Top 20 countries with highest interest rates – Nigeria ranks 5th

An interest rate tells you how high the cost of borrowing is, or high the rewards are for saving.

So, if you’re a borrower, the interest rate is the amount you are charged for borrowing money, shown as a percentage of the total loan amount.

1. Argentina: 97%

2. Venezuela: 57.57%

3. Ukraine: 25%

4. Pakistan: 21%

5. Nigeria: 18.5%

6. Egypt: 18.25%

7. Iran: 18%

8. Brazil: 13.75%

9. Mexico: 11.25%

10. Turkey: 8.5%

11. South Africa: 8.25%

12. Russia: 7.5%

13. India: 6.5%

14. Indonesia: 5.75%

15. Saudi Arabia: 5.75%

16. US: 5.25%

17. UAE: 5.15%

18. Israel: 4.75%

19. Canada: 4.75%

20. UK: 4.5%