At the end of November 2020, the stock of housing corporation loans was EUR 34 bn. The annual growth rate was 6,9%. While growth remains fairly strong, it has been slowing steadily since April. Growth in housing corporation loans has not been this slow since May 2009.

In November 2020, housing corporations drew down EUR 370 million in new loans, a decrease of 25% on the same period a year earlier. In January–November 2020, housing corporation loan drawdowns decreased by nearly 16% on the same period a year earlier. The decline in loan drawdowns is partly attributable to a contraction in residential construction and postponement of renovations due to the COVID-19 pandemic. The downward trend in the amount of drawdowns has continued since 2018. The average interest rate on new loans has increased slightly during the year and was 1.23% in November.

Housing rental agencies are also included in the statistic as housing corporations, but most of the housing corporation loans are held by housing companies. Housing companies in the six largest cities account for 61% of all loans to housing companies. There are major regional differences in loan stock development and interest rates. A comprehensive analysis article on housing company loans was published in December (in Finnish only).



Households’ drawdowns of new housing loans in November 2020 amounted to EUR 1.9 bn, up by EUR 0.2 bn on the corresponding period a year earlier. At the end of November 2020, the stock of euro-denominated housing loans totalled EUR 103.3 bn and the annual growth rate of the stock was 3.0%. Household credit at end-November comprised EUR 16.7 bn in consumer credit and EUR 18.3 bn in other loans.

New drawdowns of loans to non-financial corporations (excl. overdrafts and credit card credit) in November amounted to EUR 1.4 bn. The average interest rate on new corporate loan drawdowns fell from October, to 2.07%. At the end of November, the stock of euro-denominated corporate loans totalled EUR 97.0 bn.


The stock of Finnish households’ deposits at the end of November 2020 totalled EUR 102.8 bn and the average interest rate on the deposits was 0.05%. Overnight deposits accounted for EUR 90.5 bn and deposits with an agreed maturity for EUR 3.9 bn of the deposit stock. In November households concluded EUR 271 million of new agreements on deposits with agreed maturity, at an average interest rate of 0.10%.

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

  September, EUR million October, EUR million November, EUR million November, 12-month change1, % Average interest rate, %
Loans to households2, stock 137,502 138,056 138,286 3,1 1,37
    - of which housing loans 102,462 102,970 103,251 3,0 0,85
Loans to non-financial corporations2, stock  97,254 97,316 97,021 6,9 1,30
Deposits by households2, stock 106,885 107,594 106,938 7,4 0,05
Households' new drawdowns of housing loans 1,883 1,999 1,875   0,70

* Includes euro-denominated loans and deposits to euro area.
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)

Anu Karhu, tel. +358 9 183 2228, email: anu.karhu(at)

The next news release will be published at 10 am on 1 February 2021.