Deposit Interest Rate in Jamaica increased to 5.70 percent in 2023 from 4 percent in 2022. Deposit Interest Rate in Jamaica averaged 12.28 percent from 1978 until 2023, reaching an all time high of 36.60 percent in 1994 and a record low of 2.50 percent in 2020. source: World Bank

Deposit Interest Rate in Jamaica is expected to reach 3.70 percent by the end of 2024, according to Trading Economics global macro models and analysts expectations. In the long-term, the Deposit Interest Rate in Jamaica is projected to trend around 3.70 percent in 2025, according to our econometric models.

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Deposit Interest Rate in Jamaica

Related Last Previous Unit Reference
Interest Rate 7.00 7.00 percent Feb 2024
Deposit Interest Rate 5.70 4.00 percent Dec 2023
Foreign Exchange Reserves 4672.64 4751.73 USD Million Jan 2024
Money Supply M2 1004486.05 968105.10 JMD Million Dec 2023
Money Supply M1 497665.07 469180.65 JMD Million Dec 2023
Money Supply M3 1215810.08 1198163.28 JMD Million Sep 2023
Central Bank Balance Sheet 1133216.00 1070095.00 JMD Million Aug 2021

Deposit Interest Rate in Jamaica
The Deposit Interest Rate is the average rate paid by commercial banks to individuals or corporations on deposits.
Actual Previous Highest Lowest Dates Unit Frequency
5.70 4.00 36.60 2.50 1978 - 2023 percent Yearly