Bank Lending Rate in South Korea increased to 2.71 percent in November from 2.66 percent in October of 2020. source: The Bank of Korea

Bank Lending Rate in South Korea averaged 6.39 percent from 1996 until 2020, 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 January of 2021.

Bank Lending Rate in South Korea is expected to be 2.66 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 3.95 in 12 months time. In the long-term, the South Korea Bank Average Lending Rate is projected to trend around 2.66 percent in 2022 and 3.41 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
2.71 2.66 17.01 2.63 1996 - 2020 percent Monthly

South Korea Consumer Last Previous Highest Lowest Unit
Consumer Confidence 89.80 97.90 121.50 67.70 points [+]
Retail Sales MoM -1.00 -0.90 5.50 -12.50 percent [+]
Retail Sales YoY -1.50 -0.10 20.20 -21.50 percent [+]
Consumer Spending 212925.80 213186.30 224585.80 7263.90 KRW Billion [+]
Disposable Personal Income 1925872.90 1890779.40 1925872.90 2866.70 KRW Billion [+]
Personal Savings 34.50 36.00 42.70 13.40 percent [+]
Consumer Credit 1682119.60 1637276.40 1682119.60 142746.90 KRW Billion [+]
Bank Lending Rate 2.71 2.66 17.01 2.63 percent [+]
Economic Optimism Index 83.00 89.00 117.00 55.00 Net Balance [+]
Gasoline Prices 1.28 1.20 1.84 0.54 USD/Liter [+]
Households Debt To GDP 98.60 95.90 98.60 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.