Interest rate on bank loans reached 5.25 % in 2020 in Singapore, according to the National Central Bank. This is the same as in the previous year.
Historically, interest rate on bank loans in Singapore reached an all time high of 13.6 % in 1981 and an all time low of 5.25 % in 2019.
Singapore has been ranked 3rd within the group of 3 countries we follow in terms of interest rate on bank loans, 113 places above the position seen 10 years ago.
The lending interest rate is the rate charged by banks on loans to prime customers.