Effective interest rates - July 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 30 August 2019

Key points

  • Effective rates on outstanding other loans to individuals increased 6bps to 6.90% the highest since May 2018.
  • Effective rates on new loans to PNFCs increased 9bps to 2.56%.
  • Effective rates on new individuals' time deposits were broadly flat in July, however within this rates on time deposits fixed for 1-2 years decreased 15bps to 1.18%.

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   Apr 0.51 0.99 6.67 2.45   1.42 6.83 2.08
   May 0.50 0.99 6.62 2.42   1.23 6.87  2.08 
  Jun   0.50 0.99 6.84 2.42   1.17 7.12 2.02
  Jul   0.49 1.00 6.90 2.41   1.15 7.11 2.03

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   Apr 0.42 0.84 3.34 0.79 2.68
   May 0.41 0.85 3.32 0.74  2.86 
  Jun 0.41 0.83 3.31 0.72 2.47
  Jul   0.40 0.84 3.30 0.73 2.56

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: 30 September 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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