Interest Rate on Bank Loans (Local Currency) rose 10.4% to 17.6% in Tanzania in 2017

Interest Rate on Bank Loans (Local Currency) (%), 2017
Banking | Tanzania | May 17, 2019
$2.99
Excel Sheet

Interest rate on bank loans rose 10.4% to 17.6% in Tanzania in 2017, according to the National Central Bank.

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 13.7%, 27.9% in Mozambique, 21.3% in Uganda and 12.4% in Zambia in 2017.

Tanzania has been ranked 17th within the group of 110 countries we follow in terms of interest rate on bank loans, 20 places above the position seen 10 years ago.

Interest Rate on Bank Loans (Local Currency) Unit 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Angola % 15.8% 16.4% 16.9% 15.8% 15.8%
Dem. Republic of the Congo % ... ... ... ... ... ... ... 19.4% 18.7% 19.4% 19.0% 20.6%
Ethiopia % ... ... ... ... ... ... ... ... ... ... ...
Kenya % 17.3% 16.5% 16.1% 16.6% 13.7%
Malawi % 46.0% 44.3% 44.4% 44.1% 38.6% ...
Mozambique % 15.3% 14.8% 14.9% 21.2% 27.9%
Rwanda % 17.3% 17.3% 17.3% 17.3% 17.2%
Somalia % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...
South Africa % 8.50% 9.13% 9.42% 10.5% 10.4%
South Sudan % ... ... ... ... ... ... ... ... ... ... ... ... ... 13.6% 18.7% 13.8% 10.4% 10.1%
Tanzania % 15.9% 16.3% 16.1% 16.0% 17.8%
Uganda % 23.3% 21.6% 22.6% 23.9% 21.3% ...
Zambia % 9.52% 11.6% 13.3% 15.5% 12.4%
Zimbabwe % ... ... ... 9.74% 9.47% 8.54% 7.11% 6.91%