*Interest on a loan determines how much your monthly payment will be, it also determines how much it will cost for you to borrow money for a big purchase like a home (mortgage), a car, a boat, or any other large purchase*.

Loan interest rates are determined by the countries central bank funds rate. This is the rate that the banks are able to borrow the money from the country itself. The lower the central bank funds rate, the lower the interest rate is on your mortgage or student loan.

Below, we have put together a list of the countries with absolutely the lowest central bank interest rate from the Global Interest Rate Monitor (GIRM). Getting a loan from these countries may be one of the smartest decisions to make when thinking about a big purchase. If you’re thinking of moving out of your current country, and don’t have a lot of money, going to a country with a low interest rate will make it easier for you to borrow money to start your new life!

See also NECO 2017 Result

###
** 1. Switzerland**

Switzerland is
number one on this list for a reason. They actually have a negative
interest rate. What that means, is that the government will actually
pay banks to lend them money. This trickles down to consumers. So if
you’re looking to move and would like to borrow money at the lowest and
cheapest rate. Switzerland is the place to go! It has a country interest rate of 0.75%, amount of
last change is 0.50%, date of last change is 15th of January 2015. So far,
in the year 2017 and 2016, the changes are at 0 while 2015 and 2014
both have a change of -50%.#### 2. Denmark

Denmark, like Switzerland has negative interest rates, meaning borrowing money there is practically free! It has a country interest rate of 0.65%, amount of last change is 10%, date of last change is 7th of January 2016. So far, in the year 2017, the change is at 0 while 2016, 2015 and 2014 have a change of 10%, -70% and -10% respectively.#### 3. Sweden

Sweden has a country interest rate of 0.50%, amount of last change is -15%, date of last change is 11th of February 2016, so far in the year 2017 there has been no change unlike 2016 which had a change of -15%, -35% in 2015 and -75% in 2014.####
**4. Japan**

Japan has a country interest rate of 0.10%,
amount of last change is -20%, date of last change is 29th of January
2016, so far in the year 2017, just like the years 2015 and 2014 there has been no change unlike 2016 which
had a change of -20%.#### 5. Bulgaria

Bulgaria has a country interest rate of 0.00%, amount of last change is -1%, date of last change is 29th of January 2016. So far, in the year 2017 and 2014, the changes are at 0 while 2016 and 2015 have a change of -1%.#### 6. European Union

European Union has a country interest rate of 0.00%, amount of last change is -5%, date of last change is 10th of March 2016. So far, in the year 2017 and 2015, the changes are at 0 while 2016 and 2014 have a change of -5% and -20% respectively.

#### 7. Czech Republic

Czech Republic has a country interest rate of 0.05%, amount of last change is 0, date of last change is 1st of November 2012. So far, in the years 2017, 2016, 2015 and 2014, the changes are at 0.

#### 8. Israel

Israel has a country interest rate of 0.10%, amount of last change is -15%, date of last change is 23rd of February 2016. So far, in the year 2017 and 2016, the changes are at 0 while 2015 and 2014 have a change of -15% and -75% respectively.

#### 9. Samoa

Samoa has a country interest rate of 0.14%, amount of last change is -1%, date of last change is 1st of July 2016. So far, in the year 2017, 2015 and 2014, the changes are at 0 while 2016 has a change of -1%.

#### 10. United Kingdom

United Kingdom has a country interest rate of 0.25%, amount of last change is -25%, date of last change is 4th of August 2016. So far, in the year 2017, 2015 and 2014, the changes are at 0 while 2016 has a change of -25%.

#### 11. Canada

Canada has a country interest rate of 0.50%, amount of last change is -25%, date of last change is 15th of July 2015. So far, in the year 2017, 2016 and 2014, the changes are at 0 while 2015 has a change of -50%.

#### 12. Fiji

Fiji has a country interest rate of 0.50%, amount of last change is 0, date of last change is 2nd of November 2011. So far, in the year 2017, 2016, 2015 and 2014, the changes are at 0.

#### 13. Norway

Norway has a country interest rate of 0.50%, amount of last change is -25%, date of last change is 17th of March 2016. So far, in the year 2017, the change is at 0 while 2016, 2015 and 2014 have a change of -25%, -50%, and -25% respectively.

#### 14. Hungary

Hungary has a country interest rate of 0.90%, amount of last change is -15%, date of last change is 24th of May 2016. So far, in the year 2017, the change is at 0 while 2016, 2015 and 2014 have a change of -45%, -75% and -90% respectively.

#### 15. U.S.A.

USA has a country interest rate of 1.00%, amount of last change is 25%, date of last change is 15th of March 2017. So far, in the year 2017, 2016 and 2015, the changes are at 25%, 25% and 25% respectively while 2014 has a change of 0.

#### 16. Albania

Albania has a country interest rate of 1.25%, amount of last change is 25%, date of last change is 4th of May 2016. So far, in the year 2017, the change is at 0 while 2016, 2015 and 2014 have a change of -50%, -50% and -75% respectively.

#### 17. Bahrain

Bahrain has a country interest rate of 1.25%, amount of last change is 25%, date of last change is 15th of March 2017. So far, in the year 2017, 2016 and 2015, the changes are at 25%, 25%, and 25% respectively while 2014 has a change of 0.

#### 18. HongKong

HongKong has a country interest rate of 1.25%, amount of last change is 25%, date of last change is 16th of March 2017. So far, in the year 2017, 2016 and 2015, the changes are at 25%, 25% and 25% respectively while 2014 has a change of 0.

#### 19. South Korea

South Korea has a country interest rate of 1.25%, amount of last change is -25%, date of last change is 9th of June 2016. So far, in the year 2017, the change is at 0 while 2016, 2015 and 2014 have a change of -25%, -50% and -50% respectively.

#### 20. Taiwan

Taiwan has a country interest rate of 1.38%, amount of last change is 12.5%, date of last change is 30th of June 2016. So far, in the years 2017 and 2014, the changes are at 0 while 2016 and 2015 both have a change of -25% and -25% respectively.

See also WAEC Result 2017

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