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 

Chart 1: Effective interest rates on individuals deposits

Not seasonally adjusted

Chart 2: Effective interest rates on individuals loans

Not seasonally adjusted

ExcelData tables

Next release date: 1 March 2019

More information

Queries

If you have any comments or queries about this release please email dsd_ir@bankofengland.co.uk.

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