Average loan rates continue to decline in April
Average loan rates continue to decline in April
In April, average interest rates on loans in Uzbekistan’s national currency reached their lowest level since November 2023. For the first time this year, average rates on foreign currency loans fell below 10%, reflecting broader trends in easing lending conditions.
Commercial banks offered loans in soums at an average rate of 22.8%. Short-term loans (under one year) dropped to 23.1%, and long-term ones (over one year) to 22.7%, both down by 0.3 percentage points.
For individuals, the average loan rate fell to 22.6%—a full percentage point lower than the previous month—mainly due to cheaper long-term borrowing. Short-term personal loans declined slightly to 25.8%, a modest 0.2% decrease.
Business loans in soums became slightly more expensive overall, with the average rate rising to 22.9%. While short-term business loans saw a small drop of 0.4%, long-term rates increased by 0.5%.
Foreign currency loan rates fell to an average of 9.9%. Short-term FX loans dropped sharply by 1.2 percentage points, now at 9.4%, whereas long-term FX loans rose by 0.5%, reaching 10.3%.
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