Knowing these norms will give you valuable leverage when negotiating for the best deal. Rates and terms will vary based on region, the health of a company and the value of its assets. Figures are revised as new reports become available, so check back at least once a month for updates. Figures reflect the average interest rate on new short-term loans. It does not include independent finance companies.
Foreign banks tend to offer the lowest rates, while small domestic banks are usually highest.
Compares the average maturity or interval between rate adjustments among the types of institutions listed above. A longer maturity is usually more desirable, especially when rates are rising, because it brings stability to your financial planning. In recent years, small domestic banks usually offered the longest maturity. Maturities at foreign-based banks were shortest. As a rule, most borrowers would prefer a non-callable loan.