Demand for new housing loans typically accelerates in spring, with drawdowns of housing loans peaking during the summer months. New drawdowns of housing loans in April amounted to EUR 1.6 bn, which is the highest amount, month-on-month, since October 2012. Due, in part, to the relatively large amount of new housing-loan drawdowns, the stock of housing loans rose to over EUR 90 bn in April. Growth in the housing loan stock was also affected by the fact that, because of interest-only periods, these loans are not repaid at the same pace as earlier. 

Although in uncertain economic times households are generally cautious about house purchases, the low level of interest rates and steadily narrowing housing loan margins have boosted the demand for housing loans. In April 2015, the average interest rate on new housing loans was at a record low of 1.49%. The average housing loan margin also narrowed in April, to 1.35%.


The stock of euro-denominated housing loans totalled EUR 90.1 bn at the end of April, and the annual growth rate of the housing loan stock was 1.8%. At end-April, household credit comprised EUR 13.6 bn in consumer credit and EUR 15.6 bn in other loans. 

New drawdowns of loans to non-financial corporations (excl. overdrafts and credit card credit) amounted in April to EUR 2.8 bn, which is EUR 0.7 bn more than a year earlier. The average interest rate on new corporate-loan drawdowns continued to decline and was 1.80% in April. At end-April, the stock of euro-denominated loans to non-financial corporations was EUR 70.1 bn, of which loans to housing corporations accounted for EUR 21.9 bn. 


At the end of April, the stock of household deposits totalled EUR 81.5 bn, and the average interest rate on the deposits was 0.35%. Overnight deposits accounted for EUR 56.1 bn and deposits with agreed maturity for EUR 12.2 bn of the total deposit stock. In April, households concluded EUR 0.6 bn of new agreements on deposits with agreed maturity, at an average interest rate of 1.02%.

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

  February, EUR million March, EUR million April, EUR million April, 12-month change1, % Average interest rate, %
Loans to households2, stock 118,933 119,134 119,352 2,0 1,83
    - of which housing loans 89,845 89,919 90,106 1,8 1,37
Loans to non-financial corporations2, stock  69,489 69,683 70,078 6,9 1,76
Deposits by households2, stock 80,901 80,376 81,529 -0,3 0,35
Households' new drawdowns of housing loans 1,197 1,493 1,595 1,49

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.
3 N
on-financial corporations also include housing corporations.

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

Markus Aaltonen, tel. +358 10 831 2395, email: markus.aaltonen(at)


The next news release will be published at 1 pm on 30 June 2015.
Related statistical data and graphs are also available on the Bank of Finland website:

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