Effective interest rates - September 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 October 2019

Key points

  • Effective rates on new secured loans to individuals has decreased 4bps to 2.00%.
  • Effective rates on new other unsecured loans to individuals has decreased by 33bps to 6.78%.
  • Effective rates on new PNFC loans has increased 49bps to 3.05%.

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 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
  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

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 Jun 0.41 0.83 3.31 0.72 2.47
  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

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: 29 November 2019

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