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Where are the cheapest loans and why do we have high interest rates?
Loan interest rates in our country are not very high.
But the percentages in the world are as follows:
— In Denmark. The loan percentage is usually 2-3%, but sometimes it can be a negative mortgage rate. That is, the bank not only does not charge for the loan, but also pays the borrower, for example, $38 per month.
- Japan 1,45%;
— Croatia 2,77%;
— Taiwan 2,89%.
By January 2023, the largest interest-rate loans in the world will be in Venezuela, and now the loan percentage in this country is 59,3% (https://take-profit.org/statistics/interest-rate/). Uzbekistan is also among the largest lenders in the world (23-29%).
The main reason for the high loan interest rate in our country is the high refinancing rate (currently 14%). That is, commercial banks do not give loans at a lower interest rate. Another factor is the level of inflation and the economic situation of the country.