The Central Bank of Cyprus has published new data on the interest rates on deposits and loans offered by local financial institutions to the population of the island. The month under review was October 2024.
According to the analysis, the data varies considerably between different categories and banking institutions on the island. Below are detailed figures for each category of deposits and loans offered by banks in Cyprus.
For example, the highest interest rate on deposits up to 1 year for households was recorded by the National Bank of Greece at 2.48%. This is followed by Eurobank at 2.07%, Ancoria Bank at 1.88%, Alpha Bank at 1.83%, Cdbbank at 1.83%, Astrobank at 1.75%, Bank of Cyprus at 1.32%, Hellenic Bank at 1.5%, Housing Finance Organisation (HFO) at 1.65% and Societe Generale at 1.64%.
The interest rates for deposits with a maturity of up to 1 year for companies were:
- Astrobank - 3.11%;
- Bank of Cyprus - 2.5%;
- National Bank of Greece - 2.42%;
- Ancoria Bank - 2.03%;
- Bank of Cyprus - 2.5%;
- Alpha Bank - 2.01%;
- Hellenic Bank - 1.8%;
- Eurobank - 5.11%;
- Cdbbank - 2.67%;
- Housing Financing Organisation (OHS) - 0.52%;
- Societe Generale -2.56%.
In terms of interest rates on loans for house purchase, the following were recorded in this category:
- Alpha Bank - 3.34%;
- Ancoria Bank - 4.39%;
- Astrobank - 3.87%;
- Hellenic Bank - 3.68%;
- Eurobank - 5.11%;
- Cdbbank - 5.22%;
- Housing Finance Organisation (HFO) - 3.54%;
- Bank of Cyprus - 5.2%.
As a reminder, the Central Bank of Cyprus now publishes monthly data on deposit and lending rates offered by local financial institutions. It is expected that this initiative will help Cypriot households and businesses to better navigate the market.