Interest Rate on Bank Loans rose to 17.6% in Tanzania in 2017

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

Interest rate on bank loans reached 31.0 % in 1992 in Tanzania, according to the National Central Bank. This is 75.9 % more than in the previous year.

Historically, interest rate on bank loans in Tanzania reached an all time high of 42.8 % in 1995 and an all time low of 6.54 % in 1978. When compared to Tanzania's main peers, interest rate on bank loans in Kenya amounted to 21.1 %, 39.1 % in Uganda and 54.6 % in Zambia in 1992.

Tanzania has been ranked 20th within the group of 118 countries we follow in terms of interest rate on bank loans, 39 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%
Dem. Republic of the Congo % 43.8% 28.4% 19.4% 18.7% 19.4%
Ethiopia % ... ... ... ... ... ... ... ... ...
Kenya % 15.0% 19.7% 17.3% 16.5% 16.1%
Malawi % 23.8% 32.3% 46.0% 44.3% 44.4%
Mozambique % 19.1% 16.8% 15.3% 14.8% 14.9%
Rwanda % 16.7% 16.7% 17.3% 17.3% 17.3%
Somalia % ... ... ... ... ... ... ... ... ...
South Africa % 9.00% 8.75% 8.50% 9.13% 9.42%
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%
Zimbabwe % ... ... ... 11.6% 9.74% 9.47% 8.54%