Average interest rates on new household deposits decline while housing loan rates rise in Cyprus July 2026
In July 2026, the average interest rate on new household deposits in Cyprus fell to 1.27%, whereas the average rate on new housing loans increased to 3.24%, according to the Central Bank of Cyprus (CBC). Both rates remain below the euro area averages, which stand at 2.10% for deposits and 3.54% for housing loans.
Among deposit providers, the National Bank of Greece offered the highest rate to households at 1.62%. For housing loans, Societe Generale recorded the highest household rate at 3.55%, followed by Bank of Cyprus at 3.37%. The average interest rate on new corporate loans up to €1 million also rose to 4.51% in July.
The CBC noted that Cyprus has significantly reduced its non-performing loans, improving banks’ asset quality to EU average levels. However, outstanding household and business debts remain a concern. Cypriot MEP Michalis Hadjipantela has urged banks and authorities to strengthen protections for vulnerable borrowers, especially those who have repaid a substantial portion of their mortgages, aligning with European Parliament provisions on primary residence protection.
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