Interest rate spread in Singapore
Singapore: Interest rate spread was 5.1% in 2021. ▲ Rising
Interest rate spread in Singapore, 1978–2021
Source: International Financial Statistics database, International Monetary Fund (IMF). Measured in lending rate minus deposit rate, %.
Analysis
The most recent figure for interest rate spread in Singapore is 5.1%, measured in 2021.
Compared with earlier readings it is up 1.2% on the previous year and down 1.6% over ten years.
Over the whole period, interest rate spread in Singapore peaked at 5.2% in 2012 and was at its lowest, 2.3%, in 1979.
Singapore ranks 73rd of 141 countries on this measure, in the middle of the range.
The long-run direction has been consistently rising across the 44 years of available data.
Interest rate spread in Singapore, year by year
| Year | lending rate minus deposit rate, % | Change |
|---|---|---|
| 1978 | 2.4% | — |
| 1979 | 2.3% | -4.9% |
| 1980 | 2.4% | +2.2% |
| 1981 | 2.9% | +24.7% |
| 1982 | 3.0% | +2.7% |
| 1983 | 2.7% | -9.2% |
| 1984 | 2.7% | +0.3% |
| 1985 | 3.1% | +11.9% |
| 1986 | 2.9% | -5.3% |
| 1987 | 3.2% | +10.5% |
| 1988 | 3.2% | +0.4% |
| 1989 | 3.0% | -7.1% |
| 1990 | 2.7% | -10.3% |
| 1991 | 3.0% | +9.8% |
| 1992 | 3.1% | +4.4% |
| 1993 | 3.1% | +0.1% |
| 1994 | 2.9% | -6.8% |
| 1995 | 2.9% | -0.4% |
| 1996 | 2.9% | -0.5% |
| 1997 | 2.9% | +0.0% |
| 1998 | 2.8% | -0.5% |
| 1999 | 4.1% | +45.1% |
| 2000 | 4.1% | +0.1% |
| 2001 | 4.1% | +0.2% |
| 2002 | 4.5% | +8.4% |
| 2003 | 4.8% | +7.3% |
| 2004 | 4.9% | +1.9% |
| 2005 | 4.9% | -0.8% |
| 2006 | 4.7% | -2.4% |
| 2007 | 4.8% | +1.2% |
| 2008 | 5.0% | +3.3% |
| 2009 | 5.1% | +2.6% |
| 2010 | 5.2% | +1.7% |
| 2011 | 5.2% | +0.7% |
| 2012 | 5.2% | +0.6% |
| 2013 | 5.2% | -0.1% |
| 2014 | 5.2% | -0.7% |
| 2015 | 5.2% | -0.4% |
| 2016 | 5.2% | -0.5% |
| 2017 | 5.1% | -0.4% |
| 2018 | 5.2% | +0.7% |
| 2019 | 5.1% | -2.3% |
| 2020 | 5.1% | +0.3% |
| 2021 | 5.1% | +1.2% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 2.4% | 2.3% | 2.4% | 2 |
| 1980s | 2.9% | 2.4% | 3.2% | 10 |
| 1990s | 3.0% | 2.7% | 4.1% | 10 |
| 2000s | 4.7% | 4.1% | 5.1% | 10 |
| 2010s | 5.2% | 5.1% | 5.2% | 10 |
| 2020s | 5.1% | 5.1% | 5.1% | 2 |
Countries ranked near Singapore
- 70 Brunei Darussalam 5.2% compare
- 71 Egypt 5.1% compare
- 72 Macau, China 5.1% compare
- 74 Saint Lucia 5.1% compare
- 75 Antigua and Barbuda 5.1% compare
- 76 Uzbekistan 5.0% compare
More financial sector data for Singapore
- Net domestic credit (current LCU), per capita 123,291 current LCU per person (2020)
- Net domestic credit (current LCU), per unit of GDP 2 current LCU per US$ of GDP (2020)
- Net domestic credit (current LCU), annual growth rate 3.72 % change on previous year (2020)
- Gold reserves at 35 SDRs per ounce 217.81 million SDR (2025)
- Gold reserves at market value 19.85 billion SDR (2025)
- Reserves excluding gold, foreign exchange 289.89 billion SDR (2025)
- Reserves excluding gold 295.68 billion SDR (2025)
- Total reserves (gold at market value) 315.53 billion SDR (2025)
- Total reserves (gold at national valuation) 298.85 billion SDR (2025)
- Total reserves (gold at national valuation) (SDR), per capita 48,902 SDR per person (2025)
Frequently asked questions
- What is interest rate spread in Singapore?
- Interest rate spread in Singapore was 5.1% in 2021, according to International Financial Statistics database, International Monetary Fund (IMF).
- What is the highest interest rate spread recorded in Singapore?
- The highest recorded value was 5.2% in 2012.
- What is the lowest interest rate spread recorded in Singapore?
- The lowest recorded value was 2.3% in 1979.
- How does Singapore rank for interest rate spread?
- Singapore ranks 73rd out of 141 countries with data for 2021.
- Is interest rate spread rising or falling in Singapore?
- Over the last ten years it is down 1.6%. The long-run trend across the full record is rising.
- Where does this Singapore data come from?
- The figures come from International Financial Statistics database, International Monetary Fund (IMF), published as part of Interest rate spread (lending rate minus deposit rate, %). Statizoid updates them automatically from the source API.
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About this data
Interest rate spread is the interest rate charged by banks on loans to private sector customers minus the interest rate paid by commercial or similar banks for demand, time, or savings deposits. The terms and conditions attached to these rates differ by country, however, limiting their comparability.