List of countries by commercial bank prime lending rate

Last updated May 16, 2024

This is a list of countries by a simple average of commercial banks' annualized interest rates charged on new loans to their most credit-worthy customers. Each entry is denominated in the respective national currency.^[1]

List

Rank	Country	Commercial bank prime lending rate	Date of information
1	Madagascar	64.00	31 December 2017 est.
2	Brazil	10.50	08 May 2024
3	Congo, Democratic Republic of the	35.90	31 December 2017 est.
4	Syria	33.30	31 December 2017 est.
5	Gambia, The	30.60	31 December 2017 est.
6	Tajikistan	30.00	31 December 2017 est.
7	Ghana
8	Mozambique	27.00	31 December 2017 est.
9	Malawi	26.90	31 December 2017 est.
10	Yemen	26.00	31 December 2017 est.
11	Argentina	40.00	14 May 2024
12	Venezuela	23.80	31 December 2017 est.
13	Guinea	21.50	31 December 2017 est.
14	Suriname	20.50	31 December 2017 est.
15	Uganda	20.28	December 2017 est.
16	Kyrgyzstan	20.10	31 December 2017 est.
17	Angola	20.00	31 December 2017 est.
18	Mongolia	19.90	31 December 2017 est.
19	Honduras	19.70	31 December 2017 est.
20	Egypt	19.50	31 December 2017 est.
21	Sao Tome and Principe	18.90	31 December 2017 est.
22	Sierra Leone	18.60	31 December 2017 est.
23	Laos	18.50	31 December 2017 est.
24	Paraguay	18.50	31 December 2017 est.
25	Iran	18.00	31 December 2017 est.
26	Zimbabwe	18.00	31 December 2017 est.
27	Nigeria	17.50	31 December 2017 est.
28	Kenya	17.00	31 December 2017 est.
29	Mauritania	17.00	31 December 2017 est.
30	Rwanda	16.90	31 December 2017 est.
31	Peru	16.50	31 December 2017 est.
32	Ukraine	16.50	31 December 2017 est.
33	Senegal	16.30	31 December 2017 est.
34	Uzbekistan	16.00	31 December 2016 est.
35	Armenia	16.00	31 December 2017 est.
36	Burundi	15.90	31 December 2017 est.
37	Micronesia, Federated States of	15.70	31 December 2017 est.
38	Central African Republic	15.50	31 December 2017 est.
39	Chad	15.50	31 December 2017 est.
40	Gabon	15.50	31 December 2017 est.
41	Zambia	15.50	31 December 2017 est.
42	Liberia	15.20	31 December 2017 est.
43	Turkey	15.20	31 December 2017 est.
44	Guinea-Bissau	15.00	31 December 2017 est.
45	Tanzania	15.00	31 December 2017 est.
46	Afghanistan	15.00	31 December 2016 est.
47	Jamaica	14.91	31 December 2017
48	Timor-Leste	14.90	31 December 2017 est.
49	Dominican Republic	8.30	30 June 2021 est.
50	Curacao	14.50	31 December 2011 est.
51	Kazakhstan	14.10	31 December 2017 est.
52	Haiti	14.00	31 December 2017 est.
53	Congo, Republic of the	14.00	31 December 2017 est.
54	Belarus	14.00	31 December 2017 est.
55	Burma	14.00	31 December 2017 est.
56	Equatorial Guinea	14.00	31 December 2017 est.
57	Colombia	13.80	31 December 2017 est.
58	Bhutan	13.60	31 December 2017 est.
59	Uruguay	13.60	31 December 2017 est.
60	Guatemala	13.50	31 December 2017 est.
61	South Sudan	13.38	December 2017
62	Guyana	13.30	31 December 2017 est.
63	Cameroon	13.00	31 December 2017 est.
64	Ethiopia	13.00	31 December 2017 est.
65	Azerbaijan	12.40	31 December 2017 est.
66	Seychelles	12.40	31 December 2017 est.
67	Nicaragua	12.20	31 December 2017 est.
68	Lesotho	12.00	31 December 2017 est.
69	Sri Lanka	11.80	31 December 2017 est.
70	Costa Rica	11.80	31 December 2017 est.
71	Indonesia	11.70	31 December 2017 est.
72	Eswatini	11.70	31 December 2017 est.
73	Djibouti	11.60	31 December 2017 est.
74	Georgia	11.50	31 December 2017 est.
75	Cambodia	11.10	31 December 2017 est.
76	Tuvalu	10.60	31 December 2013 est.
77	Maldives	10.50	31 December 2012 est.
78	Comoros	10.50	31 December 2017 est.
79	South Africa	8.75	31 December 2017 est.
80	Moldova	10.30	31 December 2017 est.
81	Russia	10.30	31 December 2017 est.
82	Bangladesh	10.20	31 December 2017 est.
83	Solomon Islands	10.20	31 December 2017 est.
84	Cabo Verde	10.00	31 December 2017 est.
85	Bolivia	9.90	31 December 2017 est.
86	Namibia	9.90	31 December 2017 est.
87	Belize	9.60	31 December 2017 est.
88	Antigua and Barbuda	9.60	31 December 2017 est.
89	India	6.70	30 August 2021 est.
