Bank interest rates for corporations
The composite cost-of-borrowing indicator, which combines interest rates on all loans to corporations, remained broadly unchanged in January 2024. 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 10 basis points to 5.15%, mainly driven by the interest rate effect. The rate on new loans of the same size with an initial rate fixation period of over three months and up to one year fell by 9 basis points to 5.00%, driven by both the interest rate and the weight effects. The interest rate on new loans of over €1 million with an initial rate fixation period of over ten years decreased by 8 basis points to 3.79%. 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 rose by 32 basis points to 5.80%.
As regards new deposit agreements, the interest rate on deposits from corporations with an agreed maturity of up to one year stayed almost constant at 3.69% in January 2024. The interest rate on overnight deposits from corporations rose by 6 basis points to 0.89%. 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 increased by 7 basis points to 5.74%.
Bank interest rates for households
The composite cost-of-borrowing indicator, which combines interest rates on all loans to households for house purchase, decreased in January 2024, driven by the interest rate effect. The interest rate on loans for house purchase with a floating rate and an initial rate fixation period of up to one year decreased by 6 basis points to 4.80%. The rate on housing loans with an initial rate fixation period of over one and up to five years fell by 13 basis points to 4.10%. The interest rate on loans for house purchase with an initial rate fixation period of over five and up to ten years decreased by 14 basis points to 3.67%. The rate on housing loans with an initial rate fixation period of over ten years fell by 11 basis points to 3.52%. In the same period the interest rate on new loans to households for consumption increased by 32 basis points to 8.02%.
As regards new deposits from households, the interest rate on deposits with an agreed maturity of up to one year decreased by 8 basis points to 3.21%. The rate on deposits redeemable at three months' notice stayed almost constant at 1.67%. The interest rate on overnight deposits from households remained broadly unchanged at 0.38%.
Further information
The data in Tables 1 and 2 can be visualised for individual euro area countries on the bank interest rate statistics dashboard. Additionally, 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 Data Portal. A subset is visually presented on the Euro Area Statistics dedicated website. The full set of bank interest rate statistics for both the euro area and individual countries can be downloaded from ECB Data Portal. More information, including the release calendar, is available under "Bank interest rates" in the statistics section of the ECB's website.
