The Bank of Portugal released updated May 2025 statistics on interest rates and volumes for new bank loans and deposits, covering transactions between banks resident in Portugal and households and non-financial corporates resident in the euro area. The average rate on new household term deposits fell for the 17th consecutive month to 1.49%, while the average rate on new housing credit recorded its largest decline in nine months, reaching 2.96%. New household term deposits rose by EUR 123 million to EUR 13,093 million, with maturities up to one year accounting for 95% of flows and averaging 1.50%. Portugal’s household deposit rate was the fourth lowest in the euro area, versus a euro area average of 1.87%. For corporates, the average rate on new term deposits decreased to 1.84% and volumes fell to EUR 9,101 million (99.5% with maturities up to one year). New household borrowing totalled EUR 3,289 million, including EUR 2,045 million in new housing loan contracts; borrowers aged 35 or under represented 58% of new own-home-permanent-residence lending (excluding credit consolidation and transfers). Consumer credit new contracts reached EUR 628 million, the highest in the series (since 2014), while the average consumer loan rate declined to 8.85%. New corporate lending rose to EUR 2,717 million and the average rate fell to 3.77%, with declines for both loans up to EUR 1 million (3.87%) and above EUR 1 million (3.60%). The next update is scheduled for 31 July 2025.

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