Mortgage rates in Cyprus showed significant variation in March 2025, with interest rates depending largely on the lending bank and loan structure. According to data released by the Central Bank of Cyprus (CBC), the highest average rate for new housing loans reached 5.24%, while the lowest came in at just 2.50%.
Mortgage Interest Rates: Who’s Charging What?
For new home loans with a variable interest rate and an initial fixed period of up to one year, Bank of Cyprus offered the steepest rate at 5.24%. Eurobank Cyprus followed at 4.58%. On the opposite end of the spectrum, Hellenic Bank provided the most competitive rate, with an average of just 2.50%.
Looking at loans with a variable rate and a fixed period between one and five years, Bank of Cyprus again had the highest rate at 4.53%. Meanwhile, Ancoria Bank stood out as the most affordable option in this category, with a rate of 2.94%.
Business Loans: Big Differences in Rates
CBC’s data also covered lending to non-financial corporations borrowing up to €1 million. Banque SBA topped the chart with the highest average interest rate at 7.04%, followed by the Cyprus Development Bank at 6.09%. Alpha Bank offered the lowest rate in this category, averaging 3.95%.
Deposit Rates: Modest Gains for Savers
For households placing time deposits of up to one year, the most generous interest came from Arab Jordan Investment Bank SA, offering 2%. Eurobank Cyprus followed closely at 1.88%. On the lower end, Astrobank provided just 0.92%.
For corporate clients, Astrobank offered the highest rate for time deposits—2.15%. In contrast, Bank of Cyprus had the lowest average rate in this category, at 0.90%.
Source: Stockwatch.com.cy