The average savings deposit rate and lending rate remained at 8.0Pc and 14.25Pc, respectively in 2021.
The average lending rate of all commercial banks were 14.25Pc with a maximum lending rate of 21.5% and minimum lending rate of 7%. While the commercial banks saving deposit rates were 8Pc with a maximum 9% and minimum of 7%.
The minimum interest rate on saving deposit is set by National Bank of Ethiopia (NBE), whereas the maximum indicates the highest rate some banks are paying voluntarily.
NBE does not control lending rates. Hence, the minimum and maximum rates are determined by the market.
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