In June 2018, households' new drawdowns of holiday residence loans amounted to EUR 102 million, which is almost as much as a year earlier in June. The total amount of drawdowns in the first part of the year (EUR 361 million) also remained virtually unchanged compared to the year-earlier period. The volume of drawdowns usually peaks in June. The average interest rate on new holiday residence loans was 1.09% in June 2018, compared with 1.26% a year earlier.

The stock of holiday residence loans has already for quite some time grown at the same pace as the stock of housing loans, at an annual rate of close to 2%. In June 2018, the annual growth rate of the stock of holiday residence loans was 1.7% and that of the stock of conventional housing loans was 2.2%. The stock of loans taken out for housing purposes exceeded EUR 100 bn in May 2018 and was EUR 100.6 bn in June, comprising EUR 97.1 bn in housing loans and EUR 3.6. bn in holiday residence loans by households.

The moderate growth in the stock of holiday residence loans is partly explained by the pace of growth in the number of holiday residences, which has been weaker than before. Moreover, the low level of interest rates has boosted the pace of loan amortisation. On the other hand, in recent years the purchase prices of holiday residences have not changed notably, year-on-year, which has maintained the demand for loans.


Households' new drawdowns of housing loans in June 2018 amounted to EUR 1.8 bn. The average interest rate on new housing-loan drawdowns was 0.87% and the imputed margin was 0.85%. At the end of June 2018, the stock of euro-denominated housing loans totalled EUR 97.1 bn. Household credit at end-June comprised EUR 15.6 bn in consumer credit and EUR 16.8 bn in other loans.

New drawdowns of loans to non-financial corporations (excl. overdrafts and credit card credit) amounted to EUR 2.9 bn in June. The average interest rate on new corporate-loan drawdowns declined from May, to 1.61%. At the end of June, the stock of euro-denominated loans to non-financial corporations was EUR 83.1 bn, of which loans to housing corporations accounted for EUR 30.0 bn.


At the end of June, the stock of household deposits totalled EUR 87.1 bn and the average interest rate on the deposits was 0.12%. Overnight deposits accounted for EUR 73.4 bn and deposits with agreed maturity for EUR 6.0 bn of the deposit stock. In June, households concluded EUR 0.7 bn of new agreements on deposits with agreed maturity, at an average interest rate of 0.20%.

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

  April, EUR million May, EUR million June, EUR million June, 12-month change1, % Average interest rate, %
Loans to households2, stock 128,528 128,981 129,555 2,6 1,49
    - of which housing loans 96,307 96,698 97,080 2,2 0,99
Loans to non-financial corporations2, stock  81,246 81,863 83,112 6,3 1,38
Deposits by households2, stock 89,171 89,667 91,108 4,6 0,12
Households' new drawdowns of housing loans 1,584 1,762 1,770   0,87

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:
Olli Tuomikoski, tel. +358 9 183 2146, email: olli.tuomikoski(at)

The next news release will be published at 1 pm on 31 August 2018.

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