Effective interest rates

Effective rates are average interest rates on loans or deposits calculated in a standard way. It is the interest chargeable or receivable during the period is divided by the average daily balance, and then annualised.

In this section

Outstanding business relates to the current stocks of loans and deposits.

New business relates to interest rates on loans and deposits agreed within the reporting month.

Mortgages

Effective interest rates for: individuals and individual trusts, on the stock outstanding of mortgages

Effective interest rates for: individuals and individual trusts, on new mortgages

Time deposits

Effective interest rates for: individuals and individual trusts, on the stock outstanding of time deposits

Effective interest rates for: individuals and individual trusts, on new time deposits

Loans

Effective interests rates for: individuals and individual trusts on the stock outstanding of other loans

Effective interest rates for: individuals and individual trusts, on new other loans

PNFCs deposits and loans

A PNFC is a private non-financial corporation.

Effective interest rates for: PNFCs, on stock outstanding of deposits and loans

Effective interest rates for: PNFCs on new deposits and loans

SMEs loans

SMEs (small or medium sized enterprises) are defined as PNFCs with annual debit turnover of £25 million or less (This is the definition which we use for form ER, and is in line with other statistical returns such as LN).

Effective interest rates for: SMEs, on the stock outstanding of loans

Effective interest rates for: SMEs, on new loans

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This page was last updated 31 January 2023