Bank interest payments to accounts in credit fell 0.1% to 1.06%.
Overdraft interest on current accounts fell 0.43% to 10.28% in December, according to Bank of Israel data published today.
Bank interest payments to accounts in credit also fell 0.1% to 1.06%. The falls narrowed the gap between overdraft interest and interest payments on accounts in credit to 9.22%. The maximum interest rate on the grey market on non-bank loans was 18.72% in October
The average interest rate on credit to the public was 7.76% in December, and the interest on term credit was 7.22%. The average interest on deposits was 3.88%, and the average interest on term deposits was 4.31%.
The average interest rate spread between the interest on credit and the interest on unlinked shekel deposits narrowed by 0.18% to 3.88% in December. The banks’ financial spread on unlinked shekel instruments between the yield on assets and the cost of liabilities narrowed by 0.12% to 3.09%.
Published by Globes [online], Israel business news - www.globes.co.il - on February 4, 2007
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