Effective interest rates - November 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 04 January 2018
  • Multiple series have increased this month due to the Bank rate rise at the beginning of November;
  • Effective rates on new individual other loans have all increased, the fixed 1-5 years rate increased by 64bps from 7.30% to 7.94%.

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
Secured
loans
Z6IQ Z6IW Z6KO Z6K6 Z6IH Z6K5 Z6JM
2017 Aug 0.35 0.86 7.12 2.53 1.04 7.05 2.00
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

 

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 Aug 0.15 0.44 2.79 0.24 2.39
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

Effective interest rates - Chart 1 - Nov 2017
Effective interest rates - Chart 2 - Nov 2017
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