Cyprus’s housing loan market is split down the middle, with three banks charging below 3% and three above, according to Central Bank data for December 2025.
Alpha Bank and Ancoria Bank are competing for the lowest commercial housing loan rates, offering 2.71% and 2.78% respectively. Cyprus Development Bank offers the lowest market rate at 2.39%, the data shows.
Eurobank Ltd charges 3.03% for new housing loans, the Housing Finance Organisation charges 3.20%, and Bank of Cyprus charges 3.25%.
Banks wanting to increase their market share are more competitive on interest rates, the Central Bank said.
Prospective borrowers should compare rates and terms from different credit institutions before signing an agreement, according to banking regulations. Before signing, banks are obliged to provide consumers with standardised European consumer credit information (SECCI) or standardised European information on housing loans (ESIS) documents, which allow accurate comparison.
Comparing different offers helps borrowers avoid over-indebtedness, choose the loan with the lowest total burden, and understand whether the rate is fixed or variable and how it is calculated, such as through Euribor. Borrowers should not only look at the nominal rate but at the Annual Percentage Rate of Charge (APRC), which includes interest, commissions and file costs, the regulations state.
For business loans up to €1 million, eight credit institutions offer financing. National Bank of Greece (Cyprus) offers the lowest rate at 3.02%, followed by Societe Generale Cyprus at 3.73%, Eurobank Ltd at 3.88%, Cyprus Development Bank at 4.17%, Bank of Cyprus at 4.36%, Alpha Bank Cyprus at 4.61%, Ancoria Bank at 4.98%, and Banque SBA at 6.63%.
Only four banks provide business loans above €1 million, meaning competition in this category is limited. National Bank of Greece (Cyprus) offers the lowest rate at 3.79%, followed by Eurobank Ltd at 3.81%, Alpha Bank Cyprus at 3.83%, and Bank of Cyprus at 4.07%.
Market research shows considerable competition exists for deposits.
For household deposits with maturity up to one year, National Bank offers the highest rate at 1.54% for December, followed by Ancoria Bank at 1.50%, Cyprus Development Bank at 1.41%, Alpha Bank at 1.38%, Eurobank Ltd at 1.18%, and Jordan Ahli Bank at 1.10%. Bank of Cyprus offers 0.94%, the Housing Finance Organisation 0.83%, and Societe Generale Cyprus 0.74%.
For business deposits with maturity up to one year, National Bank of Greece (Cyprus) offers the highest rate at 1.59%, followed by Ancoria Bank at 1.57%, Eurobank Ltd at 1.39%, Cyprus Development Bank at 1.38%, the Housing Finance Organisation at 1.15%, Societe Generale Cyprus at 1.10%, Bank of Cyprus at 0.98%, and Alpha Bank Cyprus at 0.97%.