- 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 1.33%
- Composite interest rate for new deposits with agreed maturity from corporations increased by 4 basis points to -0.13%, 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 increased by 4 basis points to 0.26%, driven by both the interest rate and the weight effects, 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, showed no change in January 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 decreased by 16 basis points to 1.18%. This decrease was due to developments in two euro area countries 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 4 basis points to 1.19%, driven by the interest rate effect. The rate for new loans of over €1 million with an initial rate fixation period of over ten years increased by 4 basis points to 1.21%, driven by the weight 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 increased by 12 basis points to 2.16%. This increase was due to developments in one euro area country and was 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 5 basis points to -0.15% in January 2021, 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 4 basis points to 2.01%, driven by the weight effect.
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 January 2021. The interest rate on loans for house purchase with a floating rate and an initial rate fixation period of up to one year showed no change at 1.35%. The interest rate on housing loans with an initial rate fixation period of over one and up to five years stayed almost constant at 1.50%. 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 remained broadly unchanged at 1.29% and 1.35%, respectively. In the same period, the interest rate on new loans to households for consumption rose by 20 basis points to 5.26%. This increase was due to developments in three 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 0.19% in January 2021. The interest rate on deposits redeemable at three months’ notice and the one on overnight deposits from households showed no change at 0.35% and 0.01%, respectively.
Further information
Tables containing further breakdowns of bank interest rate statistics, including the composite cost-of-borrowing indicators for all euro area countries, are available from the ECB’s Statistical Data Warehouse. A subset is visually presented at www.euro-area-statistics.org. The full set of bank interest rate statistics for both the euro area and individual countries can be downloaded from SDW. More information, including the release calendar, is available under “Bank interest rates” in the statistics section of the ECB’s website.
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