Philippines - Deposit interest rate (%)

The value for Deposit interest rate (%) in Philippines was 4.08 as of 2019. As the graph below shows, over the past 43 years this indicator reached a maximum value of 21.17 in 1984 and a minimum value of 1.23 in 2014.

Definition: Deposit interest rate is the rate paid by commercial or similar banks for demand, time, or savings deposits. The terms and conditions attached to these rates differ by country, however, limiting their comparability.

Source: International Monetary Fund, International Financial Statistics and data files.

See also:

Year Value
1976 8.50
1977 8.50
1978 8.50
1979 8.67
1980 11.67
1981 13.85
1982 13.74
1983 13.58
1984 21.17
1985 18.91
1986 11.25
1987 8.20
1988 11.32
1989 14.13
1990 19.54
1991 18.80
1992 14.27
1993 9.61
1994 10.54
1995 8.39
1996 9.68
1997 10.19
1998 12.11
1999 8.17
2000 8.31
2001 8.74
2002 4.61
2003 5.22
2004 6.18
2005 5.56
2006 5.29
2007 3.70
2008 4.49
2009 2.74
2010 3.22
2011 3.39
2012 3.16
2013 1.66
2014 1.23
2015 1.59
2016 1.60
2017 1.88
2018 3.12
2019 4.08

Development Relevance: Both banking and financial systems enhance growth, the main factor in poverty reduction. At low levels of economic development commercial banks tend to dominate the financial system, while at higher levels domestic stock markets tend to become more active and efficient. The size and mobility of international capital flows make it increasingly important to monitor the strength of financial systems. Robust financial systems can increase economic activity and welfare, but instability can disrupt financial activity and impose widespread costs on the economy.

Limitations and Exceptions: Countries use a variety of reporting formats, sample designs, interest compounding formulas, averaging methods, and data presentations for indices and other data series on interest rates. The IMF's Monetary and Financial Statistics Manual does not provide guidelines beyond the general recommendation that such data should reflect market prices and effective (rather than nominal) interest rates and should be representative of the financial assets and markets to be covered. For more information, please see http://www.imf.org/external/pubs/ft/mfs/manual/index.htm.

Statistical Concept and Methodology: Many interest rates coexist in an economy, reflecting competitive conditions, the terms governing loans and deposits, and differences in the position and status of creditors and debtors. In some economies interest rates are set by regulation or administrative fiat. In economies with imperfect markets, or where reported nominal rates are not indicative of effective rates, it may be difficult to obtain data on interest rates that reflect actual market transactions. Deposit and lending rates are collected by the International Monetary Fund (IMF) as representative interest rates offered by banks to resident customers. The terms and conditions attached to these rates differ by country, however, limiting their comparability. In 2009 the IMF began publishing a new presentation of monetary statistics for countries that report data in accordance with its Monetary Financial Statistical Manual 2000. The presentation for countries that report data in accordance with its International Financial Statistics (IFS) remains the same.

Periodicity: Annual

Classification

Topic: Financial Sector Indicators

Sub-Topic: Interest rates