90	Anguilla	9.10	31 December 2017 est.
91	Saint Kitts and Nevis	9.10	31 December 2017 est.
92	Saint Vincent and the Grenadines	9.00	31 December 2017 est.
93	Trinidad and Tobago	9.00	31 December 2017 est.
94	Nepal	9.00	31 December 2017 est.
95	Mali	9.00	31 December 2017 est.
96	Samoa	8.90	31 December 2017 est.
97	Jordan	8.80	31 December 2017 est.
98	Lebanon	8.60	31 December 2017 est.
99	Aruba	8.50	31 December 2017 est.
100	Grenada	8.50	31 December 2017 est.
101	Mauritius	8.50	31 December 2017 est.
102	Papua New Guinea	8.40	31 December 2017 est.
103	Saudi Arabia	8.30	31 December 2017 est.
104	Saint Lucia	8.30	31 December 2017 est.
105	Togo	8.29	31 December 2015 est.
106	Panama	8.20	31 December 2017 est.
107	Dominica	8.10	31 December 2017 est.
108	Barbados	8.10	31 December 2017 est.
109	Tonga	8.10	31 December 2017 est.
110	Algeria	8.00	31 December 2017 est.
111	Ecuador	7.75	31 December 2017 est.
112	Iceland	7.60	31 December 2017 est.
113	Serbia	7.60	31 December 2017 est.
114	Mexico	7.45	31 December 2017 est.
115	Tunisia	7.31	31 December 2016 est.
116	Libya	7.30	31 December 2017 est.
117	Albania	7.20	31 December 2017 est.
118	Pakistan	7.00	31 December 2017 est.
119	Montserrat	7.00	31 December 2017 est.
120	Kosovo	6.83	31 December 2017 est.
121	Montenegro	6.81	31 December 2017 est.
122	Vietnam	6.80	31 December 2017 est.
123	West Bank	6.70	31 December 2017 est.
124	Botswana	6.50	31 December 2017 est.
125	El Salvador	6.47	31 December 2017 est.
126	Macedonia	6.20	31 December 2017 est.
127	Thailand	6.20	31 December 2017 est.
128	Fiji	6.00	31 December 2017 est.
129	San Marino	5.92	31 December 2011 est.
130	Bulgaria	5.80	31 December 2017 est.
131	Bahrain	5.70	31 December 2017 est.
132	Romania	5.70	31 December 2017 est.
133	Morocco	5.70	31 December 2017 est.
134	Macau	5.50	31 December 2017 est.
135	Greece	5.50	31 December 2017 est.
136	Brunei	5.50	31 December 2017 est.
137	Oman	5.40	31 December 2017 est.
138	Cote d'Ivoire	5.40	31 December 2017 est.
139	Niger	5.40	31 December 2017 est.
140	Australia	5.30	31 December 2017 est.
141	Burkina Faso	5.30	31 December 2017 est.
142	Benin	5.30	31 December 2017 est.
143	Singapore	5.28	31 December 2017 est.
144	Kuwait	5.20	31 December 2017 est.
145	Qatar	5.00	31 December 2017 est.
146	Puerto Rico	5.00	31 December 2017 est.
147	Hong Kong	5.00	31 December 2017 est.
148	New Zealand	4.90	31 December 2017 est.
149	Poland	4.80	31 December 2017 est.
150	Latvia	4.60	31 December 2017 est.
151	Chile	4.60	31 December 2017 est.
152	Bosnia and Herzegovina	4.50	31 December 2017 est.
153	Malaysia	5.40	6 August 2020^[2]
154	China	4.30	5 December 2017 est.
155	United States	7.00	16 December 2022^[3]
156	United Kingdom	4.30	31 December 2017 est.
157	Bahamas, The	4.30	31 December 2017 est.
158	Estonia	4.20	31 December 2017 est.
159	Cyprus	4.20	31 December 2017 est.
160	Philippines	4.19	31 December 2017 est.
161	Iraq	4.00	31 December 2017 est.
162	Croatia	3.91	31 December 2017 est.
163	Czechia	3.90	31 December 2017 est.
164	Ireland	3.80	31 December 2017 est.
165	Vanuatu	3.70	31 December 2017 est.
166	Portugal	3.50	31 December 2017 est.
167	Korea, South	3.40	31 December 2017 est.
168	Israel	3.30	31 December 2017 est.
169	Italy	3.30	31 December 2017 est.
170	Malta	3.00	31 December 2017 est.
171	Denmark	2.90	31 December 2017 est.
172	Canada	6.45	17 December 2022^[4]
173	Slovenia	2.90	31 December 2017 est.
174	Lithuania	2.90	31 December 2017 est.
175	Taiwan	2.70	31 December 2017 est.
176	Switzerland	2.60	31 December 2017 est.
177	Slovakia	2.60	31 December 2017 est.
178	Spain	2.20	31 December 2017 est.
179	Sweden	2.00	31 December 2017 est.
180	Belgium	2.00	31 December 2017 est.
181	Germany	1.80	31 December 2017 est.
182	Austria	1.70	31 December 2017 est.
183	Finland	1.60	31 December 2017 est.
184	Hungary	1.60	31 December 2017 est.
185	Netherlands	1.50	31 December 2017 est.
186	Norway	1.50	31 December 2017 est.
187	Japan	0.00 - 0.10	17 May 2024^[5]
188	France	1.40	31 December 2017 est.

