Cyprus savers continue to lag behind eurozone deposit returns

Cyprus banks continued to offer deposit rates well below the eurozone average in June 2026, while significant differences in both savings and lending rates persisted across individual lenders, according to a report published by the Central Bank of Cyprus (CBC) on Wednesday. The figures showed that differences between credit institutions reached as much as two percentage points in certain lending categories , highlighting the varying pricing strategies adopted by banks operating on the island. For household fixed-term deposits with a maturity of up to one year , the average interest rate in Cyprus stood at 1.42 per cent , compared with 2.03 per cent across the eurozone. Ancoria Bank offered the highest rate in this category at 1.66 per cent , followed closely by National Bank of Greece (Cyprus) at 1.64 per cent . Eurobank Limited offered 1.51 per cent , while Alpha Bank Cyprus provided 1.39 per cent and the Cyprus Development Bank offered 1.35 per cent . Lower returns were available from Societe Generale Bank Cyprus , which offered 1.12 per cent , followed by the Bank of Cyprus at 0.96 per cent and the Housing Finance Corporation at 0.84 per cent . A similar pattern emerged for fixed-term deposits of up to one year held by non-financial corporations , where the average rate in Cyprus reached 1.41 per cent , remaining well below the 2.19 per cent eurozone average. Alpha Bank Cyprus offered the highest return in this category at 2.05 per cent . It was followed by National Bank of Greece (Cyprus) with 1.73 per cent , Ancoria Bank with 1.60 per cent , Eurobank Limited with 1.43 per cent and the Cyprus Development Bank with 1.27 per cent . Among the lower-paying institutions, the Bank of Cyprus offered 1.16 per cent , Societe Generale Bank Cyprus provided 0.99 per cent , while the Housing Finance Corporation recorded the lowest rate at 0.43 per cent . For new mortgage loans , regardless of the initial interest rate fixation period, the average borrowing cost in Cyprus stood at 3.28 per cent , compared with 3.51 per cent across the eurozone. The Cyprus Development Bank recorded the highest mortgage rate at 4.15 per cent . The Housing Finance Corporation charged 3.36 per cent , Ancoria Bank 3.35 per cent , while both Societe Generale Bank Cyprus and the Bank of Cyprus offered mortgages at 3.28 per cent . Eurobank Limited charged 3.18 per cent , while Alpha Bank Cyprus offered the lowest mortgage rate at 2.71 per cent . The widest differences appeared in new business loans of up to €1 million , where the average interest rate in Cyprus reached 4.16 per cent . Banque SBA charged the highest rate at 7.17 per cent , more than 3.5 percentage points above the lowest rate in the category. Societe Generale Bank Cyprus followed with 5.39 per cent , while National Bank of Greece (Cyprus) charged 4.44 per cent . The Bank of Cyprus recorded a rate of 4.31 per cent , Ancoria Bank 4.17 per cent , Eurobank Limited 3.99 per cent , while Alpha Bank Cyprus offered the lowest rate at 3.57 per cent . For business loans exceeding €1 million , the average interest rate in Cyprus stood at 3.97 per cent . Ancoria Bank charged the highest rate in this category at 4.69 per cent . It was followed by National Bank of Greece (Cyprus) with 4.16 per cent , Eurobank Limited with 4.15 per cent , Alpha Bank Cyprus with 3.85 per cent and the Bank of Cyprus with 3.65 per cent . Finally, the Cyprus Development Bank recorded the lowest interest rate for business loans above €1 million at 3.53 per cent .