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Monthly interest rate for new and existing business loans in Canada 2016-2021

Published by F. Norrestad, Nov 2, 2021
The interest rate for new and existing business loans in Canada dropped significantly over the early months of 2020. At the start of February 2020, interest rate for business loans was 4.02 percent, and one month later - the start of March 2020 - the rate had dropped down to 3.29 percent. Though not as dramatic as between February and March, the interest rate has continued to decrease and was 2.82 percent at the start of August 2021.

Monthly interest rate for new and existing business loans in Canada from July 2016 to August 2021

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Release date

November 2021

Region

Canada

Survey time period

July 2016 to August 2021

Special properties

Month end rate

Supplementary notes

As of January 2019, total business loans exclude non-residential mortgages to the personal sector.

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