Which bank in Cyprus offers the most favourable loan and deposit rates?

On Monday 11th November 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 population of the island.

According to the report, the highest interest rate on deposits of up to 1 year for households in September 2024 was recorded by Eurobank (2.83% vs. 2.08% in August). This is followed by the National Bank of Greece (2.46% vs. 2.45%), OHS Housing Finance Organisation (2.13% vs. 2.12%), CDB bank (2.05% vs. 1.68%). Alpha Bank and Ancoria Bank offered deposits at 1.95% and 1.92% respectively. Astrobank paid 1.71%, Bank of Cyprus 1.19% and Hellenic Bank 1.43%.

The interest rates on deposits with a maturity of up to 1 year for companies were:

1. Alpha Bank - 2.77%;
2. Astrobank - 2.45%;
3. Housing Finance Organisation (HFO) - 2.82%;
4. Bank of Cyprus - 2.45%.

With regard to interest rates on household loans for house purchase, the following figures were recorded in this category:

1. Alpha Bank - 2.9%;
2. Ancoria Bank - 4.28%;
3. Astrobank - 4.6%;
4. Hellenic Bank - 4.12%;
5. Eurobank - 4.99%;
6. Cdbbank - 5.22%;
7. Housing Finance Organisation (HFO) - 3.26%;
8. Bank of Cyprus - 5.11%.

As a reminder, the Central Bank of Cyprus now publishes monthly data on interest rates on deposits and loans offered by local financial institutions. It is expected that this initiative will help Cypriot households and businesses to better navigate the market.