Cyprus interest rates: Deposit rates fall as mortgage costs rise

Data from the Central Bank of Cyprus shows that the average deposit rate for households fell to 1.27% in July, down from 1.42% in June. This rate remains lower than the Eurozone average of 2.10%.

Conversely, the average interest rate for new mortgage loans increased to 3.24%, up from 3.18%. Despite this rise, Cypriot mortgage rates remain below the Eurozone average of 3.54%. Among specific institutions, Societe Generale reported the highest mortgage lending rate at 3.55%, followed by Bank of Cyprus at 3.37%.