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Central Bank of Cyprus: lower rates on mortgages and consumer loans

Central Bank of Cyprus: lower rates on mortgages and consumer loans

02.09.2015
Tags: Economy, Central Bank, Credit Company, Banks

Earlier this week, the Central Bank of Cyprus has published data showing that the interest rates on mortgage loans continued to decline in December, together with the rates on consumer loans.

However, interest rates on business loans rose to a million euros at the end of last year after falling in August last year.

Interest rates on mortgages fell to 4,67% in December from 4,71% in the previous month.

Adding other bank charges raises to 4,93% unlike 4,99% in November.

Rates on consumer loans also declined to 6,0% with 6,57% in noyabre.S the other hand, the interest rate on business loans up to a million euros in December rose to 6,0% with 5,62% in the previous month.

The interest rate on business loans reached more than one million 5,23% compared with 4,26% in November.

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