Interest rate on bank deposits fell 29.4% to 2.94% in Namibia in 2021, according to the National Central Bank.
Historically, interest rate on bank deposits in Namibia reached an all time high of 12.9% in 1998 and an all time low of 2.94% in 2021. When compared to Namibia's main peers, interest rate on bank deposits in Angola amounted to 7.05%, 1.43% in Botswana, 3.82% in South Africa and 8.06% in Zimbabwe in 2021.
Namibia has been ranked 45th 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% | ||||||||||||||||
| Dem. Republic of the Congo | % | ... | ... | ... | ... | ... | ... | 3.66% | 3.38% | 4.19% | 4.87% | 5.48% | ||||||||||
| 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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