Interest rate on bank loans fell 8.65% to 7.04% in South Africa in 2021, according to the National Central Bank.
Historically, interest rate on bank loans in South Africa reached an all time high of 22.3% in 1984 and an all time low of 5.50% in 1963. When compared to South Africa's main peers, interest rate on bank loans in Botswana amounted to 5.25%, 8.21% in Lesotho, 6.86% in Namibia and 7.25% in Swaziland in 2021.
South Africa has been ranked 56th within the group of 94 countries we follow in terms of interest rate on bank loans, 23 places above the position seen 10 years ago.
| Interest Rate on Bank Loans (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 | % | 16.9% | 15.8% | 15.8% | 20.7% | 19.3% | ||||||||||||||||
| Botswana | % | 7.95% | 7.30% | 6.88% | 6.50% | 6.40% | ||||||||||||||||
| Lesotho | % | 10.6% | 11.6% | 11.6% | 11.4% | 11.3% | ||||||||||||||||
| Mozambique | % | 14.9% | 21.2% | 27.9% | 23.0% | 19.0% | ||||||||||||||||
| Namibia | % | 9.32% | 9.84% | 10.0% | 10.1% | 9.88% | ||||||||||||||||
| South Africa | % | 9.42% | 10.5% | 10.4% | 10.1% | 10.1% | ||||||||||||||||
| Swaziland | % | 9.04% | 10.3% | 10.8% | 10.3% | 10.1% | ||||||||||||||||
| Zambia | % | 13.3% | 15.5% | 12.4% | 9.79% | 10.3% | ... | |||||||||||||||
| Zimbabwe | % | ... | ... | ... | 8.54% | 7.11% | 6.91% | 7.13% | 16.2% |
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