Bank Lending Rate in South Korea increased to 2.87 percent in August from 2.78 percent in July of 2021. source: The Bank of Korea

Bank Lending Rate in South Korea averaged 6.29 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 October of 2021.

Bank Lending Rate in South Korea is expected to be 3.12 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the South Korea Bank Average Lending Rate is projected to trend around 3.37 percent in 2022 and 3.62 percent in 2023, according to our econometric models.

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South Korea Bank Average Lending Rate

South Korea Last Unit Reference Previous Highest Lowest
Consumer Confidence 103.80 points Sep/21 102.50 121.50 67.70
Consumer Spending 221145.50 KRW Billion Jun/21 213544.50 225854.60 7263.90
Disposable Personal Income 1938678.90 KRW Billion Dec/20 1925872.90 1938678.90 2866.70
Personal Savings 37.40 percent Mar/21 37.20 42.70 13.40
Consumer Credit 1805866.70 KRW Billion Jun/21 1764997.90 1805866.70 142746.90
Bank Lending Rate 2.87 percent Aug/21 2.78 17.01 2.63
Economic Optimism Index 105.00 Net Balance Sep/21 105.00 117.00 55.00

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.