Deposit rates falling in Cyprus while mortgage loans become more expensive

The Central Bank of Cyprus has published new data on bank interest rates for March 2026. According to the report, deposit yields continue to gradually decrease, while rates on housing loans are showing growth.

The highest interest rate on deposits among banks is offered by National Bank of Greece — 1.57% per annum. However, this is lower than last year's level of 1.61%. In second place is Ancoria Bank with 1.40% compared to 1.45% previously, and the third position is occupied by Alpha Bank with a rate of 1.39%.

There is also an increase in deposit yields at cdbbank, where the rate rose to 1.30%, and at Societe Generale Bank Cyprus Ltd — up to 1.13%.

The average interest rate on deposits for eurozone households in Cyprus in March was 1.18%, slightly lower than February's figure of 1.19%.

At the same time, mortgage loans have become more expensive. The average rate on new euro-denominated housing loans rose to 3.09% compared to 3.04% a month earlier.

The highest mortgage rate is offered by HFC (OXS) — 3.37%, despite a small decrease compared to February. This is followed by Bank of Cyprus with 3.20% and Eurobank with 3.06%.

Experts attribute the decline in deposit yields to the general trend of easing monetary policy in the eurozone, while the rise in loan rates reflects bank caution amid ongoing economic uncertainty and high financing costs.