Money and Credit, Effective interest rates ,Banking - Monetary & Financial Stability Report & Statistics
Effective interest rates: October 2015 The effective rate paid on households’ outstanding time deposits decreased by 7bps to 1.52% in October and the rate for households’ new time deposits increased by 4bps to 1.55%. The effective rate on the stock of outstanding secured loans (mortgages) decreased by 1bp to 3.03% in October and the new secured loan rate fell to 2.52%, a decrease of 5bps on the month. BoE Financial Stability Report, December 2015 The rate on outstanding unsecured personal loans decreased by 3bps to 6.81% in October and the new unsecured personal loan rate decreased by 2bps to 6.95%. The credit card rate (all balances) fell to 10.38%, a 15bps decrease on the month (see Table A for households’ effective rates). The effective rate paid on private non-financial corporations’ (PNFCs) outstanding time deposits increased by 1bp to 0.68% in October, and the rate on PNFCs’ new time deposits was unchanged at 0.42%. The rate on PNFCs’ outst...