Mongolia: Deposit interest rate (%)

Key figures

What the numbers say

In 2021, Mongolia's deposit interest rate (%) fell 3.66 percentage points on 2020 (from 10.26% to 6.6%).

Across the 28 yearly changes before that (1993 to 2020), the average change was −17.49 percentage points and a typical year strayed about 50.78 percentage points from that (the standard deviation). This year's change was 0.3 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

On record, the biggest yearly rise was 1.89 percentage points in 2009 and the biggest yearly fall was 219.8 percentage points in 1993. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2012 to 2021 the straight-line trend is downward, about 0.38 percentage points a year. A straight line explains 35% of the movement over 10 observed years.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

How it compares

In 2021, Mongolia had the 1st highest value of the 10 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.

Closest to Mongolia in the 2021 ranking

• Pakistan — 2nd of 10: 5.75%
• Benin — 3rd of 10: 5.3%
• Burkina Faso — 4th of 10: 5.3%

What this measures

Deposit interest rate is the rate paid by commercial or similar banks for demand, time, or savings deposits. The terms and conditions attached to these rates differ by country, however, limiting their comparability. This indicator is expressed as a percentage (a÷b)*100.

Limitations: Countries use a variety of reporting formats, sample designs, interest compounding formulas, averaging methods, and data presentations for indices and other data series on interest rates. The IMF's Monetary and Financial Statistics Manual does not provide guidelines beyond the general recommendation that such data should reflect market prices and effective (rather than nominal) interest rates and should be representative of the financial assets and markets to be covered. For more information, please see http://www.imf.org/external/pubs/ft/mfs/manual/index.htm.

All 30 values

Deposit interest rate (%) in nearby economies

• Australia — 1.56% (2019)
• Brunei Darussalam — 0.31% (2025)
• Cambodia — 1.29% (2025)
• China — 1.5% (2024)
• Fiji — 1.71% (2024)
• Hong Kong SAR, China — 0.2% (2025)
• Indonesia — 5.41% (2025)
• Japan — 0.32% (2017)
• Korea, Rep. — 2.73% (2025)
• Macao SAR, China — 0.32% (2025)
• Malaysia — 2.42% (2025)
• Micronesia, Fed. Sts.

More financial sector data for Mongolia

• DEC alternative conversion factor (LCU per US$) — US$3,545 (2025)
• GDP deflator (base year varies by country) — 261.96 (2025)
• Inflation, GDP deflator (annual % growth) — 4.36% (2025)
• Inflation, GDP deflator, linked series (annual % growth) — 4.36% (2025)
• GDP deflator, linked series (base year varies by country) — 261.96 (2025)
• Domestic credit to private sector by banks (% of GDP) — 48.52% (2025)
• Official exchange rate (LCU per US$, period average) — US$3,545 (2025)
• Net domestic credit (current LCU) — 36.24 trillion (2024)
• Net foreign assets (current LCU) — 8.6 trillion (2024)

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Questions people ask

What is Mongolia's deposit interest rate (%)?

6.6% in 2021, according to the World Bank (World Development Indicators).

How has it changed since 1992?

It is down 493.4 percentage points from 500% in 1992. The highest value was 500% in 1992 and the lowest 6.6% in 2021.

How does Mongolia rank?

1st highest of 10 economies with data for 2021.

Is the latest change in deposit interest rate (%) unusual for Mongolia?

In 2021, Mongolia's deposit interest rate (%) fell 3.66 percentage points on 2020 (from 10.26% to 6.6%). Across the 28 yearly changes before that (1993 to 2020), the average change was −17.49 percentage points and a typical year strayed about 50.78 percentage points from that (the standard deviation). This year's change was 0.3 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Source

World Bank, World Development Indicators, indicator FR.INR.DPST, licensed CC BY 4.0. Original source: International Financial Statistics database, International Monetary Fund (IMF) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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