Central Bank of Cyprus releases interest rate data for March 2026

The Central Bank of Cyprus (CBC) released interest rate statistics for March 2026, revealing discrepancies between local rates and eurozone averages. Household interest rates on new mortgage loans reached a weighted average of 3.09%, which is lower than the 3.40% eurozone average. Conversely, interest rates for business borrowing in Cyprus remained above the eurozone average. Regarding household time deposits with a duration of up to one year, the weighted average rate in Cyprus was 1.18%, compared to 1.82% in the eurozone. Individual banks reported varying rates, with the National Bank of Greece (Cyprus) offering 1.57% and the Bank of Cyprus offering 0.87%. For non-financial corporate deposits, the Cypriot average was 1.39% against 1.94% in the eurozone. Sources provided conflicting reports on whether mortgage rates increased or decreased compared to the previous month, as one report cited a decline while another indicated a slight rise to 3.09% from 3.04%.