Effective interest rates - March 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 01 May 2018
  • Effective rates on new time deposits by individuals have increased by 14bps from 0.97% to 1.11% (Table A).
  • Effective rates on new PNFC loans have decreased by 14bps from 2.79% to 2.65% (Table B).

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 Dec 0.46 0.89 7.07 2.55 1.01 7.96 2.01
2018 Jan 0.45 0.90 7.10 2.53 1.02 7.60 1.96
Feb 0.46 0.90 7.00 2.51 0.97 7.37 2.02
Mar 0.46 0.90 6.98 2.51 1.11 7.37 2.04

 

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 Dec 0.26 0.50 2.96 0.48 2.61
2018 Jan 0.29 0.57 3.05 0.46 2.67
Feb 0.28 0.56 3.06 0.46 2.79
Mar 0.26 0.58 3.09 0.50 2.65

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