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Interest rates
14.03.2022
The variable[1] interest rate on mortgage loans granted to households has decreased by 4 basis points on a monthly basis to reach 1.3% in January 2022 and the volume of these newly granted loans has decreased by 70 million euros to reach 224 million euros. On a yearly basis, the interest rate has decreased by 5 basis points whereas the volume of newly granted loans has increased by 15 million euros.
The fixed[2] interest rate on mortgage loans granted to households increased by 5 basis points on a monthly basis to reach 1.42% in January 2022 while the volume of these newly granted loans has decreased by 163 million euros to reach 404 million euros. On a yearly basis, this interest rate increased by 18 basis points whereas the volume of newly granted loans has decreased by 47 million euros.
The interest rate on consumer loans that have an initial fixation period above 1 year and below or equal to 5 years has decreased by 92 basis points on a monthly basis to reach 1.75% in January 2022 whereas the volume of newly granted loans has increased by 24 million euros to reach 39 million euros. On a yearly basis, the interest rate has increased by 8 basis points whereas the volume of new lending has increased by 3 million euros.
The interest rate on households’ fixed-term deposits that have an initial maturity below or equal to 1 year has reached -16 basis points in January 2022 from 10 basis points during the previous reference period. On a yearly basis, this rate has decreased by 24 basis points.
Representative interest rates on new contracts1 – loans and deposits – concluded with NFCs
The variable2 interest rate on loans below or equal to 1 million euros granted to NFCs increased by 7 basis points to reach 1.37% for January 2022 and the volume of newly granted loans has decreased by 130 million euros to reach 756 million euros. On a yearly basis, this interest rate has decreased by 12 basis points and the volume of newly granted loans has increased by 64 million euros.
The variable2 interest rate on loans above 1 million euros granted to NFCs has decreased by 13 basis points on a monthly basis to reach 1.02% during the last reference period. The volume of newly granted loans has decreased by 3 155 million euros to reach 3 002 million euros. On a yearly basis, this interest rate has increased by 4 basis points and the volume of newly granted loans has decreased by 721 million euros.
The interest rate on fixed-term deposits of NFCs with an initial maturity below or equal to 1 year has increased by 2 basis points on a monthly basis to reach -0.38% in January 2022. On a yearly basis, this interest rate has decreased by 26 basis points.
The tables pertaining to interest rates applied to credit institutions can be consulted and/or downloaded on the BCL’s website on the following pages:
http://www.bcl.lu/en/statistics/series_statistiques_luxembourg/03_Capital_markets/index.html
Weighting method
The interest rates applied to new contracts are weighted within the categories of instruments concerned by the amounts of individual contracts. This results from the compilation of national aggregates carried out by reporting credit institutions and by the BCL.
[1] Variable interest rate or rate with an initial fixation period inferior or equal to 1 year.
[2] Fixed interest rate weighted by the amounts of contracts for all mortgage loans granted, whatever the initial rate fixation period (above 1 year). This series has been published by the BCL since February 2009 only for methodological reasons linked to the identification of reporting agents.
