Euro area bank interest rate statistics: January 2022

Composite cost-of-borrowing indicator for new loans to corporations increased by 7 basis points to 1.43%, driven by the interest rate effect, with indicator for new loans to households for house purchase broadly unchanged at 1.33%
Composite interest rate for new deposits with agreed maturity from corporations broadly unchanged at -0.30%, with interest rate for overnight deposits from corporations broadly unchanged at -0.04%
Composite interest rate for new deposits with agreed maturity from households broadly unchanged at 0.24%, with interest rate for overnight deposits from households unchanged at 0.01%

Bank interest rates for corporations

Data for cost of borrowing and deposit interest rates for corporations (Chart 1)

The composite cost-of-borrowing indicator, which combines interest rates on all loans to corporations, increased, driven by the interest rate effect in January 2022. 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 remained broadly unchanged at 1.13%. The rate on new loans of the same size with an initial rate fixation period of over three months and up to one year rose by 27 basis points to 1.24%. This increase was due to developments in three euro area countries and was mainly driven by the interest rate effect. The interest rate on new loans of over €1 million with an initial rate fixation period of over ten years increased by 20 basis points to 1.39%. This increase was due to developments in three euro area countries and was mainly driven by the interest rate effect. 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 7 basis points to 1.91%, driven by the interest rate effect.
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 -0.32% in January 2022. The interest rate on overnight deposits from corporations stayed almost constant at -0.04%.
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 10 basis points to 1.98%. This increase was due to developments in two euro area countries and was driven by the interest rate effect.

Data for bank interest rates for corporations (Table 1)

Bank interest rates for households

Data for cost of borrowing and deposit interest rate for households (Chart 2)

The composite cost-of-borrowing indicator, which combines interest rates on all loans to households for house purchase, remained broadly unchanged in January 2022. The interest rate on loans for house purchase with a floating rate and an initial rate fixation period of up to one year remained broadly unchanged at 1.35%. The rate on housing loans with an initial rate fixation period of over one and up to five years stayed constant at 1.46%. The interest rate on loans for house purchase with an initial rate fixation period of over five and up to ten years and the one on housing loans with an initial rate fixation period of over ten years remained broadly unchanged at 1.31% and 1.32%, respectively. In the same period the interest rate on new loans to households for consumption rose by 24 basis points to 5.30%. This increase was due to developments in three euro area countries and was mainly driven by the interest rate effect.
As regards new deposits from households, the interest rate on deposits with an agreed maturity of up to one year remained broadly unchanged at 0.19%. The rate on deposits redeemable at three months’ notice and the one on overnight deposits from households stayed constant at 0.35% and 0.01%, respectively.