Real interest rate - Country rankings
* indicates monthly or quarterly data series
Real interest rate: Bank lending rate minus inflation, 2023:
The average for 2023 based on 87 countries was 4.42 percent. The highest value was in Madagascar: 41.3 percent and the lowest value was in Zimbabwe: -73.54 percent. The indicator is available from 1961 to 2023. Below is a chart for all countries where data are available.Measure: percent; Source: The International Monetary Fund
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* indicates monthly or quarterly data series
Countries | Real interest rate, 2023 | Global rank | Available data |
---|---|---|---|
Madagascar | 41.3 | 1 | 1989 - 2023 |
Brazil | 37.21 | 2 | 1997 - 2023 |
Azerbaijan | 25.52 | 3 | 1998 - 2023 |
Guyana | 24.38 | 4 | 1981 - 2023 |
Brunei | 21.12 | 5 | 1998 - 2023 |
Tr.&Tobago | 19.71 | 6 | 1979 - 2023 |
Qatar | 19.2 | 7 | 1979 - 2023 |
Norway | 17.82 | 8 | 2013 - 2023 |
Mozambique | 17.47 | 9 | 1997 - 2023 |
Colombia | 13.82 | 10 | 1986 - 2023 |
Kuwait | 13.26 | 11 | 1979 - 2023 |
Papua N.G. | 12.41 | 12 | 1983 - 2023 |
Lesotho | 11.49 | 13 | 1980 - 2023 |
Seychelles | 10.56 | 14 | 1989 - 2023 |
Georgia | 10.26 | 15 | 2003 - 2023 |
Maldives | 9.62 | 16 | 1995 - 2023 |
Armenia | 9.46 | 17 | 1995 - 2023 |
Bolivia | 9.2 | 18 | 1987 - 2023 |
Costa Rica | 9.19 | 19 | 1982 - 2023 |
Swaziland | 9.07 | 20 | 1975 - 2023 |
Malawi | 8.75 | 21 | 1981 - 2023 |
Uzbekistan | 8.43 | 22 | 2013 - 2023 |
Uruguay | 8.18 | 23 | 1976 - 2023 |
Tonga | 7.76 | 24 | 2012 - 2023 |
Honduras | 7.74 | 25 | 1982 - 2023 |
Bhutan | 7.57 | 26 | 1982 - 2023 |
Domin. Rep. | 7.53 | 27 | 1991 - 2023 |
Malaysia | 7.33 | 28 | 1969 - 2023 |
Indonesia | 7.28 | 29 | 1986 - 2023 |
Vietnam | 7.28 | 30 | 1993 - 2023 |
Algeria | 7.08 | 31 | 1995 - 2023 |
Kenya | 7.05 | 32 | 1971 - 2023 |
Jordan | 7.04 | 33 | 1997 - 2023 |
Mexico | 6.83 | 34 | 1993 - 2023 |
South Africa | 6.39 | 35 | 1961 - 2023 |
Iceland | 5.52 | 36 | 1982 - 2023 |
Rwanda | 5.38 | 37 | 1996 - 2023 |
Kyrgyzstan | 5.02 | 38 | 1996 - 2023 |
Guatemala | 4.99 | 39 | 1997 - 2023 |
China | 4.96 | 40 | 1980 - 2023 |
Saint Lucia | 4.84 | 41 | 1981 - 2023 |
Botswana | 4.52 | 42 | 1980 - 2023 |
Gambia | 4.45 | 43 | 1985 - 2023 |
Russia | 4.25 | 44 | 1997 - 2023 |
Namibia | 4.24 | 45 | 1991 - 2023 |
Cape Verde | 3.6 | 46 | 2006 - 2023 |
Moldova | 3.33 | 47 | 1995 - 2023 |
South Korea | 3.06 | 48 | 1996 - 2023 |
Ukraine | 3.06 | 49 | 1992 - 2023 |
Thailand | 3.03 | 50 | 1976 - 2023 |
St. Vincent & ... | 3.01 | 51 | 1980 - 2023 |
Grenada | 2.99 | 52 | 1982 - 2023 |
Dominica | 2.98 | 53 | 1982 - 2023 |
Hong Kong | 2.91 | 54 | 1990 - 2023 |
Belarus | 2.42 | 55 | 1992 - 2023 |
Switzerland | 1.82 | 56 | 2008 - 2023 |
Ant.& Barb. | 1.81 | 57 | 1982 - 2023 |
Belize | 1.81 | 58 | 1982 - 2023 |
Macao | 1.31 | 59 | 1986 - 2023 |
Nigeria | 1.23 | 60 | 1970 - 2023 |
Mauritius | 0.91 | 61 | 1980 - 2023 |
Fiji | 0.84 | 62 | 1992 - 2023 |
Bangladesh | 0.63 | 63 | 1976 - 2023 |
Hungary | 0.48 | 64 | 1988 - 2023 |
Albania | 0.27 | 65 | 1986 - 2023 |
Jamaica | -0.03 | 66 | 1976 - 2023 |
Burundi | -0.13 | 67 | 1978 - 2023 |
Samoa | -0.36 | 68 | 2001 - 2023 |
Angola | -0.59 | 69 | 1995 - 2023 |
Aruba | -0.85 | 70 | 1987 - 2023 |
Italy | -0.88 | 71 | 1989 - 2023 |
Nicaragua | -1.07 | 72 | 1988 - 2023 |
Bahamas | -1.97 | 73 | 1976 - 2023 |
Vanuatu | -2.13 | 74 | 2013 - 2023 |
North Macedonia | -2.16 | 75 | 2005 - 2023 |
Bosnia & Herz. | -2.48 | 76 | 2002 - 2023 |
Romania | -3.06 | 77 | 1993 - 2023 |
S.T.&Principe | -3.18 | 78 | 2001 - 2023 |
Czechia | -3.21 | 79 | 1993 - 2023 |
Bulgaria | -3.28 | 80 | 1992 - 2023 |
Montenegro | -3.8 | 81 | 2005 - 2023 |
Egypt | -5.66 | 82 | 1976 - 2023 |
Sierra Leone | -7.41 | 83 | 1965 - 2023 |
Haiti | -13.15 | 84 | 1994 - 2023 |
Suriname | -13.68 | 85 | 1990 - 2023 |
Argentina | -16.77 | 86 | 2010 - 2023 |
Zimbabwe | -73.54 | 87 | 2012 - 2023 |
Definition: Real interest rate is the lending interest rate adjusted for inflation as measured by the GDP deflator. The terms and conditions attached to lending rates differ by country, however, limiting their comparability.
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41.30
37.21
25.52
24.38
21.12
19.71
19.20
17.82
17.47
13.82
13.26
12.41
11.49
10.56
10.26
9.62
9.46
9.20
9.19
9.07
8.75
8.43
8.18
7.76
7.74
7.57
7.53
7.33
7.28
7.28
7.08
7.05
7.04
6.83
6.39
5.52
5.38
5.02
4.99
4.96
4.84
4.52
4.45
4.25
4.24
3.60
3.33
3.06
3.06
3.03
3.01
2.99
2.98
2.91
2.42
1.82
1.81
1.81
1.31
1.23
0.91
0.84
0.63
0.48
0.27
-0.03
-0.13
-0.36
-0.59
-0.85
-0.88
-1.07
-1.97
-2.13
-2.16
-2.48
-3.06
-3.18
-3.21
-3.28
-3.80
-5.66
-7.41
-13.15
-13.68
-16.77
-73.54
-73.54
-44.8
-16.1
12.6
41.3
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