* indicates monthly or quarterly data series

Real interest rate: Bank lending rate minus inflation, 2022:

The average for 2022 based on 85 countries was -0.12 percent. The highest value was in Madagascar: 40.58 percent and the lowest value was in Suriname: -23.16 percent. The indicator is available from 1961 to 2022. Below is a chart for all countries where data are available.

Measure: percent; Source: The International Monetary Fund
Select indicator
* indicates monthly or quarterly data series


Countries Real interest rate, 2022 Global rank Available data
Madagascar 40.58 1 1989 - 2022
Brazil 28.74 2 1997 - 2022
Seychelles 13.99 3 1989 - 2022
Mozambique 13.37 4 1997 - 2022
Maldives 8.69 5 1996 - 2022
Peru 7.87 6 1985 - 2022
Belize 7.36 7 1982 - 2022
Uzbekistan 6.94 8 2013 - 2022
Bahamas 6.57 9 1976 - 2022
Uruguay 6.18 10 1976 - 2022
Guatemala 5.37 11 1997 - 2022
Honduras 5 12 1982 - 2022
Macao 4.96 13 1986 - 2022
Georgia 4.65 14 2003 - 2022
Jordan 4.64 15 1997 - 2022
Panama 4.35 16 1996 - 2022
Bolivia 4.21 17 1987 - 2022
Vietnam 4 18 1993 - 2022
Vanuatu 3.69 19 2013 - 2022
St. Vincent & ... 3.64 20 1980 - 2022
South Africa 3.56 21 1961 - 2022
Armenia 3.38 22 1995 - 2022
Ant.& Barb. 3.34 23 1982 - 2022
Angola 3.28 24 1995 - 2022
Hong Kong 3.24 25 1990 - 2022
South Korea 3.04 26 1996 - 2022
Malawi 2.84 27 1981 - 2022
Comoros 2.73 28 1999 - 2022
Burundi 2.61 29 1978 - 2022
Dominica 2.39 30 1982 - 2022
Kyrgyzstan 2.19 31 1996 - 2022
Barbados 2.11 32 1981 - 2022
China 2.06 33 1980 - 2022
Bangladesh 1.97 34 1976 - 2022
Samoa 1.79 35 2001 - 2022
Costa Rica 1.51 36 1982 - 2022
Colombia 1.42 37 1986 - 2022
Cape Verde 1.32 38 2006 - 2022
Namibia 1.3 39 1991 - 2022
Mexico 1.07 40 1993 - 2022
Domin. Rep. 1.03 41 1991 - 2022
Nigeria 0.92 42 1970 - 2022
Saint Lucia 0.68 43 1981 - 2022
Grenada 0.64 44 1982 - 2022
Rwanda 0.3 45 1996 - 2022
Nicaragua 0.29 46 1988 - 2022
India 0.23 47 1978 - 2022
Egypt 0.14 48 1976 - 2022
Fiji 0.09 49 1992 - 2022
Swaziland -0.35 50 1975 - 2022
Tonga -0.6 51 2012 - 2022
Switzerland -0.61 52 2008 - 2022
Belarus -0.72 53 1992 - 2022
Italy -0.72 54 1989 - 2022
Indonesia -0.96 55 1986 - 2022
Iceland -1.33 56 1996 - 2022
Israel -1.37 57 2013 - 2022
Thailand -1.5 58 1976 - 2022
Mauritius -1.89 59 1980 - 2022
Jamaica -2.19 60 1976 - 2022
Malaysia -2.25 61 1969 - 2022
Albania -2.89 62 1986 - 2022
North Macedonia -3.12 63 2005 - 2022
Papua N.G. -3.27 64 1983 - 2022
Tr.&Tobago -3.36 65 1979 - 2022
Russia -3.75 66 1997 - 2022
Czechia -4 67 1993 - 2022
Hungary -4.01 68 1992 - 2022
Montenegro -4.2 69 2005 - 2022
Romania -5.07 70 1993 - 2022
Moldova -6.61 71 1996 - 2022
Botswana -7.35 72 1980 - 2022
Bosnia & Herz. -7.91 73 2002 - 2022
Lesotho -7.94 74 1980 - 2022
Algeria -9.78 75 1995 - 2022
Bulgaria -9.87 76 1992 - 2022
Argentina -10.19 77 2010 - 2022
Ukraine -11.7 78 1992 - 2022
Brunei -15.08 79 1998 - 2022
Azerbaijan -16.51 80 1998 - 2022
Qatar -17 81 2004 - 2022
Kuwait -17.93 82 1993 - 2022
Zimbabwe -18.32 83 2012 - 2022
Norway -19.36 84 2013 - 2022
Suriname -23.16 85 1990 - 2022


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.
40.58
28.74
13.99
13.37
8.69
7.87
7.36
6.94
6.57
6.18
5.37
5.00
4.96
4.65
4.64
4.35
4.21
4.00
3.69
3.64
3.56
3.38
3.34
3.28
3.24
3.04
2.84
2.73
2.61
2.39
2.19
2.11
2.06
1.97
1.79
1.51
1.42
1.32
1.30
1.07
1.03
0.92
0.68
0.64
0.30
0.29
0.23
0.14
0.09
-0.35
-0.60
-0.61
-0.72
-0.72
-0.96
-1.33
-1.37
-1.50
-1.89
-2.19
-2.25
-2.89
-3.12
-3.27
-3.36
-3.75
-4.00
-4.01
-4.20
-5.07
-6.61
-7.35
-7.91
-7.94
-9.78
-9.87
-10.19
-11.70
-15.08
-16.51
-17.00
-17.93
-18.32
-19.36
-23.16
-23.16
-7.2
8.7
24.6
40.58
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