Interest Rate on Bank Loans fell to 17.2% in Rwanda in 2017

Interest Rate on Bank Loans (%)
Banking | Rwanda | May 17, 2019
$2.99
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Interest rate on bank loans reached 17.3 % in 2016 in Rwanda, according to the National Central Bank. This is 0.731 % more than in the previous year.

Historically, interest rate on bank loans in Rwanda reached an all time high of 19.0 % in 1991 and an all time low of 12.0 % in 1988. When compared to Rwanda's main peers, interest rate on bank loans in Burundi amounted to 14.2 %, 16.0 % in Tanzania, 23.9 % in Uganda and 19.0 % in Dem. Republic of the Congo in 2016.

Rwanda has been ranked 19th within the group of 134 countries we follow in terms of interest rate on bank loans, 19 places above the position seen 10 years ago.

The lending interest rate is the rate charged by banks on loans to prime customers.

Interest Rate on Bank Loans (Local Currency) Unit 2009 2010 2011 2012 2013 2014 2015 2016 2017
Angola % 18.8% 16.7% 15.8% 16.4% 16.9%
Burundi % 13.2% 14.3% 15.1% 15.7% 15.3%
Central African Republic % ... ... ... ... ... ... ... ... ...
Congo % ... ... ... ... ... ... ... ... ...
Dem. Republic of the Congo % 43.8% 28.4% 19.4% 18.7% 19.4%
Kenya % 15.0% 19.7% 17.3% 16.5% 16.1%
Mozambique % 19.1% 16.8% 15.3% 14.8% 14.9%
Rwanda % 16.7% 16.7% 17.3% 17.3% 17.3%
South Sudan % ... ... ... 12.0% 13.6% 18.7% 13.8%
Tanzania % 15.0% 15.6% 15.9% 16.3% 16.1%
Uganda % 21.8% 26.2% 23.3% 21.6% 22.6%
Zambia % 18.8% 12.2% 9.52% 11.6% 13.3%