Interest rate on bank loans reached 6.00 % in 2014 in Libya, according to the National Central Bank. This is the same as in the previous year.
Historically, interest rate on bank loans in Libya reached an all time high of 7.00 % in 1964 and an all time low of 6.00 % in 2007. When compared to Libya's main peers, interest rate on bank loans in Algeria amounted to 8.00 % and 11.7 % in Egypt in 2014.
Libya has been ranked 98th within the group of 140 countries we follow in terms of interest rate on bank loans, 17 places above the position seen 10 years ago.
The lending interest rate is the rate charged by banks on loans to prime customers.