This scientific article empirically analyzed the factors affecting the bank interest rates on short term national currency loans in case of Uzbekistan. In our research work, the impulse response of bank interest rates on short term national currency loans to various factors was studied based on statistical data for the period of 2017M1-2023M12. In particular, monthly inflation rate, monthly real interest rate of the Central bank, monthly real money market rate were taken as exogenous variables, and the short term household deposits rates in national currency were taken as endogenous variables and to express the effect between them SVAR model was used. According to the obtained results, we can cite the inflation level as one of the main factors affecting the bank interest rates on short term national currency loans. It was also found that there is a strong autocorrelation in the bank interest rates on short term national currency loans. According to the results of econometric analysis, it was seen that the short term household deposits rates in national currency, the money market rates, and the refinancing rate of the Central Bank have a weak effect on the bank interest rates on short term national currency loans.