South Korea: Lending interest rate
* indicates monthly or quarterly data series
| South Korea |
Interest rates on bank credit to the private sector |
|---|---|
| Latest value | 5.19 |
| Year | 2023 |
| Measure | percent |
| Data availability | 1996 - 2023 |
| Average | 6.14 |
| Min - Max | 2.80 - 15.28 |
| Source | The World Bank |
The latest value from 2023 is 5.19 percent, an increase from 4.29 percent in 2022. In comparison, the world average is 14.19 percent, based on data from 83 countries. Historically, the average for South Korea from 1996 to 2023 is 6.14 percent. The minimum value, 2.8 percent, was reached in 2020 while the maximum of 15.28 percent was recorded in 1998.
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* indicates monthly or quarterly data series
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The lending interest rate in South Korea 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.
Selected articles from our guide:
What factors determine the exchange rates
International lending and sovereign debt
All articles
| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Lending-deposit interest rate spread | 1.64 | 2020 | interest rate points |
| Bank cost to income ratio | 63.74 | 2021 | percent |
| Non-performing loans | 0.23 | 2021 | percent |
| Bank overhead cost | 1.39 | 2021 | percent |
| Net interest margin | 1.59 | 2021 | percent |
| Bank credit to deposits | 106.93 | 2021 | percent |
| Regulatory capital to risk-weighted assets | 14.56 | 2020 | percent |
| Return on assets | 0.67 | 2021 | percent |
| Return on equity | 9.77 | 2021 | percent |
| Banking system z-scores | 10.19 | 2021 | index points |
| Liquid assets to deposits | 20.36 | 2021 | percent |
| Banking system capital to assets | 7.40 | 2020 | percent |
| Non-interest income to total income | 32.29 | 2021 | percent |
| Lending interest rate | 5.19 | 2023 | percent |
| Real interest rate | 3.06 | 2023 | percent |
| Legal rights | 5.00 | 2019 | points |
| Credit information sharing | 8.00 | 2019 | points |