Gambia: Interest rates on bank credit to the private sector, 1985 - 2020:
For that indicator, we provide data for the Gambia from 1985 to 2020. The average value for the Gambia during that period was 27.06 percent with a minimum of 14.48 percent in 1985 and a maximum of 36.5 percent in 2004.
The latest value from 2020 is 28 percent. For comparison, the world average in 2020 based on 82
countries is 10.31 percent.
See the global rankings for that indicator or
use the country comparator to compare trends over time.
The lending interest rate in the Gambia shown below is the interest rate on credits from banks to prime borrowers, i.e. to the lowest risk borrowers in the private sector. That includes firms and households.
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.