Effective interest rates - December 2017

This statistical release contains average interest rates across deposit or loan accounts with UK banks and building societies, calculated using data on rates and balances.

Published on 30 January 2018

Effective rates on new and stock individual floating-rate mortgages have increased by 24bps from 1.75% to 1.99% and 19bps from 2.60% to 2.79% respectively, showing pass through of the Bank Rate rise in November.
Effective rates on new fixed-rate other loans to individuals have all increased in December, the fixed-rate 1 – 5 years rate increased by 20bps from 7.94% to 8.14%.
Effective rates on individual stock deposits have increased; sight deposits increased by 9bps from 0.37% to 0.46% and time deposits increased by 7bps from 0.82% to 0.89%.

Table A: Effective interest rates paid/received on individual's balances by UK MFIs (excluding central bank)

Per cent
Not seasonally adjusted

	Outstanding					New business
		Sight deposits	Time deposits	Other loans	Secured loans	Time deposits	Other loans	Secure loans
		Z6IQ	Z6IW	Z6KO	Z6K6	Z6IH	Z6K5	Z6JM
2017	Sep	0.36	0.85	7.15	2.52	1.11	7.18	1.97
	Oct	0.36	0.84	7.11	2.50	1.15	7.03	1.92
	Nov	0.37	0.82	7.10	2.50	1.15	7.83	1.99
	Dec	0.46	0.89	7.07	2.55	1.01	7.96	2.02

Table B: Effective interest rates paid/received on PNFC balances by UK MFIs (excluding central bank)

Per cent
Not seasonally adjusted

	Outstanding				New business
		Sight deposits	Time deposits	Loans	Time deposits	Loans
		HSCT	HSCU	HSDC	BJ72	BJ82
2017	Sep	0.14	0.42	2.81	0.29	2.41
	Oct	0.14	0.43	2.82	0.31	2.39
	Nov	0.23	0.49	2.91	0.53	2.57
	Dec	0.26	0.50	2.95	0.48	2.61