In September 2026, Cypriot banks offered depositors lower interest rates than the eurozone average. At the same time, mortgage loans on the island were cheaper than in most countries of the currency union.
These figures were published by the Central Bank of Cyprus (CBC). The statistics show the interest rates financial institutions offered on new deposits and loans in September 2026.
Interest Rates on Bank Deposits in Cyprus
The average interest rate on new retail deposits with a maturity of up to one year in Cyprus was 1.62%. By comparison, the eurozone average stood at 2.33%.
For businesses, the difference was even more pronounced: the average rate on new time deposits from non-financial organizations in Cyprus was 1.7%, compared to 2.46% in the eurozone. Among banks offering retail deposits with terms of up to one year, the highest rates were recorded at the following institutions:
Ancoria Bank — 1.88%;
National Bank of Greece (Cyprus) — 1.83%;
Eurobank — 1.7%;
Alpha Bank Cyprus — 1.6%;
Cyprus Development Bank — 1.57%;
Société Générale Bank Cyprus — 1.52%;
Bank of Cyprus — 1.34%;
Housing Finance Corporation — 0.99%.
The terms for corporate deposits differed:
Alpha Bank Cyprus — 1.98%;
National Bank of Greece (Cyprus) — 1.96%;
Eurobank — 1.75%;
Cyprus Development Bank — 1.57%;
Bank of Cyprus — 1.31%;
Housing Finance Corporation — 0.99%;
Société Générale Bank Cyprus — 0.9%.
Thus, even among Cypriot banks, the difference in deposit interest rates is quite significant. However, on the whole, depositors on the island receive a lower interest rate than bank customers in the eurozone.
Mortgages in Cyprus: Where Are the Lowest Rates?
The situation with home loans is the opposite. In September 2026, the average interest rate on new residential mortgages in Cyprus was 3.24%. In the eurozone, the corresponding figure reached 3.64%.
Among the banks for which data was published, Alpha Bank Cyprus offered the most favorable rate—2.8%. At other institutions, the rates were as follows:
Eurobank—3.21%;
Ancoria Bank — 3.27%;
Bank of Cyprus — 3.37%;
Housing Finance Corporation — 3.55%.
Thus, the difference between the lowest and highest rates among the listed institutions was 0.75 percentage points.
How Much Do Business Loans Cost in Cyprus
Interest rates on business loans depend on the loan amount. For new loans of up to 1 million euros, the average rate in Cyprus was 4.67%. At individual banks, the rates were as follows:
Alpha Bank Cyprus — 4.28%;
Eurobank — 4.34%;
National Bank of Greece (Cyprus) — 4.4%;
Bank of Cyprus — 4.86%;
Société Générale Bank Cyprus — 5.7%;
Banque SBA — 7.46%;
Cyprus Development Bank — 7.9%.
For loans exceeding 1 million euros, the average interest rate was lower—4.15%. In this category, Alpha Bank Cyprus recorded the lowest rate—3.81%. Next are Bank of Cyprus—4.22%, Eurobank—4.42%, Ancoria Bank—4.44%, and National Bank of Greece (Cyprus)—4.59%.
The statistics show that lending terms in Cyprus can vary significantly depending on the bank and the loan amount. The difference is particularly noticeable for small business loans.