The average interest rate on new home loans rose to 2.23% in September, from 2.01% in August, the highest value since October 2015, the BdP announced on Thursday.
“The average interest rate on new home loans has risen to 2.23% (2.01% in August), the highest since October 2015,” writes the Bank of Portugal (BdP) in its monthly note with statistical information on interest rates and amounts to new loans and deposits.
According to him, “this evolution is in line with the increase in the average Euribor rates in August”, 87% of the amount of new home loans uses the Euribor index for six or twelve months.
As for new consumer loans, the average interest rate fell to 7.85% (7.94% in August).
According to data released today by the BdP, the banks extended a total of EUR 2,006 million in new loans to private individuals in September, EUR 136 million more than in August.
Of this total amount, 1,338 million euros came for mortgages, 467 million euros for consumer credit and 201 million euros for loans for other purposes. The values recorded in August were 1,217, 482 and 171 million euros respectively.
The amount of new deposits from private individuals fell in September to 3,901 million euros (4,124 million euros in August), with the average interest rate falling to 0.05%.
“In September, the amount of new time deposits from individuals amounted to 3,901 million euros, of which 3,445 were invested in term deposits of up to one year, remunerated at an average interest rate of 0.05%,” adds the BdP.
New corporate deposits amounted to 1,112 million euros, of which 1,066 million euros were invested in term deposits with a maturity of up to one year, remunerated at an average interest rate of 0.25%.
New loans granted by banks to companies amounted to 1,815 million euros in September, 534 million euros more than in the previous month.
According to the BdP, “an amount analysis shows that 966 million euros were lent up to 1 million euros (822 million in August) and 849 million euros in loans over 1 million euros (460 million in August)”.
The average interest rate on loans to companies rose again to 3.04% (2.73% in August), with the average interest rate on both loans rising to one million euros (from 2.96% to 3.30%) , as on loans above one million euros (from 2.32% to 2.74%).
On 2 December, the BdP will update the statistics on interest rates and amounts of new loans and bank deposits from companies and private individuals.
Source: DN
