In July 2016, households' overnight deposits, i.e. the stock of deposits in traditional transaction accounts, rose to a record level, above EUR 60 bn. The amounts of these deposits have steadily increased over the last three years, by a total of EUR 10.7 bn, although the interest rate paid on transaction accounts is the lowest of the deposit rates (0.13%). In the same period the stock of deposits with agreed maturity has in turn declined by EUR 7.7 bn, to EUR 9.8 bn at the end of July. Households have clearly not wished to bind their assets at a low interest rate in deposits with agreed maturity, but prefer to keep them in accounts from which they are easily transferable to other use.

Overall, Finnish households' total assets in different deposit accounts exceed EUR 85 bn. This is more than ever before and equivalent to nearly 90% of households' stock of housing loans. In one year the stock of deposits has increased by EUR 3.4 bn.

As the stock of deposits has increased, the interest income has, however, decreased throughout the sector. In July, the average interest rate on deposits was 0.22%, against an 0.1 percentage point higher rate one year earlier. The average interest rate on overnight deposits was in turn 0.13% and on deposits with agreed maturity 0.80% in July 2016, as compared to 0.20% and 1.07% one year earlier.


Households' new housing-loan drawdowns amounted to EUR 1.8 bn in June 2016, on which the average interest rate was 1.21%. At the end of June, the stock of euro-denominated housing loans totalled EUR 93.1 bn and the annual growth rate of the housing loan stock was 2.7%. At end-June, household credit comprised EUR 14.3 bn in consumer credit and EUR 16.2 bn in other loans.

New drawdowns of loans to non-financial corporations (excl. overdrafts and credit card credit) amounted to EUR 1.5 bn in July 2016. The average interest rate on the drawdowns rose from June to 2.00 %. At the end of July, the stock of euro-denominated loans to non-financial corporations was EUR 74.5 bn, of which loans to housing corporations accounted for EUR 24.6 bn.


In July, households concluded EUR 0.7 bn of new agreements on deposits with agreed maturity, at an average interest rate of 0.46%.

MFIs comprise all monetary financial institutions operating in Finland.
Loans and deposits comprise all euro-denominated loans and deposits vis-à-vis the euro area as a whole, with countries other than Finland accounting for a very small share of total volumes.

Key figures of Finnish MFIs' loans and deposits, preliminary data

  May, EUR million June, EUR million July, EUR million July, 12-month change1, % Average interest rate, %
Loans to households2, stock 123,009 123,566 123,888 2,8 1,61
    - of which housing loans 92,707 93,087 93,293 2,6 1,13
Loans to non-financial corporations2, stock  73,665 74,261 74,464 4,6 1,53
Deposits by households2, stock 83,241 84,151 85,128 4,1 0,22
Households' new drawdowns of housing loans 1,748 1,805 1,349 1,18

1 Rate of change has been calculated from monthly differences in levels adjusted for classification and other revaluation changes. 
2 Households also include non-profit institutions serving households; non-financial corporations also include housing corporations.

For further information, please contact:
Johanna Honkanen, tel. +358 10 831 2992, email: johanna.honkanen(at),
Anne Turkkila, tel. +358 10 831 2175, email: anne.turkkila(at)

The next news release will be published at 1 pm on 30 September 2016.

Related statistical data and graphs are also available on the Bank of Finland website:

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