Bank of England Effective Rates June 2014

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Published on 29 July 2014 at 09.30am
Effective interest rates: June 2014
The effective rate paid on households’ outstanding time deposits decreased by 13bps to 1.95% in June and
the rate for households’ new time deposits decreased by 22bps to 1.57%.
The effective rate on the stock of outstanding secured loans (mortgages) increased by 1bp to 3.23% in June
and the new secured loan rate rose to 3.15%, an increase of 2bps on the month. The rate on outstanding
unsecured personal loans decreased by 1bp to 7.38% in June and the new unsecured personal loan rate
decreased by 21bps to 7.53%. The credit card rate (all balances) increased to 10.87%, a 4bps increase on the
month. (See Table A for households’ effective rates).
The effective rate paid on private non-financial corporations’ (PNFCs) outstanding time deposits decreased
by 7bps to 0.80% in June, and the rate on PNFCs’ new time deposits increased by 10bps to 0.50%. The rate on
PNFCs’ outstanding loans decreased by 1bp to 3.13% in June and the rate on new lending increased by 10bps
to 2.73%. (See Table B for PNFCs’ effective rates).
Table A: Effective interest rates paid/received on household balances by UK MFIs (excluding central bank)
Per cent
Not seasonally adjusted
Outstanding
Sight
Time
deposits deposits
2014 Mar
Apr
May
Jun
HSCV
0.75
0.76
0.73
0.80
New business
Credit card Unsecured Secured
(all bals)
loans
loans
HSCW
2.21
2.09
2.08
1.95
HSDP
11.03
10.88
10.83
10.87
HSDI
7.49
7.45
7.39
7.38
Per cent
4
Chart 1: Effective interest rates on
household deposits
Not seasonally adjusted
HSDE
3.24
3.23
3.22
3.23
Time Unsecured
deposits
loans
BJ74
1.56
1.68
1.79
1.57
Secured
loans
BJ93
7.49
7.37
7.74
7.53
BJ95
3.07
3.07
3.13
3.15
Per cent
16
Chart 2: Effective interest rates on
household loans
Not seasonally adjusted
14
3
12
10
8
2
6
4
1
2
0
0
Jun Sep
2012
Dec
Mar
2013
Outstanding sight
Jun
Sep
Dec
Outstanding time
Mar
2014
Jun
New time
Jun
2012
Sep
Dec
Mar
2013
Outstanding secured
New unsecured
Credit cards (all balances)
Jun
Sep
Dec
Mar
2014
Jun
New secured
Outstanding unsecured
Next release - 1 September 2014. Release available online at www.bankofengland.co.uk/statistics/pages/calendar/default.aspx.
Copyright guidance and the related UK Open Government Licence can be viewed here: www.bankofengland.co.uk/Pages/disclaimer.aspx.
Table B: Effective interest rates paid/received on PNFC balances by UK MFIs (excluding central bank)
Per cent
Not seasonally adjusted
Outstanding
2014 Mar
Apr
May
Jun
Sight
Time
deposits deposits
HSCT HSCU
0.49
0.89
0.49
0.87
0.47
0.87
0.42
0.80
New business
Loans
HSDC
3.10
3.13
3.14
3.13
Time
deposits Loans
BJ72
BJ82
0.43
2.51
0.56
2.80
0.40
2.63
0.50
2.73
Chart 3: Effective interest rates on
PNFC deposits
Not seasonally adjusted
Per cent
2
Chart 4: Effective interest rates on PNFC loans
Not seasonally adjusted
Per cent
4
3
1
2
1
0
Jun
Sep
2012
Dec
Mar
2013
Outstanding sight
Jun
Sep
Dec
Outstanding time
Mar
2014
Jun
New time
0
Jun
Sep
2012
Dec
Mar
2013
Jun
Outstanding loans
Sep
Dec
Mar
2014
Jun
New loans
Technical notes
1
Full data on effective rates are available in Table G1.4 of Bank of England Monetary and Financial Statistics
(http://www.bankofengland.co.uk/statistics/bankstats/current/index.htm#1); these data are sourced from the Bank’s
Effective Interest Rates Return, currently completed by 23 MFIs.
2
The Statistical Interactive Database (http://www.bankofengland.co.uk/mfsd/iadb/NewInterMed.asp) provides long runs of
statistical data with comprehensive search options and the ability to download in a variety of formats. The series codes are
listed in the tables in this release.
3
For further information on the compilation of the Bank’s effective interest rates series please refer to the explanatory notes
(http://www.bankofengland.co.uk/mfsd/iadb/notesIADB/effective_int.htm)
Next release - 1 September 2014. Release available online at www.bankofengland.co.uk/statistics/pages/calendar/default.aspx.
Copyright guidance and the related UK Open Government Licence can be viewed here: www.bankofengland.co.uk/Pages/disclaimer.aspx.

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