Comparison of interest rates on loans and deposits in Lithuania and the euro area in December 2023: loans became cheaper in Lithuania

Interest rates¹ on loans and new business² of deposits with agreed maturity of euro area credit institutions to euro area residents published by the ECB show that:

• interest rates on loans and deposits with agreed maturity to non-financial corporations (companies) and households varied from September to December 2023;
• at the end of the year, loan interest rates in Lithuania remained among the highest, but the situation was better than in September 2023 compared to other euro area countries;
• interest rates on household deposits with agreed maturity increased between September and December 2023 in Lithuania, but those to non-financial corporations fell, remaining below the euro area average;
• interest rates on loans granted by credit institutions operating in Lithuania to non-financial corporations narrowed by 0.08 percentage points in three months³ to 6.35%, their euro area average went up by 0.1 percentage points to 5.15%. Lithuania moved to the second position, preceded by Estonia (see Chart 1);

Chart 1. Interest rates on and volumes of new business of loans to non-financial corporations

• interest rates on loans for house purchase granted by credit institutions operating in Lithuania to households decreased by 0.18 percentage points in three months to 5.62%, and their euro area average went up by 0.7 percentage points, amounting to 4.00%. Lithuania moved one position down, from the second to the third (see Chart 2);

Chart 2. Interest rates on and volumes of new business of household loans for house purchase

• interest rates on loans for consumption granted by credit institutions operating in Lithuania to households increased by 0.04 percentage points in three months to 9.68%, their euro area average went down by 0.18 percentage points to 7.70%. Lithuania moved from the fourth to the fifth position (see Chart 3);

Chart 3. Interest rates on and volumes of new business of household loans for consumption

• interest rates on loans for other purposes granted by credit institutions operating in Lithuania to households rose by 0.44 percentage points in three months to 7.98%, their euro area average went down by 0.11 percentage points to 5.28%. Lithuania retained the second position among euro area countries in terms of interest rates (see Chart 4);

Chart 4. Interest rates on and volumes of new business of household loans for other purposes

• interest rates on deposits with agreed maturity of non-financial corporations held with credit institutions operating in Lithuania decreased by 0.07 percentage points in three months to 3.41%, and their euro area average went up by 0.13 percentage points to 3.72%. Lithuania moved down from the tenth to the fourteenth position in terms of interest rates (see Chart 5);

Chart 5. Interest rates on and volumes of new business of non-financial corporation deposits with agreed maturity

• interest rates on household deposits with agreed maturity held with credit institutions operating in Lithuania rose by 0.08 percentage points in three months to 3.53%, and their euro area average went up by 0.21 percentage points to 3.29%. Lithuania moved up two positions to the fourth position among euro area countries (see Chart 6).

Chart 6. Interest rates on and volumes of new business of household deposits with agreed maturity

Statistics, Monetary and financial statistics