Interest rate spread in South Africa
South Africa: Interest rate spread was 3.3% in 2025. ▼ Falling
Interest rate spread in South Africa, 2001–2025
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 South Africa is 3.3%, measured in 2025.
That represents a change of down 11.8% on the previous year and up 0.1% over ten years.
Over the whole period, interest rate spread in South Africa peaked at 5.2% in 2003 and was at its lowest, 2.8%, in 2020.
South Africa ranks 98th of 141 countries on this measure, in the middle of the range.
The long-run direction has been consistently falling across the 25 years of available data.
Interest rate spread in South Africa, year by year
| Year | lending rate minus deposit rate, % | Change |
|---|---|---|
| 2001 | 4.8% | — |
| 2002 | 5.0% | +4.1% |
| 2003 | 5.2% | +4.5% |
| 2004 | 4.7% | -8.9% |
| 2005 | 4.6% | -3.3% |
| 2006 | 4.0% | -12.1% |
| 2007 | 4.0% | -0.3% |
| 2008 | 3.5% | -12.4% |
| 2009 | 3.2% | -9.7% |
| 2010 | 3.4% | +6.2% |
| 2011 | 3.3% | -1.2% |
| 2012 | 3.3% | -0.4% |
| 2013 | 3.3% | +1.0% |
| 2014 | 3.3% | -0.7% |
| 2015 | 3.3% | -1.8% |
| 2016 | 3.3% | +0.7% |
| 2017 | 3.1% | -4.8% |
| 2018 | 3.1% | -1.4% |
| 2019 | 3.1% | +1.0% |
| 2020 | 2.8% | -9.3% |
| 2021 | 3.2% | +14.1% |
| 2022 | 3.7% | +15.4% |
| 2023 | 4.8% | +30.2% |
| 2024 | 3.7% | -23.6% |
| 2025 | 3.3% | -11.8% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 4.3% | 3.2% | 5.2% | 9 |
| 2010s | 3.3% | 3.1% | 3.4% | 10 |
| 2020s | 3.6% | 2.8% | 4.8% | 6 |
Countries ranked near South Africa
More financial sector data for South Africa
- Reserve position in the IMF, US dollar, annual growth rate 5.08 % change on previous year (2025)
- Reserve position in the IMF, US dollar, per unit of GDP 0.0021 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 13.81 units per person (2025)
- Reserve position in the IMF, SDR, annual growth rate 0.0607 % change on previous year (2025)
- Reserve position in the IMF, SDR, per unit of GDP 0.0015 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 10.08 units per person (2025)
- Reserve tranche position, US dollar, annual growth rate 5.08 % change on previous year (2025)
- Reserve tranche position, US dollar, per unit of GDP 0.0021 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 13.81 units per person (2025)
- Reserve tranche position, SDR, annual growth rate 0.0607 % change on previous year (2025)
Frequently asked questions
- What is interest rate spread in South Africa?
- Interest rate spread in South Africa was 3.3% in 2025, according to International Financial Statistics database, International Monetary Fund (IMF).
- What is the highest interest rate spread recorded in South Africa?
- The highest recorded value was 5.2% in 2003.
- What is the lowest interest rate spread recorded in South Africa?
- The lowest recorded value was 2.8% in 2020.
- How does South Africa rank for interest rate spread?
- South Africa ranks 98th out of 141 countries with data for 2025.
- Is interest rate spread rising or falling in South Africa?
- Over the last ten years it is up 0.1%. The long-run trend across the full record is falling.
- Where does this South Africa 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 — 25 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.