Nicosia: The Central Bank of Cyprus has published statistics on the average interest rates applied by monetary financial institutions (MFIs) in Cyprus on deposits and loans for euro area residents, as well as data on volumes of new euro-denominated loans for April 2025. This information is part of the May 2025 edition of Monetary and Financial Statistics, with comparative eurozone data available from the European Central Bank’s Data Portal.
According to Cyprus News Agency, the data reveals changes in interest rates on new deposit and loan contracts, including those renegotiated. For deposit rates, there was a decrease in the interest rate for household deposits with an agreed maturity of up to one year, which fell to 1.26% from 1.41% the previous month. In contrast, the interest rate for deposits from non-financial corporations increased to 1.37%, compared to 1.31% the previous month.
In terms of lending rates, the interest rate on consumer credit saw a reduction to 7.06% from 7.40% the previous month. Similarly, the interest rate for house purchase loans decreased to 3.78% from 4.56%. Loans to non-financial corporations for amounts up to £1 million saw a rate decrease to 4.65% from 4.96%, whereas loans for amounts over £1 million recorded an increase to 4.13% from 3.87%.
The total amount of new loans decreased to £682.2 million in April 2025, down from £964.2 million the previous month. New loans for consumption fell to £21.8 million, down from £24.5 million, and loans for house purchases decreased to £161.8 million from £188.2 million. New loans to non-financial corporations for amounts up to £1 million dropped to £68.5 million from £82.4 million, while loans for amounts over £1 million decreased to £414.2 million from £661.9 million.