Related Research Articles

<span class="mw-page-title-main">Central bank</span> Government body that manages currency and monetary policy

A central bank, reserve bank, national bank, or monetary authority is an institution that manages the currency and monetary policy of a country or monetary union. In contrast to a commercial bank, a central bank possesses a monopoly on increasing the monetary base. Many central banks also have supervisory or regulatory powers to ensure the stability of commercial banks in their jurisdiction, to prevent bank runs, and in some cases also to enforce policies on financial consumer protection and against bank fraud, money laundering, or terrorism financing.

The Federal Reserve System is the central banking system of the United States. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a series of financial panics led to the desire for central control of the monetary system in order to alleviate financial crises. Over the years, events such as the Great Depression in the 1930s and the Great Recession during the 2000s have led to the expansion of the roles and responsibilities of the Federal Reserve System.

The Bank of Japan is the central bank of Japan. The bank is often called Nichigin (日銀) for short. It is headquartered in Nihonbashi, Chūō, Tokyo.

The London Inter-Bank Offered Rate was an interest rate average calculated from estimates submitted by the leading banks in London. Each bank estimates what it would be charged were it to borrow from other banks. It is the primary benchmark, along with the Euribor, for short-term interest rates around the world. Libor was phased out at the end of 2021, and market participants are being encouraged to transition to risk-free interest rates such as SOFR and SARON.

The Reserve Bank of India, abbreviated as RBI, is India's central bank and regulatory body responsible for regulation of the Indian banking system. Owned by the Ministry of Finance, Government of India, it is responsible for the control, issue and maintaining supply of the Indian rupee. It also manages the country's main payment systems and works to promote its economic development. Bharatiya Reserve Bank Note Mudran (BRBNM) is a specialised division of RBI through which it prints and mints Indian currency notes (INR) in two of its currency printing presses located in Mysore and Salboni. The RBI, along with the Indian Banks' Association, established the National Payments Corporation of India to promote and regulate the payment and settlement systems in India. Deposit Insurance and Credit Guarantee Corporation was established by RBI as one of its specialized division for the purpose of providing insurance of deposits and guaranteeing of credit facilities to all Indian banks.

<span class="mw-page-title-main">Prime rate</span> Interest rate at which banks lend to customers with good credit

A prime rate or prime lending rate is an interest rate used by banks, usually the interest rate at which banks lend to customers with good credit. Some variable interest rates may be expressed as a percentage above or below prime rate.

In the United States, the federal funds rate is the interest rate at which depository institutions lend reserve balances to other depository institutions overnight on an uncollateralized basis. Reserve balances are amounts held at the Federal Reserve. Institutions with surplus balances in their accounts lend those balances to institutions in need of larger balances. The federal funds rate is an important benchmark in financial markets and central to the conduct of monetary policy in the United States as it influences a wide range of market interest rates.

