According to the Bank of Greece, deposit rates and loan rates increased in November 2023 with the result that the margin between them remained unchanged at 5.92%.
In more detail, according to data from the Bank of Greece, the average weighted deposit rates and loan rates increased to 0.50% and 6.25% respectively, with the result that the interest margin between existing deposits and loans remained almost unchanged at 5, 92%.
In particular, the average interest rate on overnight deposits from households remained unchanged at 0.03%, while the corresponding interest rate on corporate deposits increased by 4 basis points to 0.22%.
The average interest rate on deposits with an agreed term of up to 1 year from households remained almost unchanged at 1.79%. The corresponding interest rate on corporate deposits increased by 8 basis points and stood at 3.14%.
On the loans side, the average interest rate on consumer loans without a fixed term (a category that includes credit card loans, open loans and overdrafts from current accounts) increased by 6 basis points and stood at 14.96%.
The average interest rate on fixed-term and variable-rate consumer loans was almost unchanged at 12.61%, while the average interest rate on variable-rate mortgages was unchanged at 5.10%.
According to newsit, the average interest rate on business loans without a fixed term remained almost unchanged at 6.87%. The corresponding interest rate on business loans also remained almost unchanged at 7.77%.
The average interest rate on new fixed-term and variable-rate business loans increased by 11 basis points in November 2023 to 6.04%. The average interest rate on regular maturity loans with a variable interest rate to small and medium enterprises (SMEs) increased by 26 basis points and stood at 6.23%.
Regarding the structure of interest rates in terms of the amount of the loan, it is noted that the average interest rate for loans up to 250,000 euros increased by 8 basis points to 5.79%, for loans from 250,001 to 1 million euros it increased by 39 basis points and stood at 6.15%, while for loans over 1 million euros it increased by 5 basis points and stood at 6.04%.
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