Philippines: Interest rates on bank credit to the private sector, 1976 - 2019:
For that indicator, we provide data for the Philippines from 1976 to 2019. The average value for the Philippines during that period was 12.95 percent with a minimum of 5.53 percent in 2014 and a maximum of 28.61 percent in 1985.
The latest value from 2019 is 7.1 percent. For comparison, the world average in 2019 based on 88
countries is 11.07 percent.
See the global rankings for that indicator or
use the country comparator to compare trends over time.
The lending interest rate in the Philippines 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.