Italy's households and SMEs face high loan rates while deposits earn near‑zero

An analysis by the Unimpresa research centre shows that in the first months of 2026 Italian consumers paid an average consumer‑credit TAEG of 10.34 %, while small‑and‑medium enterprise loans averaged 4.18 %. By contrast, large firms borrowing over €1 million faced rates of about 2.99 %. Deposit returns remained very low, with current‑account earnings at 0.29 % and overall deposit yields at 0.65 %.

The European Central Bank’s recent rate hike to 2.25 % has not translated into lower borrowing costs for households and SMEs; the transmission to loan pricing has been limited. The CNA’s own study confirms a similar disparity for small‑value loans: financing up to €50 000 carries a national average TAEG of around 6 %‑8 %, while loans above €1 million are priced near 3.5 %‑4 %. The gap is even wider in southern regions and islands. CNA officials warn that these higher costs hinder investment, digitalisation and hiring by Italy’s many micro‑ and small enterprises.

Both reports underline a persistent spread of more than ten percentage points between the cost of borrowing for households and the return on their deposits, highlighting structural imbalances in Italy’s credit market.