The latest figures from the Central Bank of Cyprus for February 2026 show that average interest rates on deposits, mortgage loans and business loans moved marginally lower or remained broadly unchanged compared with December 2025. At the same time, significant differences persist between banks, indicating that customers still have scope to shop around.
Deposit rates in Cyprus remain below the eurozone average, while lending rates present a more balanced picture. Business loans are more expensive, while mortgage loans are cheaper. Overall, deposit pricing continues to reflect excess liquidity in the banking system, while loan rates show greater convergence with the eurozone average.
Deposits
For new household time deposits with a maturity of up to one year, the average rate across all banks in Cyprus remained almost unchanged, edging down from 1.20 percent in December 2025 to 1.19 percent in February 2026. Over the same period, the eurozone average rose slightly from 1.77 percent to 1.78 percent.
The National Bank of Greece (Cyprus) offered the highest rate on new time deposits at 1.61 percent. Ancoria Bank followed at 1.45 percent, while Alpha Bank Cyprus offered 1.43 percent, having slightly increased returns since the end of 2025.
Eurobank Limited offered deposit rates of 1.18 percent, close to the Cypriot average. Société Générale Bank Cyprus rose to 0.97 percent in February, from 0.74 percent in December. The Housing Finance Corporation stood slightly lower at 0.84 percent, while Bank of Cyprus remained further down at 0.81 percent.
Mortgage loans
For new mortgage loans for house purchases, covering new contracts regardless of the initial fixation period, the weighted average rate fell from 3.11 percent in December 2025 to about 3.04 percent in February 2026. In contrast, the eurozone average rose from 3.32 percent to 3.41 percent, leaving Cyprus with a modest but tangible cost advantage.
The lowest mortgage rates were offered by the National Bank of Greece (Cyprus), with an average of around 2.01 percent. Slightly higher was the Cyprus Development Bank at 2.18 percent in February, having significantly reduced its rates compared with the end of 2025.
Alpha Bank Cyprus followed at 2.76 percent, while Eurobank Limited stood at 2.92 percent, close to the Cypriot average. Bank of Cyprus priced new mortgage loans at about 3.19 percent, slightly above the domestic average but still below the eurozone level.
Ancoria Bank recorded an average rate of 3.38 percent, while the Housing Finance Corporation reached 3.41 percent, up from December levels. Société Générale Bank Cyprus stood out with a significantly higher average rate of 5.14 percent.
These wide differences underline that mortgage pricing in Cyprus remains largely a matter of individual bank strategy and targeting specific customer segments.
Business loans up to €1 million
For new business loans of up to €1 million, the average interest rate in February 2026 stood at 4.06 percent, down from 4.20 percent at the end of 2025.
Across all new business lending up to €1 million, regardless of the initial rate fixation period, the Cypriot average was 4.02 percent in February, compared with 4.15 percent at the end of 2025. In the eurozone, the corresponding figures were 3.85 percent and 3.83 percent.
In new contracts, Eurobank Limited offered the lowest average rate at 3.76 percent, well below the Cypriot average. The National Bank of Greece (Cyprus) followed at 3.86 percent, with Ancoria Bank at 4.12 percent and Alpha Bank Cyprus at 4.16 percent.
Bank of Cyprus priced business loans slightly higher at 4.26 percent, while the Cyprus Development Bank stood at 4.74 percent. Société Générale Bank Cyprus recorded the highest rate at 5.61 percent.