Reserve requirements are central bank regulations that set the minimum amount that a commercial bank must hold in liquid assets. This minimum amount, commonly referred to as the commercial bank's reserve, is generally determined by the central bank on the basis of a specified proportion of deposit liabilities of the bank. This rate is commonly referred to as the cash reserve ratio or shortened as reserve ratio. Though the definitions vary, the commercial bank's reserves normally consist of cash held by the bank and stored physically in the bank vault, plus the amount of the bank's balance in that bank's account with the central bank. A bank is at liberty to hold in reserve sums above this minimum requirement, commonly referred to as excess reserves.

Money creation, or money issuance, is the process by which the money supply of a country, or an economic or monetary region, is increased. In most modern economies, money is created by both central banks and commercial banks. Money issued by central banks is termed reserve deposits and is only available for use by central bank account holders, which are generally large commercial banks and foreign central banks. Central banks can increase the quantity of reserve deposits directly, by engaging in open market operations or quantitative easing. However, the majority of the money supply used by the public for conducting transactions is created by the commercial banking system in the form of bank deposits. Bank loans issued by commercial banks expand the quantity of bank deposits.

Bank rate, also known as discount rate in American English, and (familiarly) the base rate in British English, is the rate of interest which a central bank charges on its loans and advances to a commercial bank. The bank rate is known by a number of different terms depending on the country, and has changed over time in some countries as the mechanisms used to manage the rate have changed.

The Bank of Canada is a Crown corporation and Canada's central bank. Chartered in 1934 under the Bank of Canada Act, it is responsible for formulating Canada's monetary policy, and for the promotion of a safe and sound financial system within Canada. The Bank of Canada is the sole issuing authority of Canadian banknotes, provides banking services and money management for the government, and loans money to Canadian financial institutions. The contract to produce the banknotes has been held by the Canadian Bank Note Company since 1935.

Modern monetary theory or modern money theory (MMT) is a heterodox macroeconomic theory that describes currency as a public monopoly and unemployment as evidence that a currency monopolist is overly restricting the supply of the financial assets needed to pay taxes and satisfy savings desires. According to MMT, governments do not need to worry about accumulating debt in and of itself since they create new money by using fiscal policy in order to pay interest. MMT argues that the primary risk once the economy reaches full employment is inflation, which acts as the only constraint on spending. MMT also argues that inflation can be controlled by increasing taxes on a broad-base of the population, to reduce the spending capacity of the private sector.

The Central Bank of Nigeria (CBN) is the central bank and apex monetary authority of Nigeria established by the CBN Act of 1958 and commenced operations on 1 July 1959. The major regulatory objectives of the bank as stated in the CBN Act are to: maintain the external reserves of the country, promote monetary stability and a sound financial environment, and act as a banker of last resort and financial adviser to the federal government. The central bank's role as lender of last resort and adviser to the federal government has sometimes pushed it into murky regulatory waters. After the end of imperial rule, the desire of the government to become proactive in the development of the economy became visible, especially after the end of the Nigerian civil war, the bank followed the government's desire and took a determined effort to supplement any show shortfalls, credit allocations to the real sector. The bank became involved in lending directly to consumers, contravening its original intention to work through commercial banks in activities involving consumer lending.

Peer-to-peer lending, also abbreviated as P2P lending, is the practice of lending money to individuals or businesses through online services that match lenders with borrowers. Peer-to-peer lending companies often offer their services online, and attempt to operate with lower overhead and provide their services more cheaply than traditional financial institutions. As a result, lenders can earn higher returns compared to savings and investment products offered by banks, while borrowers can borrow money at lower interest rates, even after the P2P lending company has taken a fee for providing the match-making platform and credit checking the borrower. There is the risk of the borrower defaulting on the loans taken out from peer-lending websites.

LendingClub is a financial services company headquartered in San Francisco, California. It was the first peer-to-peer lender to register its offerings as securities with the Securities and Exchange Commission (SEC), and to offer loan trading on a secondary market. At its height, LendingClub was the world's largest peer-to-peer lending platform. The company reported that $15.98 billion in loans had been originated through its platform up to December 31, 2015.

Sveriges Riksbank, or simply the Riksbank, is the central bank of Sweden. Founded in 1668, it is the world's oldest surviving central bank, and the third oldest bank in continuous operation. Until the 20th century, it was also the only state-owned central bank outside of the Russian Empire.

