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Three Banks Offer the Same Interest Rate on Mortgages in Cyprus

Published January 15, 2026, 07:21
Three Banks Offer the Same Interest Rate on Mortgages in Cyprus

Three Cypriot banks, Bank of Cyprus, Eurobank Ltd, and Ancoria Bank, are offering the same average interest rate of 2.98% on mortgages as of November 2025, according to data from the Central Bank. Alpha Bank follows with a slightly lower rate of 2.81%, while smaller banks have higher borrowing costs. In contrast, the business loan sector is experiencing greater competition, with Alpha Bank offering the lowest interest rate for loans up to €1 million (3.31%) and the National Bank of Greece (Cyprus) following with 3.78%. For business loans over €1 million, Alpha Bank maintains the lowest interest rate (3.64%), followed by the National Bank of Greece (Cyprus) and Bank of Cyprus. Deposit interest rates in Cyprus remain low compared to the Eurozone, possibly due to the high liquidity of Cypriot banks. Larger banks offer lower deposit interest rates to households (0.67% at Bank of Cyprus, 1.11% at Eurobank Ltd, and 1.36% at Alpha Bank), while smaller banks have higher rates. The Central Bank reports that Ancoria Bank's deposit rates are 1.47%, the National Bank of Greece 1.49%, and the Cyprus Development Bank 1.25%. Societe Generale Bank Cyprus and the Housing Finance Organisation offer rates of 0.86% and 0.80% respectively. The difference in deposit rates between large and small banks highlights the impact of liquidity on interest rate policy. Overall, the mortgage market shows restrained competition in interest rates, while the business loan market is more competitive. Low deposit rates indicate the strong liquidity position of Cypriot banks.