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COMPARE INTEREST RATES - COMPARISION OF INTEREST RATES OF COUNTRIES

Interest rates basically indicate the rates at which you can borrow money, but it becomes complicated to choose from various options especially when it’s your first time. There are two principle terms that are related to the interest rate such as.

Interest rate on borrowing- this is the rates charged according to the total amount borrowed. It is to be repaid along with the original money you borrowed. Usually interest rates are quoted annually but not in every case.

Interest rate on saving- being in saving with a bank means effectively lending your to the bank till the date you want it back. It is the interest that the bank pays you for borrowing your money.

As we look upon the interest rates reserve banks of Australia that are on hold at 4.75% where as the Federal Reserve Bank of USA hold 0.25%. The central bank of India sets it to the minimum of 3.5% to the maximum rate of 7.5% for savings or term deposits. Similarly you can compare the interest rates of different counties that would help you either to lend or to invest ...
... your money at the right place and assist you to get the maximum gain. Here are some countries to give out the approximation about the interest rates of different banks of various countries

Bank of Canada – 1%
Bank of England – 0.5%
Bank of Japan – 0.1%
European central bank – 1%
Federal reserve bank – 0.25%
Swiss national bank – 0.25%
The reserve bank of Australia – 4.75%
Egypt – 8.25%
South Africa – 6%
India – 6.5%
China – 6.06%
Korea republic – 2.25%
United kingdom – 0.5%
Turkey – 6.5%
Brazil – 11.25%
Sweden – 1%
Hungary – 6%
Switzerland – 0.25%
Norway – 1.75%

These interest rates are set according to the financial condition and status of the country. Countries having a strong financial status will have less interest rate whereas the country with inadequate finance will compelled to set up high rates of interests.
Thus it can be compared conveniently. As it is said that “Money is like a sixth sense and you can’t make use of other five without it” so choose your option wisely.

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