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Economy

CBC: Increase to 6.67% interest rate for consumer loans in July

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ΚΤΚ: Αyξηση στ οοειοκτναωι κδνεια Ιολιο /></p> <p><strong>The interest rate for consumer loans rose to 6.67% in July compared to 6.18% the previous month, according to the Central Bank's statistics on interest rates of Monetary Financial Institutions, while new consumer loans increased to €28.0 million compared to €21.7 million in the previous month.</strong></p> <p>The interest rate on home loans increased to 4.59%, compared to 4.52% the previous month.</p> <p>The Central Bank of Cyprus (CBC) published on Tuesday the average interest rate statistics of the monetary financial institutions of Cyprus for deposits and loans of eurozone residents in euros, as well as data on amounts of new loans to eurozone residents in euros for the reference month July 2024.</p> <p>The interest rate for deposits with a term of up to one year from households decreased to 1.96%, compared to 2.17% the previous month, according to a CBC announcement.</p> <p>The corresponding interest rate for deposits from non-financial companies showed a decrease to 2.28%, compared to 2.35% the previous month.</p> <p>In addition, the interest rate on consumer loans increased to 6.67%, compared to 6.18% the previous month.</p> <p>The interest rate on home equity loans increased to 4.59%, compared to 4.52% the previous month.</p> <p>The interest rate for loans to non-financial companies for amounts up to €1 million showed an increase to 5.57%, compared to 5.45% the previous month. The interest rate regarding loans to non-financial companies for amounts over €1 million recorded an increase to 5.64%, compared to 5.33% the previous month, it is reported.</p> <p>As regards the amounts of new loans, in July 2024 total new loans showed an increase and reached €595.3 million, compared to €514.9 million in the previous month.</p> <p>According to Central Bank data, new consumer loans increased to €28.0 million (of which €26.1 million were net new loans), compared to €21.7 million in the previous month (of which €20.3m net new loans).</p> <p>New loans for housing purchase showed an increase to €134.3m (of which €100.7m net new loans), compared with €129.9 million in the previous month (of which €107.1 million were net new loans).</p> <p>New loans to non-financial companies for amounts up to €1 million decreased to € 74.5m (of which €48.5m net new loans), compared to €77.8m the previous month (of which €53.9m net new loans).</p > <p>New loans to non-financial companies for amounts above €1 million recorded an increase to €345.2 million (of which €211.8 million were net new loans), compared to €272.4 million in the previous month (of which €149.3 million were net new loans).</p> <p>It is noted that the figures in question are included in the Monetary and Financial Statistics edition, August 2024.</p> <p><noindex></p> <div class=Source: 24h.com.cy

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