Bank of Portugal published statistics on interest rates and amounts of new loans and deposits for companies and households referring to July 2026, revealing increases in rates on new time deposits, a new historical high in the volume of personal investments, and a new record in the average housing loan payment.
The average interest rate on new personal time deposits increased for the sixth consecutive month, rising from 1.55% in June to 1.59% in July. The amount of these new operations reached 13,704 million euros, 1,686 million more than the previous month and a new historical high. Deposits with terms of up to one year represented 95% of the total. For companies, the average rate stood at 1.98% and the volume of new operations rose to 11,433 million euros.
New credit operations to households totaled 3,839 million euros in July, driven mainly by housing loans, which increased by 57 million to 2,836 million euros. The average interest rate on new housing credit operations increased to 2.96% and the average monthly payment of the housing loan stock reached a new historical high of 441 euros, 5 euros more than in June.
In July, 86% of new housing loans were contracted at mixed rate, with the average rate rising to 2.83%. In variable-rate contracts, the average rate advanced to 3.19%. Portugal maintains the fifth lowest average rate in the euro area for both deposits and housing loans.
