Singapore Interest Rate Spread
Interest rate spread (lending rate minus deposit rate) FR.INR.LNDP
Singapore's interest rate spread was 5.13% in 2021, ranked 48th globally. This represents a 1.2% increase from 2020. Data from World Bank, covering 1978–2021.
Overview
Singapore's interest rate spread stood at 5.13% in 2021, a rise of +0.06pp from 2020. Singapore ranked 48th globally.
Singapore's interest rate spread has experienced fluctuations over the 44-year period from 1978 to 2021, with a notable peak of 5.24% in 2012 and a trough of 2.30% in 1979. The interest rate spread, which measures the difference between the lending and deposit rates, has generally remained within a narrow range, with a median value of 3.51%. As of 2021, the spread stood at 5.13%, ranking 48th globally. When compared to its peer countries, Singapore's spread is slightly higher than that of Macao SAR, China at 5.10%, but lower than Indonesia at 5.26%. This modest spread suggests a stable banking system, which is characteristic of Singapore's well-regulated and financially sound environment. However, any increase in lending rates or decrease in deposit rates could widen the spread and alter the trajectory, potentially impacting Singapore's monetary policy and financial stability.
Data & projection
| Year | Interest Rate Spread | YoY change | Rank |
|---|---|---|---|
| 2021 | 5.13% | +0.06pp | #48 |
| 2020 | 5.07% | +0.01pp | #46 |
| 2019 | 5.05% | −0.12pp | #46 |
| 2018 | 5.17% | +0.03pp | #49 |
| 2017 | 5.14% | −0.02pp | #54 |
| 2016 | 5.16% | −0.02pp | #55 |
| 2015 | 5.18% | −0.02pp | #59 |
| 2014 | 5.21% | −0.03pp | #58 |
| 2013 | 5.24% | −0.00pp | #58 |
| 2012 | 5.24% | +0.03pp | #53 |
| 2011 | 5.21% | +0.04pp | #51 |
| 2010 | 5.17% | +0.09pp | #50 |
| 2009 | 5.09% | +0.13pp | #44 |
| 2008 | 4.96% | +0.16pp | #43 |
| 2007 | 4.80% | +0.06pp | #41 |
Detected Pattern
Analysis
Singapore matched the Export Boom Cycle pattern in 2021. Historically, 71% of countries showing this pattern (546 out of 768) saw interest rate spread improve within 24 months. View full analysis →
Frequently Asked Questions
Singapore's interest rate spread was 5.13% in 2021. Ranked 48th globally. This represents a 1.2% increase from the previous year.
Singapore's interest rate spread peaked at 5.24% in 2012.
The lowest interest rate spread in Singapore was 2.30% in 1979.
Singapore ranks 48th globally in interest rate spread as of 2021.
The World Bank indicator code is FR.INR.LNDP. Data sourced from World Bank.
The interest rate spread of Singapore in 2021 was 5.13%. This ranks 48th in the world.
Cite this page
@misc{historysaid_singapore_interest-rate-spread,
title = {Singapore Interest Rate Spread},
url = {https://historysaid.com/singapore/interest-rate-spread/},
publisher = {HistorySaid},
year = {2026}
}