Effective interest rates - October 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 29 November 2019

Key points

  • Effective rates on new secured loans to individuals decreased 4bps to 1.96%.
  • Effective rates on new time deposits to individuals increased 6bps to 1.14%.

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  Jul 0.49 1.00 6.90 2.41   1.15 7.11 2.03
  Aug 0.48 0.98 6.85 2.42   1.11 7.11 2.04
  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  7.01   1.96

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 Secured loans Time deposits  Loans
    HSCT HSCU HSDC BJ72 BJ82
2019  Jul 0.40 0.84 3.30 0.73 2.56
  Aug 0.41 0.86 3.27 0.71 2.56
  Sep 0.43 0.84 3.27 0.70 3.05
  Oct  0.43  0.86 3.26 0.70  2.63 

Chart 1: Effective interest rates on individuals deposits

Per cent
Not seasonally adjusted

Chart 2: Effective interest rates on individuals loans

Not seasonally adjusted

ExcelData tables

Next release date: 3 January 2020

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