Effective interest rates - December 2019

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 31 January 2020

Key points

  • Effective rates on new loans to PNFC decreased 6bps to 2.54%.
  • Effective rates on new unsecured other loans to individuals increased 20bps to 7.14% the highest since December 2018.
  • Effective rates on new time deposits for individuals decreased 15bps to 0.97%.

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

2019

Sep

0.48

0.98

6.88

2.39

1.08

6.78

2.00

 

Oct

0.48

0.97

6.92

2.39

1.14

6.76

1.96

 

Nov

0.47

0.96

6.88

2.39

1.12

6.94

1.87

 

Dec

0.48

0.95

6.85

2.36

0.97

7.14

1.88

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

2019

Sep

0.43

0.84

3.27

0.70

3.05

 

Oct

0.43

0.86

3.26

0.70

2.65

 

Nov

0.42

0.85

3.24

0.70

2.60

Dec

0.43

0.85

3.28

0.68

2.54

Chart 1: Effective interest rates on individuals deposits

Per cent
Not seasonally adjusted

Chart 2: Effective interest rates on individuals loans

Not seasonally adjusted

Queries

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

Next release date: 2 March 2020

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