Average rates for new business loans continued to ease in the 3rd quarter of 2024, according to Iédom.
The average interest rate for new equipment loans contracts by 28 basis points (pdb) between April and July 2024, after -18 bps the previous quarter. It stood at 4,37% in July, close to the average rate in France (4,33 %). These credits are subscribed at fixed rate, for an average duration of six years and an average amount of 214,000 euros.
The average interest rate on new corporate real estate loans is also falling, 105 bps compared to the previous quarter. The average interest rate on overdrafts increased from 6,80% at 4,90% between April and July 2024, while that of new maturing cash credits increased by 63 bps, this increase coming from a few high amount loans. Personal loan rates, for their part, began to decline in the 3rd quarter, in the wake of the reduction in key rates from the European Central Bank starting in June 2024. The average rate of home loans falls by 62 bps compared to the previous quarter. It stands at 3,31% as of July 2024, i.e. 11 bps below the average rate granted at the national level. The average duration of home loans reaches twenty-one years, for an average loan amount of 144,000 euros. The average rate of new personal loans and other consumer credits also decreases in the 3rd quarter, of 21 pdb. It is 13 bps lower than the national average rate. The average duration of personal loans is five years, for an average amount of 16,000 euros. Against this trend, the average overdraft rate has increased significantly, at 17,23 % (+83 pdb) au 3e trimestre 2024.
