Central Bank of Cyprus Reports Decline in Deposit Rates for April

The Central Bank of Cyprus released a report this week indicating a decline in deposit rates for April, with loan interest rates showing fluctuations across different categories during the same period.

Specifically, the interest rate for household deposits with a maturity of up to one year fell to 2.16 percent, compared to 2.24 percent in the previous month. Similarly, the interest rate for deposits from non-financial corporations decreased to 1.82 percent, down from 2.24 percent the previous month.

Regarding loan interest rates, the rate for consumer loans increased to 6.43 percent, compared to 6.19 percent in the previous month. Meanwhile, the interest rate for housing loans saw a slight decrease to 4.70 percent, compared to 4.75 percent the previous month.

For loans to non-financial corporations up to €1 million, the interest rate rose to 5.58 percent, from 5.52 percent the previous month. Conversely, the interest rate for loans to non-financial corporations over €1 million decreased to 5.80 percent, compared to 5.88 percent the previous month.

By fLEXI tEAM