Housing Loans Totalled €1.22 Billion in April

The Bank of Portugal has published statistics on interest rates on new loans and deposits for April 2021.

According to the data, the average interest rate in April decreased two basis points to 0.82% for new mortgages to individuals, resuming the downward trend of recent months.

In the month, the volume of new loans for housing, consumer and other purposes totalled €1.22 billion, €387 million and €174 million, respectively.

The average interest rate on loans for consumption and other purposes rose to 6.51% (6.45% in March) and 3.94% (2.99% in March), respectively.

Interest rates on new loans to non-financial companies rose by three basis points to 1.99%.

By segment, the interest rate on operations below 1 million euros increased five basis points to 2.30%, and the rate on operations above 1 million euros decreased by five b.p. to 1.55%.

The average interest rate on new deposits from non-financial companies, up to one year, was 0.04%, down two b.p. from March.

The report also reveals that the average interest rate remained at 0.05% for new deposits of up to one year from individuals.