The Central Bank of Cyprus (CBC) has announced that it will begin releasing detailed interest rate data for deposits and loans from various credit institutions on a monthly basis, starting in July 2024. This data will encompass weighted average interest rates based on information submitted by the institutions.
Specifically, for new household time deposits with a term of up to one year, the CBC reports the following interest rates:
2.00% from Alpha Bank Cyprus, 2.01% from Ancoria Bank Ltd, 1.79% from Astrobank, 2.49% from the National Bank of Greece (Cyprus), 1.42% from Hellenic Bank, 2.46% from Eurobank Cyprus, 1.72% from Cyprus Development Bank, 2.17% from the Housing Finance Corporation, 2.18% from Societe Generale, 1.35% from the Bank of Cyprus, and 2.27% from Jordan Ahli Bank PLC.
For new time deposits of up to one year from non-financial companies, the interest rates are as follows:
2.01% from Alpha Bank Cyprus, 2.25% from Ancoria Bank, 2.41% from Astrobank, 2.50% from the National Bank of Greece (Cyprus), 2.62% from Hellenic Bank, 2.18% from Eurobank Cyprus, 2.67% from Cyprus Development Bank, 0.52% from the Housing Finance Organisation, 2.56% from Societe Generale, 2.30% from the Bank of Cyprus, and 1.90% from Jordan Ahli Bank.
In terms of new loans for housing purchases for households, interest rates are reported as follows:
3.41% from Alpha Bank Cyprus, 4.08% from Ancoria Bank, 3.87% from Astrobank, 3.99% from Hellenic Bank, 4.79% from Eurobank Cyprus, 5.22% from Cyprus Development Bank, 2.96% from the Housing Finance Corporation, and 5.04% from the Bank of Cyprus.
For new loans of up to €1 million extended to non-financial companies, the interest rates are:
1.88% from Alpha Bank Cyprus, 5.77% from Ancoria Bank, 4.90% from Hellenic Bank, 5.69% from Eurobank Cyprus, 5.50% from Cyprus Development Bank, 7.38% from Societe Generale, and 5.72% from the Bank of Cyprus.
Regarding new loans exceeding €1 million for non-financial companies, the interest rates are:
5.14% from Ancoria Bank, 5.75% from the National Bank of Greece (Cyprus), 5.26% from Hellenic Bank, 4.72% from Eurobank Cyprus, 7.07% from Cyprus Development Bank, and 7.38% and 6.66% from the Bank of Cyprus.
For existing household time deposits with a maturity of up to 2 years, the interest rates are as follows:
2.20% from Alpha Bank Cyprus, 2.66% from Ancoria Bank, 1.52% from Astrobank, 2.73% from the National Bank of Greece (Cyprus), 0.42% from Hellenic Bank, 2.13% from Eurobank Cyprus, 1.98% from Cyprus Development Bank, 1.60% from the Housing Finance Corporation, 2.31% from Societe Generale, 0.81% from the Bank of Cyprus, 2.66% from the Arab Jordan Investment Bank, 2.44% from SBA, 2.35% from Jordan Ahli Bank, and 2.42% from Jordan Kuwait Bank.
For existing non-financial company time deposits of up to 2 years, the interest rates are:
2.45% from Alpha Bank Cyprus, 2.17% from Ancoria Bank, 2.25% from Astrobank, 2.40% from the National Bank of Greece (Cyprus), 1.65% from Hellenic Bank, 1.70% from Eurobank Cyprus, 2.43% from Cyprus Development Bank, 0.95% from the Housing Finance Corporation, 2.64% from Societe Generale, 2.05% from the Bank of Cyprus, 2.62% from Arab Jordan Investment Bank, 2.50% from SBA, 1.90% from Jordan Ahli Bank, and 2.22% from Jordan Kuwait Bank.
For existing home purchase loans with terms longer than 5 years for households, the interest rates are:
4.42% from Alpha Bank Cyprus, 4.00% from Ancoria Bank, 4.65% from Astrobank, 4.21% from the National Bank of Greece (Cyprus), 4.33% from Hellenic Bank, 4.90% from Eurobank Cyprus, 4.43% from Cyprus Development Bank, 2.93% from the Housing Finance Corporation, 3.68% from Societe Generale, and 5.18% from the Bank of Cyprus.
Finally, for existing loans with maturities exceeding 5 years for non-financial companies, the interest rates are as follows:
5.73% from Alpha Bank Cyprus, 6.03% from Ancoria Bank, 6.50% from Astrobank, 5.34% from the National Bank of Greece (Cyprus), 4.85% from Hellenic Bank, 5.63% from Eurobank Cyprus, 6.65% from Cyprus Development Bank, 6.63% from Societe Generale, 6.08% from the Bank of Cyprus, and 6.41% from SBA.
The CBC’s initiative to publish detailed interest rate data aims to enhance public access to essential financial information for households and businesses. The CBC emphasizes that future reports may include additional relevant data. For the latest interest rates and more specific inquiries, households and businesses are encouraged to directly contact the credit institutions.
