Commentary on MFI interest rates

March 2026

Interest rates on new business

In March, interest rates on new deposits of households recorded the same changes for most types of deposits. As regards non-financial corporations, interest rates on deposits with agreed maturity saw the largest change.

The interest rate on household deposits with agreed maturity increased by 0.02 percentage point to 2.95%. Interest rates on overnight deposits saw the same increase to 1.46%. At 0.13%, the rate on current account deposits remained flat. The interest rate on deposits redeemable at notice increased by 0.02 percentage point to 1.71% (this is the only rate to include, besides the household sector, similar deposits of non-financial corporations, which are negligible in this category).

The rate on deposits of non-financial corporations with agreed maturity rose by 0.05 percentage point to 2.96%. The interest rate on overnight deposits picked up marginally to 1.13%. The interest rate on current account deposits changed by the same amount, reaching 0.67%. 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 remunerated at a higher rate (2.96%).

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 March. Interest rates on loans to non-financial corporations recorded the biggest change for loans of over CZK 30 million.

The overall interest rate on consumer credit, loans for house purchase and other loans fell to 5.10%. The interest rate on consumer credit declined month on month to 7.11%. The interest rate on loans for house purchase decreased to 4.51%. The interest rate on building society loans decreased slightly, reaching 5.25%. The interest rate on mortgage loans dropped to 4.45%, down by 0.23 percentage point on a year earlier. The interest rate on other loans declined to 5.06%. The interest rate on overdrafts and revolving loans increased to 14.33%. Within this category, the interest rate on credit cards fell by 0.39 percentage point to 17.00%, whereas the rate on overdrafts increased to 15.56%.

Interest rates on new loans to non-financial corporations (excluding overdrafts, revolving loans and credit cards) decreased to 5.08%. The rate on loans of up to CZK 7.5 million rose to 6.05%. The rate on loans of over CZK 7.5 million and up to CZK 30 million grew to 5.30% and the rate on new loans of over CZK 30 million decreased by 0.17 percentage point to 4.99%. The interest rate on overdrafts, revolving loans and credit card loans decreased to 5.33%. Within this category, the interest rate on overdrafts declined to 5.58%.

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 March. Similar 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 March. 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 4.63%. The interest rate on loans for house purchase also rose, reaching 3.92% (with the rate on outstanding amounts of mortgage loans picking up to 3.79%). The rate on consumer credit dropped to 8.18% and the rate on other loans increased to 4.85%.

The average interest rate on loans to non-financial corporations edged up to 5.17%. The rate on loans with maturity of up to one year decreased to 5.38%. The rate on loans with maturity of over one year and up to five years rose to 5.63%. The rate on loans with maturity of over five years also increased, reaching 4.90%.

Notes: