Comparison of interest rates on loans and deposits in Lithuania and the euro area in June 2024: drop in interest rates

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:

• a comparison of data of June and March 2024 show a drop in all relevant interest rates;
• in June 2024, interest rates offered to households (residents) on all deposits with agreed maturity was above the euro area average and interest rates on deposits with a maturity of over two years were the highest in the euro area;
• in three months,³ both the interest rates on loans granted by credit institutions operating in Lithuania to non-financial corporations (companies) and the average interest rates on these loans decreased by 0.03 percentage points and 0.14 percentage points respectively, to 6.37% and 4.97% respectively. In Lithuania, however, these rates were the highest among euro area countries, i.e. 140 basis points above the euro area average (see Chart 1);

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

• both the interest rates on housing loans granted by credit institutions operating in Lithuania to households and their euro area average declined by 0.23 percentage points and 0.04 percentage points respectively in three months, to 5.44% and 3.73% respectively. Lithuania remained in the third position (see Chart 2);

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

• both the interest rates on loans for consumption granted by credit institutions operating in Lithuania to households and their euro area average dropped by 0.07 percentage points and 0.11 percentage points respectively in three months, to 9.59% and 7.71% respectively. Lithuania remained in the fourth position (see Chart 3);

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

• 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 0.17 percentage points and 0.10 percentage points respectively in three months, to 7.44% and 5.15% respectively. 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 non-financial corporation deposits with agreed maturity with credit institutions operating in Lithuania and their euro area average declined by 0.05 percentage points and 0.14 percentage points respectively in three months, to 3.40% and 3.54% respectively. Lithuania moved from the twelfth to the tenth position in terms of interest rates yet remained below the euro area average (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 with credit institutions operating in Lithuania and their euro area average declined by 0.11 percentage points and 0.13 percentage points respectively in three months, to 3.35% and 3.03% respectively. Lithuania remained in the sixth 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