Downturn in lending rates to households
The average interest rate on new loan agreements of households was 4.14 percent in September, a downturn against 4.26 in August. This is the second month in a row that the average rate showed a downturn. Both short and long term rates went down. The floating interest rates that had earlier shown an upward trend since April 2010 decreased somewhat in September, from 4.43 percent in August to 4.39 percent in September. The downturn can stem from the banks while the housing credit institutions still show weakly rising floating rates. The long term rates also showed downturns. The largest downturn was seen for rates with a fixed period over 1 year up to 5 years; these rates decreased 0.20 percentage points and amounted to 3.86 percent.
In September the average interest rate on households' new deposits for all types of bank accounts was 1.37 percent, an increase from 1.35 percent in August. Interest rates on accounts with fixed periods or a limited number of free withdrawals rose from 2.19 percent in August (revised figure) to 2.21 percent in September. However, interest on accounts with a fixed period of over two years decreased from 4.01 percent in August to 3.26 percent in September.
MFIs' lending rates for new loan agreements to non-financial corporations rose slightly in September. The average interest rate was 3.65 percent in August and rose to 3.66 percent in September. In September 2010 the interest rate was 2.37 percent.