South Africa - Lending interest rate (%)

The latest value for Lending interest rate (%) in South Africa was 7.04 as of 2021. Over the past 61 years, the value for this indicator has fluctuated between 22.33 in 1984 and 5.50 in 1963.

Definition: Lending rate is the bank rate that usually meets the short- and medium-term financing needs of the private sector. This rate is normally differentiated according to creditworthiness of borrowers and objectives of financing. The terms and conditions attached to these rates differ by country, however, limiting their comparability.

Source: International Monetary Fund, International Financial Statistics and data files.

See also:

Year Value
1960 6.21
1961 6.83
1962 6.21
1963 5.50
1964 5.79
1965 6.92
1966 7.50
1967 8.25
1968 8.33
1969 8.00
1970 8.17
1971 8.83
1972 8.79
1973 8.00
1974 10.17
1975 11.79
1976 12.25
1977 12.50
1978 12.13
1979 10.00
1980 9.50
1981 14.00
1982 19.33
1983 16.67
1984 22.33
1985 21.50
1986 14.33
1987 12.50
1988 15.33
1989 19.83
1990 21.00
1991 20.31
1992 18.91
1993 16.16
1994 15.58
1995 17.90
1996 19.52
1997 20.00
1998 21.79
1999 18.00
2000 14.50
2001 13.77
2002 15.75
2003 14.96
2004 11.29
2005 10.63
2006 11.17
2007 13.17
2008 15.13
2009 11.71
2010 9.83
2011 9.00
2012 8.75
2013 8.50
2014 9.13
2015 9.42
2016 10.46
2017 10.38
2018 10.08
2019 10.13
2020 7.71
2021 7.04

Development Relevance: Both banking and financial systems enhance growth, the main factor in poverty reduction. At low levels of economic development commercial banks tend to dominate the financial system, while at higher levels domestic stock markets tend to become more active and efficient. The size and mobility of international capital flows make it increasingly important to monitor the strength of financial systems. Robust financial systems can increase economic activity and welfare, but instability can disrupt financial activity and impose widespread costs on the economy.

Limitations and Exceptions: Countries use a variety of reporting formats, sample designs, interest compounding formulas, averaging methods, and data presentations for indices and other data series on interest rates. The IMF's Monetary and Financial Statistics Manual does not provide guidelines beyond the general recommendation that such data should reflect market prices and effective (rather than nominal) interest rates and should be representative of the financial assets and markets to be covered. For more information, please see http://www.imf.org/external/pubs/ft/mfs/manual/index.htm.

Statistical Concept and Methodology: Many interest rates coexist in an economy, reflecting competitive conditions, the terms governing loans and deposits, and differences in the position and status of creditors and debtors. In some economies interest rates are set by regulation or administrative fiat. In economies with imperfect markets, or where reported nominal rates are not indicative of effective rates, it may be difficult to obtain data on interest rates that reflect actual market transactions. Deposit and lending rates are collected by the International Monetary Fund (IMF) as representative interest rates offered by banks to resident customers. The terms and conditions attached to these rates differ by country, however, limiting their comparability. In 2009 the IMF began publishing a new presentation of monetary statistics for countries that report data in accordance with its Monetary Financial Statistical Manual 2000. The presentation for countries that report data in accordance with its International Financial Statistics (IFS) remains the same.

Periodicity: Annual

Classification

Topic: Financial Sector Indicators

Sub-Topic: Interest rates