Bank Lending Rate in South Korea increased to 2.74 percent in February from 2.72 percent in January of 2021. source: The Bank of Korea

Bank Lending Rate in South Korea averaged 6.36 percent from 1996 until 2021, reaching an all time high of 17.01 percent in January of 1998 and a record low of 2.63 percent in August of 2020. This page provides - South Korea Bank Average Lending Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. South Korea Bank Average Lending Rate - values, historical data and charts - was last updated on April of 2021.

Bank Lending Rate in South Korea is expected to be 2.72 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Bank Lending Rate in South Korea to stand at 2.72 in 12 months time. In the long-term, the South Korea Bank Average Lending Rate is projected to trend around 3.47 percent in 2022 and 3.72 percent in 2023, according to our econometric models.

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South Korea Bank Average Lending Rate

Actual Previous Highest Lowest Dates Unit Frequency
2.74 2.72 17.01 2.63 1996 - 2021 percent Monthly

South Korea Consumer Last Previous Highest Lowest Unit
Consumer Confidence 100.50 97.40 121.50 67.70 points [+]
Retail Sales MoM -0.80 1.60 6.00 -12.50 percent [+]
Retail Sales YoY 8.40 0.00 20.20 -21.50 percent [+]
Consumer Spending 209654.40 212925.80 224585.80 7263.90 KRW Billion [+]
Disposable Personal Income 1938678.90 1925872.90 1938678.90 2866.70 KRW Billion [+]
Personal Savings 35.70 34.50 42.70 13.40 percent [+]
Consumer Credit 1726091.30 1681841.60 1726091.30 142746.90 KRW Billion [+]
Bank Lending Rate 2.74 2.72 17.01 2.63 percent [+]
Economic Optimism Index 101.00 97.00 117.00 55.00 Net Balance [+]
Gasoline Prices 1.35 1.31 1.84 0.54 USD/Liter [+]
Households Debt To GDP 101.10 98.60 101.10 1.40 percent of GDP [+]
Consumer Confidence Current Conditions 96.00 93.00 117.00 25.00 [+]
Consumer Confidence Economic Expectations 109.00 112.00 122.00 49.00 [+]
Consumer Confidence Financial Expectations 103.00 103.00 107.00 82.00 [+]
Consumer Confidence Major Purchases Expectations 97.00 96.00 97.00 73.00 [+]
Consumer Confidence Price Trends 139.00 139.00 163.00 129.00 [+]
Consumer Confidence Savings Expectations 97.00 97.00 102.00 82.00 [+]
Consumer Confidence Unemployment Expectations 110.00 121.00 121.00 41.00 [+]


South Korea Bank Average Lending Rate
In South Korea, the bank lending rate is the average rate of interest charged on loans by commercial banks to private individuals and companies.