# Spanish consumer credit trends and costs

> Live situation record from CLSTR: https://clstr.news/situations/spanish-consumer-credit-trends-and-costs
> Updated: 2026-09-05T13:05:23.000Z. Sources: 2. Developments: 2.

Consumer credit trends show high costs alongside persistent growth. As of March 2026, the effective annual global rate (TAEG) for consumer credit reached 10.34%, remaining high despite easing policies from the European Central Bank. During this period, small and medium-sized enterprises faced average loan rates of 4.18%, while mortgage rates for home purchases stood at 3.81%.

By July 2026, data from the Bank of Spain indicated that consumer credit in Spain grew by 12.6% year-on-year, outpacing general household credit growth of 5.2%. This double-digit growth trend had persisted for nine consecutive months. Despite rising interest rates, the total balance of consumer loans to households has remained above 100,000 million euros since April 2024, and consumer intention to utilize credit continues to rise.

## Timeline

### 2026-09-05: Spain consumer credit grows 12.6% despite rising interest rates

Spanish consumer credit grew by 12.6% year-on-year in July, maintaining a nine-month trend of double-digit growth despite higher interest rates and geopolitical uncertainty.

2 sources. https://clstr.news/cluster/spain-consumer-credit-grows-126-despite-rising-interest-rates

### 2026-08-09: Consumer credit costs reach 10.34% amid high interest rates

Consumer credit costs reached 10.34% in March 2026, while SMEs faced average loan rates of 4.18%, according to Unimpresa data.

2 sources. https://clstr.news/cluster/consumer-credit-costs-reach-1034-amid-high-interest-rates

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Cite as: Spanish consumer credit trends and costs. CLSTR, https://clstr.news/situations/spanish-consumer-credit-trends-and-costs