What are the interest rates on loans and deposits offered by Cypriot banks?

On Monday 14th October the Central Bank of Cyprus published its new monthly report on the interest rates on deposits and loans offered by local financial institutions to the island's population.

According to the island nation's main financial institution, the highest interest rate on deposits of up to 1 year for households in August 2024 was recorded by the National Bank of Greece (2.45 per cent compared to 2.49 per cent in July). It was followed by OHS Housing Finance Organisation (2.12% vs. 2.17%), Eurobank (2.08% vs. 2.46%) and Societe Generale (1.98% vs. 2.18%). Ancoria Bank and Alpha Bank offered deposits at 1.91% and 1.83% respectively. Finally, Astrobank offered 1.6%, Cdbbank 1.68%, Bank of Cyprus 1.59% and Hellenic Bank 1.36%.

The interest rates on corporate deposits with a maturity of up to 1 year were as follows:

1. Alpha Bank - 2.28%;
2. Ancoria Bank - 2.25%;
3. National Bank of Greece - 2.5%;
4. Hellenic Bank - 2.83%;
5. Eurobank - 2.13%;
6. Housing Finance Organisation (HFO) - 2.52%;
7. Bank of Cyprus - 2.1%.

As regards interest rates on housing loans for households, the following figures were recorded in this category:

1. Alpha Bank - 4.19 per cent;
2. Ancoria Bank - 4.32%;
3. Astrobank - 4.6%;
4. Hellenic Bank - 4.45%;
5. Eurobank - 4.65%;
6. Cdbbank - 4.96%;
7. Housing Finance Organisation (HFO) - 3.02%;
8. Bank of Cyprus - 4.36%.