Deposit interest rates for residents in Lithuania are higher than in the euro area

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:

• In December 2024, the interest offered to households (residents) on all deposits with agreed maturity was higher in Lithuania than the euro area average;
• a comparison of data for December and September 2024 shows that all interest rates under review in Lithuania decreased, with the exception of interest rates on new business of loans granted to households for other purposes;
• interest rates on household deposits with agreed maturity with credit institutions operating in Lithuania and their euro area average declined by 0.28 percentage points and 0.53 percentage points respectively in three months, to 2.7% and 2.45% respectively. Lithuania moved from the tenth to the sixth position (see Chart 1);

Chart 1. Interest rates on and volumes of new business of household deposits with agreed maturity

• interest rates on non-financial corporation deposits with agreed maturity with credit institutions operating in Lithuania and their euro area average declined by 0.36 percentage points and 0.48 percentage points respectively in three months, to 2.63% and 2.80% respectively. Lithuania fell to the fourteenth position in terms of interest rates, remaining below the euro area average (see Chart 2);

Chart 2. Interest rates on and volumes of new business of non-financial corporation deposits with agreed maturity

• both the interest rates on housing loans granted by credit institutions operating in Lithuania to households and their euro area average declined by 0.66 percentage points and 0.24 percentage points respectively in three months, to 4.36% and 3.35% respectively. Lithuania remained in the third position (see Chart 3);

Chart 3. 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 0.12 percentage points and 0.39 percentage points respectively in three months, to 9.25% and 7.36% respectively. Lithuania fell from the fourth to the fifth position (see Chart 4);

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

• in the past three months, interest rates on loans to households for other purposes granted by credit institutions operating in Lithuania increased by 0.15 percentage points to 8.48%, while the average interest rates of euro area countries fell by 0.52 percentage point to 4.35%. Lithuania moved up to the second position among euro area countries in terms of interest rates (see Chart 5);

Chart 5. Interest rates on and volumes of new business of household loans for other purposes

• 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 in the euro area decreased by 0.58 percentage points and 0.44 percentage points respectively, to 5.27% and 4.24% respectively. In Lithuania, however, these rates were among the highest in euro area countries, i.e. 103 basis points above the euro area average (see Chart 6).

Chart 6. Interest rates on and volumes of new business of loans to non-financial corporations

 

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¹ Weighted interest rates on new business during the reporting month, in percentages per annum.

² New business covers financial contracts that specify for the first time the interest rate on a loan or the deposit rate, and contracts for existing loans or deposits, which were renegotiated. New business does not cover revolving loans and overdrafts, as well as credit card debt. New business deposits do not cover automatic renegotiations of existing deposit contracts.

³ Comparison of data of September and December 2024.

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Statistics, Monetary and financial statistics