In 2024, preliminary figures reflected that the average lending nominal interest rates of banks in the Philippines reached a whooping 7.89 percent — the highest recorded since 2017. The average lending nominal interest rate of banks in the country fluctuated in the observed period.

The real interest rate in the Philippines increased by 4.1 percentage points (+179.04 percent) in 2019. With 6.35 percent, the real interest rate thereby reached its highest value in the observed period. Real interest rate is the lending interest rate adjusted for inflation as measured by the GDP deflator.Find more statistics on other topics about the Philippines with key insights such as market capitalization of listed domestic companies as a share of GDP, broad money as a percentage of GDP, and market capitalization of listed domestic companies.

Lending Rate in Philippines remained unchanged at 6.25 percent in February. This dataset provides - Philippines Overnight Lending Facility Rate- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Philippines Commercial Real Estate Loans: CS: Interest Rate Floors data was reported at 28.600 Index in Sep 2018. This records an increase from the previous number of 17.600 Index for Jun 2018. Philippines Commercial Real Estate Loans: CS: Interest Rate Floors data is updated quarterly, averaging 6.700 Index from Dec 2011 (Median) to Sep 2018, with 28 observations. The data reached an all-time high of 40.000 Index in Mar 2012 and a record low of -11.800 Index in Sep 2014. Philippines Commercial Real Estate Loans: CS: Interest Rate Floors data remains active status in CEIC and is reported by Bangko Sentral ng Pilipinas. The data is categorized under Global Database’s Philippines – Table PH.S007: Senior Bank Loan Officers' Survey.

Interest rate spread (lending rate minus deposit rate, %) in Philippines was reported at 3.0122 % in 2019, according to the World Bank collection of development indicators, compiled from officially recognized sources. Philippines - Interest rate spread (lending rate minus deposit rate, %) - actual values, historical data, forecasts and projections were sourced from the World Bank on March of 2025.

In 2024, preliminary figures reflected that the average lending real interest rates of banks in the Philippines reached 5.09 percent, indicating a significant increase from the previous year. This was the highest lending real interest rate of banks since 2017.

Philippines Interbank Call Loan Rate data was reported at 5.813 % pa in 21 Mar 2025. This records a decrease from the previous number of 5.844 % pa for 20 Mar 2025. Philippines Interbank Call Loan Rate data is updated daily, averaging 4.125 % pa from Jan 1995 (Median) to 21 Mar 2025, with 6635 observations. The data reached an all-time high of 8.000 % pa in 12 Jul 2007 and a record low of 0.000 % pa in 05 Jan 2023. Philippines Interbank Call Loan Rate data remains active status in CEIC and is reported by Bangko Sentral ng Pilipinas. The data is categorized under Global Database’s Philippines – Table PH.M005: Interbank Rates. Interbank Call Loan Rate contains the interest rates on interbank call loan facility. Interbank Call Loan Rate is the rate on loans among banks for periods not exceeding 24 hours primarily for the purpose of covering reserve deficiencies. Interbank call loan rates are classified as high, low and average and Volume of Transactions [COVID-19-IMPACT]

Philippines PH: Real Interest Rate data was reported at 3.232 % pa in 2017. This records a decrease from the previous number of 3.877 % pa for 2016. Philippines PH: Real Interest Rate data is updated yearly, averaging 4.691 % pa from Dec 1976 (Median) to 2017, with 42 observations. The data reached an all-time high of 14.163 % pa in 1986 and a record low of -16.396 % pa in 1984. Philippines PH: Real Interest Rate data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Philippines – Table PH.World Bank.WDI: Interest Rates. Real interest rate is the lending interest rate adjusted for inflation as measured by the GDP deflator. The terms and conditions attached to lending rates differ by country, however, limiting their comparability.; ; International Monetary Fund, International Financial Statistics and data files using World Bank data on the GDP deflator.; ;

Philippines Interest Rate: BSP Rediscount Rates data was reported at 5.288 % pa in Nov 2018. This records an increase from the previous number of 5.125 % pa for Oct 2018. Philippines Interest Rate: BSP Rediscount Rates data is updated monthly, averaging 5.917 % pa from Jan 1991 (Median) to Nov 2018, with 326 observations. The data reached an all-time high of 18.286 % pa in Feb 1998 and a record low of 3.060 % pa in Dec 2016. Philippines Interest Rate: BSP Rediscount Rates data remains active status in CEIC and is reported by Bangko Sentral ng Pilipinas. The data is categorized under Global Database’s Philippines – Table PH.M004: Manila Reference, Rediscount and Lending Rate. Refers to the rate charged on eligible papers which banks rediscount with the BSP. It is computed monthly as one percent below the 91-day Treasury bill rate for the preceding month.

Key information about Philippines Policy Rate

• Philippines cash rate (Policy Rate: Month End: Overnight Lending Facility) was set at 7.00 % pa in May 2024, compared with 7.00 % pa in the previous Apr 2024.
• Philippines Policy Rate averaged 3.50 % pa and is updated monthly, available from Jun 2016 to May 2024.
• The data reached an all-time high of 7.00 % pa in May 2024 and a record low of 2.50 % pa in Apr 2022.

Overnight Lending Facility Rate is based on Interest Rate Corridor (IRC) System effective 3 June 2016. For Policy Rate prior to June 2016, please refer to the Repurchase Rate.


