Effective interest rates - December 2018

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 2019

Key points

Effective rates on new other loans, fixed 1 to 5 years, to individuals increased 30bps to 7.35%.
Effective rates on stock PNFC loans increased 4bps to 3.31%.
Effective rates on the flow and stock of mortgages to individuals remained broadly unchanged in December.
The share of 1 year fixed-rate bonds within total new fixed-rate bonds increased 4pp to 65.50% in Q4 2018.

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
2018	Sep	0.50	0.92	6.77	2.53	1.19	6.36	2.10
	Oct	0.49	0.93	6.76	2.50	1.28	6.72	2.08
	Nov	0.49	0.93	6.81	2.50	1.23	7.08	2.13
	Dec	0.52	0.93	6.75	2.48	1.18	7.45	2.14

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
2018	Sep	0.35	0.72	3.30	0.66	2.59
	Oct	0.39	0.75	3.30	0.71	2.77
	Nov	0.40	0.76	3.27	0.67	2.72
	Dec	0.41	0.78	3.31	0.74	2.65