Interest rates of monetary financial institutions in the Czech Republic

Interest rates on new business

Interest rates on new deposits of households recorded the largest change for deposits with agreed maturity in October. As regards non-financial corporations, interest rates on deposits in the same category saw the largest change.

The interest rate on household deposits with agreed maturity rose by 0.12 percentage point to 0.57%. At 0.12%, the interest rate on overnight deposits was the same as in September. Interest rates on current account deposits remained flat at April's 0.03%. The interest rate on deposits redeemable at notice was also flat, at August's 1.16% (the only rate to include, besides the household sector, similar deposits of non-financial corporations, which are negligible in this category).

The rate on deposits of non-financial corporations with agreed maturity picked up by 0.03 percentage point to 0.16%. The interest rate on overnight deposits was 0.04%, unchanged from August. Interest rates on current account deposits again stayed at its July level of 0.03%. Deposits with agreed maturity of up to one year (which as a rule account for 100% of all deposits with agreed maturity in the case of this sector) were remunerated at a slightly higher rate (0.16%).

Interest rates of commercial banks on CZK deposits held by Czech residents - new business

Within interest rates on new loans to households, building society loans saw the largest change in October. Interest rates on loans to non-financial corporations recorded the biggest change for loans of up to CZK 7.5 million.

The overall interest rate on consumer credit, loans for house purchase and other loans dropped to 3.28%. The interest rate on consumer credit fell month on month to 7.87%. The rate on loans for house purchase decreased to 2.19%. Building society loans were remunerated at 3.24%, down by 0.14 percentage point. The interest rate on mortgage loans also declined, to 2.08%, down by 0.34 percentage point on a year earlier. The interest rate on other loans decreased to 3.06%. The interest rate on credit cards rose marginally to 18.33%. The interest rate on overdrafts and revolving loans dropped to 12.12%.

The interest rate on new loans to non-financial corporations (excluding overdrafts, revolving loans and credit cards) increased to 1.63%. The rate on loans of up to CZK 7.5 million declined by 0.25 percentage point to 3.47%. The rate on loans of over CZK 7.5 million and up to CZK 30 million increased to 2.47% and the rate on new loans of over CZK 30 million also rose, reaching 1.39%. The interest rate on overdrafts, revolving loans and credit card loans was unchanged from August at 2.37%. The interest rate on overdrafts rose to 2.61%.

Interest rates of commercial banks on CZK loans provided to Czech residents - new business

Interest rates on outstanding amounts

The average interest rates on outstanding amounts of deposits of non-financial corporations remained unchanged in October and changed only marginally in the case of households.

The average changes in interest rates on outstanding amounts of loans to households were moderate in October. Interest rates on outstanding amounts of loans to non-financial corporations recorded only marginal changes.

The overall interest rate on loans to households edged down to 3.46 %. The interest rate on loans for house purchase was unchanged from September at 2.51% (with the rate on outstanding amounts of mortgage loans remaining at 2.35%), the rate on consumer credit fell marginally to 8.82% and the rate on other loans fell to 3.41%.

The average interest rate on loans to non-financial corporations dropped marginally to 2.54%. The rate on loans with maturity of up to one year grew to 2.39%. The rate on loans with maturity of over one year and up to five years declined to 2.79%. The rate on loans with maturity of over five years fell to 2.51%.

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