Interest rate on bank loans reached 4.76 % in 2017 in New Zealand, according to the National Central Bank. This is 5.20 % less than in the previous year.
Historically, interest rate on bank loans in New Zealand reached an all time high of 8.99 % in 1998 and an all time low of 4.76 % in 2017. When compared to New Zealand's main peers, interest rate on bank loans in Australia amounted to 5.25 %, 11.1 % in Indonesia, 4.61 % in Malaysia and 5.63 % in Philippines in 2017.
New Zealand has been ranked 100th within the group of 117 countries we follow in terms of interest rate on bank loans, 2 places behind the position seen 10 years ago.
The lending interest rate is the rate charged by banks on loans to prime customers.