Related information about Philippines Policy Rate

• In the latest reports, Philippines Short Term Interest Rate: Month End: Treasury Bill Rate: 91 Days was reported at 5.74 % pa in May 2024.
• Its Long Term Interest Rate (Long Term Interest Rate: Month End: Philippines: Treasury Bond Rate: 10 Years) was reported at 6.83 % pa in May 2024.
• Philippines Exchange Rate against USD averaged 55.89 (USD/PHP) in Jun 2023.
• Its Real Effective Exchange Rate was 144.19 in May 2024.

Key information about Philippines Short Term Interest Rate

• Philippines Short Term Interest Rate: Month End: Treasury Bill Rate: 91 Days was reported at 5.21 % pa in Feb 2025, compared with 5.38 % pa in the previous month.
• Philippines Short Term Interest Rate data is updated monthly, available from Jan 1975 to Feb 2025.
• The data reached an all-time high of 28.57 % pa in Jan 1991 and a record low of 0.00 % pa in Oct 2013.
• Short Term Interest Rate is reported by reported by Bureau of the Treasury.

For periods with no value, there were no Treasury Bills issuance because the Treasury rejected all bids.


Related information about Philippines Short Term Interest Rate

• In the latest reports, Philippines Long Term Interest Rate: Month End: Philippines: Treasury Bond Rate: 10 Years was reported at 6.12 % pa in Feb 2025.
• The cash rate (Policy Rate: Month End: Overnight Lending Facility) was set at 7.00 % pa in May 2024.
• Philippines Exchange Rate against USD averaged 55.89 (USD/PHP) in Jun 2023.

REL: PBS: BP: Past Due: Residential data was reported at 99.675 % in Dec 2024. This records a decrease from the previous number of 104.914 % for Sep 2024. REL: PBS: BP: Past Due: Residential data is updated quarterly, averaging 39.971 % from Mar 2013 (Median) to Dec 2024, with 48 observations. The data reached an all-time high of 112.019 % in Sep 2020 and a record low of 10.114 % in Jun 2013. REL: PBS: BP: Past Due: Residential data remains active status in CEIC and is reported by Bangko Sentral ng Pilipinas. The data is categorized under Global Database’s Philippines – Table PH.KB007: Loans: Real Estate Loans.

As of December 2023, the gross value of loans granted by universal and commercial banks in the Philippines reached approximately 13 trillion Philippine pesos. Overall, the value of loans these types of banks granted gradually increased over the past decade.

In 2023, the value of lending loan book via digital financial services in the Philippines reached three billion U.S. dollars. By 2030, the digital lending loan book value was forecast to amount to 20 billion U.S. dollars.

Key information about Philippines Non Performing Loans Ratio

• Philippines Non Performing Loans Ratio stood at 3.3 % in Dec 2024, compared with the ratio of 3.5 % in the previous month
• Philippines Non Performing Loans Ratio data is updated monthly, available from Mar 2008 to Dec 2024
• The data reached an all-time high of 5.0 % in Mar 2008 and a record low of 1.7 % in Dec 2017

Bangko Sentral ng Pilipinas provides monthly Non Performing Loans Ratio. Non Performing Loans are defined as past due loan accounts whose principal and/or interest is unpaid for 30 days or more after due date (applicable to loans payable in lump sum and loans payable in quarterly, semi-annual or annual instalments), including the outstanding balance of loans payable in monthly instalments when 3 or more instalments are in arrears, the outstanding balance of loans payable daily, weekly or semi-monthly instalments when the total amount of arrearages reaches 10% of the total loan receivable balance, restructured loans which do not meet the requirements to be treated as performing loans under existing rules and regulations, and all items in litigation. Effective from September 2002, NPLs exclude loans classified as Loss in the latest BSP examination which are fully covered by allowance for probable losses and applicable to a bank with no unbooked valuation reserves and other capital adjustments required by the BSP (Circular No. 351). Also, NPL ratio is inclusive of interbank loans.


Further information about Philippines Non Performing Loans Ratio

• In the latest reports, Money Supply M2 in Philippines increased 8.2 % YoY in Dec 2024
• Philippines Foreign Exchange Reserves was measured at 90.8 USD bn in Dec 2024
• The Foreign Exchange Reserves equaled 9.3 Months of Import in Dec 2024
• The country's Domestic Credit reached 353.7 USD bn in Dec 2024, representing an increased of 10.4 % YoY
• Household Debt of Philippines reached 52.2 USD bn in Sep 2024, accounting for 11.3 % of the country's Nominal GDP

As of the end of December 2022, there were over 14.2 million downloads made on online lending applications in the Philippines. This indicates a significant increase from the previous year's downloads. These platforms, which can be download on Android or iOS include Casha, Digido, and pera247 among others.

Key information about Philippines Total Loans Growth

• Philippines Total Loans Growth was reported at 12.62 % in Dec 2024
• This records an increase from the previous number of 11.63 % for Nov 2024
• Philippines Total Loans Growth data is updated monthly, averaging 12.92 % from Mar 2009 to Dec 2024, with 190 observations
• The data reached an all-time high of 20.70 % in Oct 2014 and a record low of -4.56 % in Apr 2021
• Philippines Total Loans Growth data remains active status in CEIC and is reported by CEIC Data
• The data is categorized under World Trend Plus’s Global Economic Monitor – Table: Total Loans: Y-o-Y Growth: Monthly

CEIC calculates monthly Total Loans Growth from monthly Total Loans. Bangko Sentral ng Pilipinas provides Total Loans in local currency. Total Loans Growth covers lenders as Philippine Banking System.