Cyprus Bank Deposit Rates Below Eurozone Average with Wide Lending Rate Variations in June 2026
In June 2026, Cyprus banks continued to offer deposit interest rates significantly below the eurozone average, according to a Central Bank of Cyprus report. Household fixed-term deposits up to one year averaged 1.42%, compared to 2.03% across the eurozone. Ancoria Bank and National Bank of Greece (Cyprus) led with rates of 1.66% and 1.64%, respectively, while Bank of Cyprus and Housing Finance Corporation offered some of the lowest returns.
The report also highlighted significant disparities in lending rates among lenders. For new mortgage loans, Cyprus’ average borrowing cost was 3.28%, slightly below the eurozone average of 3.51%. However, rates varied from Alpha Bank Cyprus at 2.71% to Cyprus Development Bank at 4.15%. Business loans up to €1 million showed the greatest variation, with rates ranging from 3.57% at Alpha Bank Cyprus to 7.17% at Banque SBA.
For larger business loans above €1 million, average rates stood at 3.97%, with Ancoria Bank charging the highest at 4.69%, and Cyprus Development Bank offering the lowest at 3.53%. These findings reflect diverse pricing strategies among Cypriot banks amid a landscape of lower deposit returns compared to the eurozone average.
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