The Gambia - Deposit interest rate (%)

The value for Deposit interest rate (%) in The Gambia was 4.83 as of 2021. As the graph below shows, over the past 37 years this indicator reached a maximum value of 22.00 in 2004 and a minimum value of 4.83 in 2021.

Definition: Deposit interest rate is the rate paid by commercial or similar banks for demand, time, or savings deposits. 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
1984 10.50
1985 9.75
1986 16.13
1987 15.75
1988 15.00
1989 12.92
1990 11.33
1991 12.71
1992 13.83
1993 13.00
1994 12.58
1995 12.50
1996 12.50
1997 12.50
1998 12.50
1999 12.50
2000 12.50
2001 12.50
2002 12.71
2003 16.42
2004 22.00
2005 17.33
2006 12.67
2007 12.89
2008 12.87
2009 15.50
2010 14.63
2011 11.75
2012 11.50
2013 13.44
2014 16.51
2017 15.78
2018 9.00
2019 8.11
2020 6.84
2021 4.83

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