Central Bank of Cyprus reports February interest rate data

In February, the Central Bank of Cyprus reported that the average interest rate for new housing loans in Cyprus was 3.04 percent, compared to the eurozone average of 3.41 percent. New household term deposits up to one year averaged 1.19 percent, below the eurozone average of 1.78 percent. For new mortgages, the National Bank of Greece offered the lowest rate at 2.01 percent, while Societe Generale recorded the highest at 5.14 percent. Existing housing loans averaged 3.50 percent, higher than the eurozone average of 2.46 percent, with the Bank of Cyprus having the highest rate at 3.73 percent and the Housing Finance Corporation the lowest at 2.96 percent. New business loans under 1 million euros averaged 4.06 percent, ranging from Eurobank at 3.76 percent to Banque SBA at 6.34 percent. Business loans exceeding 1 million euros averaged 3.85 percent, with the Bank of Cyprus offering the lowest rate of 2.89 percent and the Cyprus Development Bank the highest at 4.50 percent.