in November 2018 from 2.26% the month before.

Corporate loans rates for amounts up to €1 million increased to 3.53% in November compared with 3.49% the previous month.

The rates for corporate loans above €1 million declined to 3.21% compared with 3.26% in October 2018.

In November 2018 new loans declined to €246.4 million compared with €292.1 million in October 2018.

New consumer lending remained unchanged to 13.3 million in November, while new housing loans increased to €82.8 million compared with €69.2 million in the previous month.

New corporate loans for amounts up to €1 million declined to €41.8 million compared with €43.5 million in the previous month.

According to the CBC, new corporate loans for amounts over €1 million declined to €91 million compared with €144.8 million in October 2018.

(Cyprus News Agency)

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