On Monday, 6 May, the Central Bank published information about changes in interest rates on loans and deposits in Cyprus in March 2025.
The island nation's main financial institution says that rates on money people put into banks fell in the third month of the new year. At the same time, there were mixed trends in interest rates on deposits.
Interest rates on deposits
The interest rate on term deposits of up to one year for households in March 2025 went down from 1.51% to 1.41%. The interest rate on deposits from non-financial corporations went down from 1.54% in February 2025 to 1.31%.
Interest rates on loans
The interest rate on consumer loans went up from 7.11% to 7.4% compared to the previous month. The interest rate on housing loans stayed the same at 4.56%. This change is mostly because of changes in the types of housing loans that Cypriot banks offer. These loans have different levels of risk, so they also have different interest rates.
The interest rate on loans to non-financial corporations for amounts up to €1 million went up from 4.66% in February 2025 to 4.96%. Finally, the interest rate on loans to non-financial corporations for amounts over €1 million went down from 4.48% to 3.87% in the last month.
The Central Bank of Cyprus said that the interest rate in Cyprus goes up and down depending on the size of the key rate, which is always changing.