Interest rates on loans and new business of deposits with agreed maturity of euro area credit institutions to euro area residents published by the ECB show that from December 2023 to March 2024, of all euro area average interest rates, the average interest rate on loans for consumption was the only one to increase.
Interest rates on loans for house purchase and loans for non-financial corporations changed marginally, while the highest interest rates on loans for consumption and other purposes granted to households declined by more than 2 percentage points in the euro area.
In March 2024, Lithuanian households were offered the highest interest rates on deposits of over 2 years.
In three months, both the interest rates on loans granted by credit institutions operating in Lithuania to non-financial corporations and the average interest rates on these loans decreased by 0.01 percentage points and 0.05 percentage points respectively, to 6.40% and 5.1% respectively. Lithuania moved from the second to the third position as a result of a drop in interest rates.
Interest rates on loans for house purchase granted by credit institutions operating in Lithuania to households increased by 0.05 percentage points in three months to 5.67%, but their euro area average went down by 0.24 percentage points, amounting to 3.77%. Lithuania remained in the third position.
Interest rates on loans for consumption granted by credit institutions operating in Lithuania to households fell by 0.02 percentage points in three months to 9.66%, their euro area average went up by 0.12 percentage points to 7.82%. Lithuania moved from the fifth to the fourth position.
Both the interest rates on loans for other purposes granted by credit institutions operating in Lithuania to households and their euro area average decreased by 0.39 percentage points and 0.03 percentage points respectively in three months, to 7.61% and 5.25% respectively. Lithuania retained the second position among euro area countries in terms of interest rates.
Interest rates on deposits with agreed maturity of non-financial corporations held with credit institutions operating in Lithuania rose by 0.04 percentage points in three months to 3.45%, and their euro area average fell by 0.04 percentage points to 3.68%. Lithuania moved from the fourteenth to the twelfth position in terms of interest rates.
Interest rates on household deposits with agreed maturity with credit institutions operating in Lithuania and their euro area average declined by 0.07 percentage points and 0.13 percentage points respectively in three months, to 3.46% and 3.16% respectively. Lithuania moved down two positions to the sixth position among euro area countries.