Interest Rate on Bank Deposits rose to 11.2% in Tanzania in 2017

Interest Rate on Bank Deposits (%)
Banking | Tanzania | May 17, 2019
$2.99
Excel Sheet

Interest rate on bank deposits reached 17.0 % in 1992 in Tanzania, according to the National Central Bank. This is 4.38 % less than in the previous year.

Historically, interest rate on bank deposits in Tanzania reached an all time high of 24.6 % in 1995 and an all time low of 3.05 % in 2003. When compared to Tanzania's main peers, interest rate on bank deposits in Uganda amounted to 35.8 % and 48.5 % in Zambia in 1992.

Tanzania has been ranked 33rd within the group of 122 countries we follow in terms of interest rate on bank deposits, 59 places above the position seen 10 years ago.

The deposit interest rate is the rate paid by commercial or similar banks for deposits.

Interest Rate on Bank Deposits (Local Currency) Unit 2009 2010 2011 2012 2013 2014 2015 2016 2017
Angola % 6.31% 3.60% 3.15% 3.53% 3.31%
Dem. Republic of the Congo % 13.4% 7.72% 4.71% 4.01% 3.66%
Ethiopia % ... ... ... ... ... ... ... ... ...
Kenya % 5.63% 11.6% 8.64% 8.37% 9.19%
Malawi % 4.11% 11.1% 18.4% 13.2% 11.6% ...
Mozambique % 13.0% 11.4% 8.80% 8.58% 8.53%
Rwanda % 7.75% 8.85% 9.92% 8.24% 8.24%
Somalia % ... ... ... ... ... ... ... ... ...
South Africa % 5.67% 5.44% 5.15% 5.80% 6.15%
South Sudan % ... ... ... 1.98% 1.36% 1.39% 1.20%
Tanzania % 6.78% 9.55% 9.97% 9.86% 9.90%
Uganda % 13.3% 16.8% 12.1% 10.8% 12.8%
Zambia % 7.02% 7.00% 6.49% 7.88% 8.99%
Zimbabwe % ... ... ... ... ... ... 6.70%