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Historical series: the last available observation is Sep 2019. This dataset does not describe current conditions.

Interest Rates•Series ID: FILRSBVWA•1993–2019

Small Business Variable Lending Rate - Historical Data

Compiled from APRA and RBA business lending statistics (Table F5/F7), measuring the cost of debt finance for Australian enterprises.

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Current Statistics & Historical Records

Latest Reading (Sep 2019)
5.20%
Prev (Jun 2019): 5.45%-0.25 pp
Highest Recorded (Jun 1996)
12.46%

Recorded in Jun 1996

Lowest Recorded (Sep 2019)
5.20%

Recorded in Sep 2019

Long-Run Mean (1993–2019)
8.30%

27 annual observations · Monthly

Small Business Variable Lending Rate - Historical Series (1993–2019)

% p.a.

Drag to pan, scroll to zoom, or toggle between full annual history (1993–2019) and recent monthly releases.

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Source: Reserve Bank of Australia (RBA) / Australian Bureau of Statistics (ABS) (FILRSBVWA) Latest: 5.2 % p.a. (Sep 2019)

Small Business Variable Lending Rate by Decade (1993–2019)

Decade averages, peaks, and troughs across Australian economic cycles

1990s1993–1999
10.51%
High (1995):12.39%
Low (1999):8.31%
2000s2000–2009
8.32%
High (2008):9.66%
Low (2009):7.32%
2010s2010–2019
6.73%
High (2011):8.56%
Low (2019):5.43%

Small Business Variable Lending Rate - Historical Table (1993–2019)

Unit: % p.a. · Source: Reserve Bank of Australia (RBA) / Australian Bureau of Statistics (ABS) (FILRSBVWA)

Download full CSV (27 rows) ↓
YearBusiness Lending Rate (% p.a.)Year Range (Low – High)Historical Context / Year Snapshot
20195.43%5.20% – 5.65% The Australian Economy in 2019 →
20185.66%5.65% – 5.68% The Australian Economy in 2018 →
20175.72%5.69% – 5.77% The Australian Economy in 2017 →
20165.87%5.72% – 6.11% The Australian Economy in 2016 →
20156.12%6.03% – 6.36% The Australian Economy in 2015 →
20146.70%6.61% – 6.77% The Australian Economy in 2014 →
20137.01%6.79% – 7.28% The Australian Economy in 2013 →
20127.78%7.29% – 8.26% The Australian Economy in 2012 →
20118.56%8.22% – 8.70%China mining investment & Terms of Trade supercycle peak
20108.41%8.13% – 8.72% The Australian Economy in 2010 →
20097.32%7.11% – 7.78% The Australian Economy in 2009 →
20089.66%8.44% – 10.20%Global Financial Crisis (GFC) & emergency rate cuts
20078.85%8.67% – 9.19% The Australian Economy in 2007 →
20068.34%8.02% – 8.70% The Australian Economy in 2006 →
20058.07%8.02% – 8.12% The Australian Economy in 2005 →
20048.04%7.99% – 8.07% The Australian Economy in 2004 →
20037.76%7.62% – 8.05% The Australian Economy in 2003 →
20027.70%7.48% – 7.82% The Australian Economy in 2002 →
20018.10%7.30% – 8.88% The Australian Economy in 2001 →
20009.32%8.82% – 9.60%Introduction of the 10% Goods and Services Tax (GST)
19998.31%8.14% – 8.47% The Australian Economy in 1999 →
19988.94%8.59% – 9.36% The Australian Economy in 1998 →
199710.04%9.39% – 10.77% The Australian Economy in 1997 →
199611.99%11.26% – 12.46% The Australian Economy in 1996 →
199512.39%12.30% – 12.44% The Australian Economy in 1995 →
199411.14%10.80% – 11.95% The Australian Economy in 1994 →
199310.77%10.77%RBA formalises 2–3% inflation targeting

Related Australian Economic Statistics

RBA Cash Rate Target & Overnight Cash RateInterest Rates · 1976–2026
4.36%Sep 2026
Total Private Sector Credit GrowthInterest Rates · 1977–2026
8.6%Aug 2026
Private Business Investment GrowthEconomic Growth · 1986–2026
10.5%2026 Q2
 Compare Business Lending Rate against another indicator →

Source Information & Methodology

Primary Institution:
Reserve Bank of Australia (RBA) / Australian Bureau of Statistics (ABS)
Dataset / Publication:
Small Business Weighted-Average Variable Rate on Credit Outstanding
Series / Table ID:
RBA Statistical Table F5 (FILRSBVWA)
Release Frequency:
Monthly
Licence:
CC BY 4.0 International / RBA Terms

• Primary source: Reserve Bank of Australia (RBA) / Australian Bureau of Statistics (ABS) - Small Business Weighted-Average Variable Rate on Credit Outstanding (RBA Statistical Table F5).

• Observation frequency: Monthly. Annual table values represent calendar year averages.

• Series coverage spans 1993 to 2019 (27 annual observations).

APA Citation:Reserve Bank of Australia & Australian Bureau of Statistics. (2026). Small Business Weighted-Average Variable Rate on Credit Outstanding (F5: FILRSBVWA). Retrieved October 2026 from https://www.rba.gov.au/statistics/tables/

Frequently Asked Questions: Small Business Variable Lending Rate

What is the current Small Business Variable Lending Rate?
As of Sep 2019, the latest recorded Small Business Variable Lending Rate is 5.2 (% p.a.), compared with 5.45 in Jun 2019.
What is the highest and lowest Small Business Variable Lending Rate ever recorded in Australia?
Across the historical series (1993–2019), the highest observation was 12.46 (% p.a.) in Jun 1996, while the lowest was 5.2 (% p.a.) in Sep 2019. The long-run historical average is 8.3.
Where is the official Small Business Variable Lending Rate data sourced from?
This series is compiled from Reserve Bank of Australia (RBA) / Australian Bureau of Statistics (ABS) (Small Business Weighted-Average Variable Rate on Credit Outstanding, Series ID: FILRSBVWA) and is updated on a monthly basis under CC BY 4.0 International / RBA Terms.