CBC publishes credit institutions' interest rates for July 2024

The Central Bank of Cyprus (CBC) has published detailed interest rate data for deposits and loans for each credit institution, noting that it will publish on a monthly basis, starting from July 2024, detailed weighted average interest rate data on the basis of information sent to it by credit institutions.

More specifically, with regard to new time deposits up to 1 year from households, the CBC data reports an interest rate of 2% from Alpha Bank Cyprus, 2.01% from Ancoria Bank Ltd, 1.79% from Astrobank, 2.49% from the National Bank of Greece (Cyprus), 1.42% from Hellenic Bank, 2.46% from Eurobank Cyprus, 1.72% from Cyprus Development Bank, 2.17% from the Housing Finance Corporation, 2.18% from Societe Generale, 1.35% from the Bank of Cyprus and 2.27% from Jordan Ahli Bank PLC.

As for new deposits of up to 1 year term from non-financial companies, the data reports an interest rate of 2.01% from Alpha Bank Cyprus, 2.25% from Ancoria Bank, 2.41% from Astrobank, 2.50% from National Bank of Greece (Cyprus), 2.62% from Hellenic Bank, 2.18% from Eurobank Cyprus, 2.67% from Cyprus Development Bank, 0.52% from Housing Finance Organisation, 2.56% from Societe Generale, 2.30% from the Bank of Cyprus and 1.90% from Jordan Ahli Bank.

Regarding new loans for the purchase of housing for households, interest rates of 3,41% from Alpha Bank Cyprus, 4,08% from Ancoria Bank, 3,87% from Astrobank, 3,99% from Hellenic Bank, 4,79% from Eurobank Cyprus, 5,22% from Cyprus Development Bank, 2,96% from Housing Finance Corporation and 5,04% from the Bank of Cyprus are reported.

For new loans up to €1 million to non-financial companies the interest rates are as follows: 1.88% from Alpha Bank Cyprus, 5.77% from Ancoria Bank , 4.90% from Hellenic Bank, 5.69% from Eurobank Cyprus, 5.50% from Cyprus Development Bank, 7.38% from Societe Generale and 5.72% from the Bank of Cyprus.

For new loans over €1 million to non-financial companies, the interest rates are as follows: 5.14% from Ancoria Bank , 5.75% from the National Bank of Greece (Cyprus), 5.26% from the Hellenic Bank, 4.72% from Eurobank Cyprus, 7.07% from the Cyprus Development Bank, 7.38% and 6.66% from the Bank of Cyprus.

The interest rates for existing time deposits up to 2 years from households are 2.20% from Alpha Bank Cyprus, 2.66% from Ancoria Bank, 1.52% from Astrobank, 2.73% from National Bank of Greece (Cyprus), 0.42% from Hellenic Bank, 2,13% from Eurobank Cyprus, 1.98% from Cyprus Development Bank, 1.60% from Cyprus Housing Finance Corporation, 2.31% from Societe Generale, 0.81% from the Bank of Cyprus, 2.66% from the Arab Jordan Investment Bank, 2.44% from SBA, 2.35% from Jordan Ahli Bank and 2.42% from Jordan Kuwait Bank.

For the existing time deposits up to 2 years from non-financial companies, the interest rates are as follows: 2.45% from Alpha Bank Cyprus, 2.17% from Ancoria Bank, 2.25% from Astrobank, 2.40% from National Bank of Greece (Cyprus), 1.65% from Hellenic Bank, 1.70% from Eurobank Cyprus, 2.43% from Cyprus Development Bank, 0.95% from the Housing Finance Corporation, 2.64% from Societe Generale, 2.05% from t he Bank of Cyprus, 2.62% from Arab Jordan Investment Bank, 2.50% from SBA, 1.90% from Jordan Ahli Bank and 2.22% from Jordan Kuwait Bank.

For existing home purchase loans with a term of more than 5 years to households, the interest rates are 4.42% from Alpha Bank Cyprus, 4% from Ancoria Bank, 4.65% from Astrobank, 4.21% from National Bank of Greece (Cyprus), 4.33% from Hellenic Bank, 4.90% from Eurobank Cyprus, 4.43% from Cyprus Development Bank, 2.93% from the Housing Finance Corporation, 3.68% from Societe Generale and 5.18% from the Bank of Cyprus.

Finally, for existing loans with a maturity of more than 5 years to non-financial companies, the interest rates are 5,73% from Alpha Bank Cyprus, 6,03% from Ancoria Bank, 6,50% from Astrobank, 5, 34% from National Bank of Greece (Cyprus), 4.85% from Hellenic Bank, 5.63% from Eurobank Cyprus, 6.65% from Cyprus Development Bank, 6.63% from Societe Generale, 6.08% from the Bank of Cyprus and 6.41% from SBA.

It is noted that the publication of detailed interest rate data contributes to easier information for the public, providing households and businesses with direct access to more comprehensive information, adding that future publications may be enriched with additional relevant information.

Households and businesses will continue to contact the credit institutions themselves for information on the interest rates offered, the press release concluded.

(Source: CNA)