Interest rate on bank deposits fell 21.8% to 3.82% in South Africa in 2021, according to the National Central Bank.
Historically, interest rate on bank deposits in South Africa reached an all time high of 18.9% in 1990 and an all time low of 3.82% in 2021. When compared to South Africa's main peers, interest rate on bank deposits in Botswana amounted to 1.43%, 1.66% in Lesotho, 2.94% in Namibia and 1.78% in Swaziland in 2021.
South Africa has been ranked 33rd within the group of 96 countries we follow in terms of interest rate on bank deposits, 22 places above the position seen 10 years ago.
| Interest Rate on Bank Deposits (Local Currency) | Unit | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 |
| Angola | % | 3.31% | 5.54% | 6.34% | 6.88% | 6.42% | ||||||||||||||||
| Botswana | % | 2.50% | 2.12% | 1.44% | 1.52% | 1.59% | ||||||||||||||||
| Lesotho | % | 2.33% | 1.11% | 1.22% | 1.39% | 1.65% | ||||||||||||||||
| Mozambique | % | 8.53% | 10.8% | 17.1% | 13.6% | 9.06% | ||||||||||||||||
| Namibia | % | 4.71% | 5.65% | 5.89% | 5.87% | 5.71% | ||||||||||||||||
| South Africa | % | 6.15% | 7.17% | 7.25% | 7.00% | 7.01% | ||||||||||||||||
| Swaziland | % | 2.27% | 2.94% | 3.20% | 3.76% | 3.69% | ||||||||||||||||
| Zambia | % | 8.99% | 10.8% | 8.89% | 6.80% | 8.29% | ... | |||||||||||||||
| Zimbabwe | % | ... | ... | ... | ... | ... | ... | 6.70% | 4.09% | 3.27% | 2.53% | 2.98% |
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