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