Jamaica: Interest rates on bank credit to the private sector, 1976 - 2020:
For that indicator, we provide data for Jamaica from 1976 to 2020. The average value for Jamaica during that period was 22.37 percent with a minimum of 12.06 percent in 2020 and a maximum of 49.46 percent in 1994.
The latest value from 2020 is 12.06 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 Jamaica 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.