Interest rate spread (lending rate minus deposit rate, %) in Singapore
Singapore: Interest rate spread (lending rate minus deposit rate, %) 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 (lending rate minus deposit rate, %) 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% |
Singapore compared with similar countries
- Singapore's 5.1% is above the median for high income countries, which is 3.1%, 1.7× the median. (38 countries reporting)
- Singapore's 5.1% is above the median for East Asia & Pacific, which is 5.0%, 1.0× the median. (25 countries reporting)
Biggest year-on-year movements
Years where Interest rate spread (lending rate minus deposit rate, %) in Singapore changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 1999 | +45.1% | 2.8% | 4.1% |
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 5.2% compare
- 71 Egypt 5.1% compare
- 72 Macao 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
- Reserve position in the IMF, US dollar, annual growth rate 8.93 % change on previous year (2025)
- Reserve position in the IMF, US dollar, per unit of GDP 0.0023 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 230.78 units per person (2025)
- Reserve position in the IMF, SDR, annual growth rate 3.73 % change on previous year (2025)
- Reserve position in the IMF, SDR, per unit of GDP 0.0017 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 168.51 units per person (2025)
- Reserve tranche position, US dollar, annual growth rate 8.93 % change on previous year (2025)
- Reserve tranche position, US dollar, per unit of GDP 0.0023 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 230.78 units per person (2025)
- Reserve tranche position, SDR, annual growth rate 3.73 % change on previous year (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.
Download this data
CSV · JSON — 44 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
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.