The overnight policy rate is an overnight interest rate set by Bank Negara Malaysia (BNM) used for monetary policy direction. It is the target rate for the day-to-day liquidity operations of the BNM. The overnight policy rate (OPR) is the interest rate at which a depository institution lends immediately available funds to another depository institution overnight. The amount of money a bank has fluctuates daily based on its lending activities and its customers’ withdrawal and deposit activity, therefore the bank may experience a shortage or surplus of cash at the end of the business day. Those banks that experience a surplus often lend money overnight to banks that experience a shortage so the banking system remains stable and liquid. This is an efficient method for banks around the world to practice 'Accessing short-term financing' from the central bank depositories. The interest rate of the OPR is influenced by the central bank, where it is a good predictor for the movement of short-term interest rates. In 2014, Malaysia's central bank raised its key interest rate for the first time in more than three years, to help temper inflation and rising consumer debt.

<span class="mw-page-title-main">United Overseas Bank</span> Singaporean regional bank

United Overseas Bank Limited, often known as UOB, is a Singaporean regional bank headquartered at Raffles Place, Singapore, with branches mostly found in Southeast Asia countries.

Equitable Bank is a Canadian bank that specializes in residential and commercial real estate lending, as well as personal banking through its digital arm, EQ Bank. Founded in 1970 as The Equitable Trust Company, it became a Schedule I Bank in 2013 and has since grown to become Canada's seventh largest bank by assets.

Debt-trap diplomacy is a term to describe an international financial relationship where a creditor country or institution extends debt to a borrowing nation partially, or solely, to increase the lender's political leverage. The creditor country is said to extend excessive credit to a debtor country with the intention of extracting economic or political concessions when the debtor country becomes unable to meet its repayment obligations. The conditions of the loans are often not publicized. The borrowed money commonly pays for contractors and materials sourced from the creditor country.

References

↑ "CIA – The World Factbook -- Rank Order – Commercial bank prime lending rate". Central Intelligence Agency. Archived from the original on 10 December 2008.
↑ "Base Rates, Base Lending/Financing Rates and Indicative Effective Lending Rates". Bank Negara Malaysia—Central Bank of Malaysia (List of rates for all Malaysian commercial banks, rate of largest bank, Malayan Banking Berhad, used for table). 6 August 2020. Archived from the original on 25 November 2019. Retrieved 25 November 2020.
↑ "Selected Interest Rates (Daily) - H.15". Federal Reserve. 16 December 2022. Retrieved 17 December 2022.
↑ "Bank of Canada Daily Digest". Bank of Canada—Banque du Canada. 17 December 2022. Archived from the original on 11 May 2011. Retrieved 17 December 2022.
↑ "Money Rates". The Wall Street Journal . 24 November 2020. Archived from the original on 25 November 2020. Retrieved 25 November 2020.

6. World prime interest compare 2024 updated

This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.

[1] "CIA – The World Factbook -- Rank Order – Commercial bank prime lending rate". Central Intelligence Agency. Archived from the original on 10 December 2008.

[2] "Base Rates, Base Lending/Financing Rates and Indicative Effective Lending Rates". Bank Negara Malaysia—Central Bank of Malaysia (List of rates for all Malaysian commercial banks, rate of largest bank, Malayan Banking Berhad, used for table). 6 August 2020. Archived from the original on 25 November 2019. Retrieved 25 November 2020.

[3] "Selected Interest Rates (Daily) - H.15". Federal Reserve. 16 December 2022. Retrieved 17 December 2022.

[4] "Bank of Canada Daily Digest". Bank of Canada—Banque du Canada. 17 December 2022. Archived from the original on 11 May 2011. Retrieved 17 December 2022.

[:0-5] "Money Rates". The Wall Street Journal . 24 November 2020. Archived from the original on 25 November 2020. Retrieved 25 November 2020.

[1]

[2]

[3]

[4]

[5]

v t e Lists of countries by financial rankings
Trade	Account balance % of GDP Exports by product merchandise net per capita service exports Imports Trade-to-GDP ratio Tariff rate Leading trade partners
Investment	FDI received past FDI abroad GFI
Funds	Forex reserves Gold reserves Sovereign wealth funds Pension funds Creditor nations Debtor nations
Budget and debt	Government budget PPP % of GDP per capita Credit rating External debt Public debt future Household debt Corporate debt
Income and taxes	Tax rates Inheritance tax Tax revenue Wage average median minimum
Bank rates	Central bank interest rate Commercial bank prime lending rate
Currency	Exchange rates to US$ Inflation rate
Other	Financial Development Index Average annual labor hours Corporate governance Development aid Ease of doing business Gross national savings Employment/Unemployment Financial assets Labour productivity Wealth
Lists of countries by GDP rankings List of international rankings Lists by country