Commentary on MFI interest rates

January 2026

Interest rates on new business

Interest rates on new deposits of households recorded the largest change for deposits with agreed maturity in January. As regards non-financial corporations, interest rates on overnight deposits saw the largest change.

The interest rate on household deposits with agreed maturity increased by 0.04 percentage point to 2.93%. The interest rate on overnight deposits edged down to 1.43%. The interest rate on current account deposits declined to 0.13%. The interest rate on deposits redeemable at notice was flat at 1.66% (this rate is the only one to include, in addition to the household sector, also similar deposits of non-financial corporations, whose volumes are negligible in this category).

The rate on deposits of non-financial corporations with agreed maturity rose to 2.91%. The interest rate on overnight deposits increased by 0.11 percentage point to 1.09%. The interest rate on current account deposits rose to 0.62%. Deposits with agreed maturity of up to one year (which as a rule account for 100% of all deposits with agreed maturity in the case of this sector) were also remunerated at a higher rate (2.91%).

Chart 1 – Interest rates of commercial banks on CZK deposits held by Czech residents – new business
Interest rates of commercial banks on CZK deposits held by Czech residents – new business

Source: ARAD data series system

Within interest rates on new loans to households, credit card loans recorded the largest change in January. Interest rates on loans to non-financial corporations recorded the biggest change for loans of up to CZK 7.5 million.

The overall interest rate on consumer credit, loans for house purchase and other loans rose to 5.36%. The interest rate on consumer credit rose month on month to 8.02%. The interest rate on loans for house purchase decreased slightly to 4.55%. The interest rate on building society loans increased to 5.28%. The interest rate on mortgage loans decreased to 4.47%, down by 0.24 percentage point on a year earlier. The interest rate on other loans picked up to 5.19%. The interest rate on overdrafts and revolving loans decreased to 14.29%. Within this category, the interest rate on credit cards rose by 0.56 percentage point to 17.37% and the rate on overdrafts decreased to 15.45%.

Interest rates on new loans to non-financial corporations (excluding overdrafts, revolving loans and credit cards) were unchanged at 5.16%. The rate on loans of up to CZK 7.5 million rose by 0.59 percentage point to 6.22%. The rate on loans of over CZK 7.5 million and up to CZK 30 million edged up to 5.21% and the rate on new loans of over CZK 30 million decreased to 5.07%. The interest rate on overdrafts, revolving loans and credit card loans was up to 5.40%. The interest rate on overdrafts rose to 5.65%.

Chart 2 – Interest rates of commercial banks on CZK loans provided to Czech residents – new business
Interest rates of commercial banks on CZK loans provided to Czech residents – new business

Source: ARAD data series system

Interest rates on outstanding amounts

The average interest rates on outstanding amounts of deposits of households changed by just a few basis points in January. More pronounced changes were recorded for non-financial corporations.

The average changes in interest rates on outstanding amounts of loans to households were just a few basis points in January. Interest rates on outstanding amounts of loans to non-financial corporations changed at a similar pace.

The overall interest rate on loans to households edged up to 4.60%. The interest rate on loans for house purchase also rose, reaching 3.86% (with the rate on outstanding amounts of mortgage loans picking up to 3.73%). The rate on consumer credit dropped to 8.33% and the rate on other loans increased to 4.81%.

The average interest rate on loans to non-financial corporations edged up to 5.16%. The rate on loans with maturity of up to one year increased to 5.46%. The rate on loans with maturity of over one year and up to five years declined to 5.61%. The rate on loans with maturity of over five years was flat at 4.87%.

Notes: