GCB Bank has reduced interest rates on personal loans from 26 per cent to 24 per cent per annum with immediate effect.
The Bank has also granted a two-month moratorium on both the principal and interest repayment on personal loans.
The measures form part of extensive efforts by the Bank to lessen the impact of the new coronavirus on its customers and Ghanaians in general.
Managing Director of GCB Bank Anselm Ray Sowah stated that “as Ghana’s largest indigenous Bank, we have the mandate to seek the interest and well-being of Ghanaians and to be at the forefront of Ghana’s socio-economic drive”.
“The reduction in interest rates and the moratorium granted are thus a reflection of the Bank's tireless commitment in helping to positively impact the lives of Ghanaians especially in these trying times,” he added.
Head of Consumer Banking of GCB Bank, John Adamah, stated that the Bank is conscious of the hardships the coronavirus is inflicting on Ghanaians through low productivity, job and salary cuts, culminating in reduced household income, adding that this is a direct intervention aimed at helping individuals to meet pressing personal needs.
GCB Bank, which recently celebrated its 67th anniversary, has been at the forefront of the Covid-19 fight and was the first bank to make a donation to the COVID-19 National Response Team through the Ministry of Health.
Over the three few months, the Bank has made donations to Ministry of Sanitation and Water Resources, Ministry of Local Government and Rural Development, the Judiciary and also provided lunch to 650 frontline health workers for almost two months, amongst others to help the country in the battle against Covid-19.
GCB has also provided personal protective Equipment (PPEs) and water storage tanks to selected Metropolitan/Municipal/District Assemblies, market centres and health facilities around the country.
Latest Stories
-
I will make you millionaires – Bawumia assures small scale miners
8 mins -
Majority caucus requests reconvening of Parliament
10 mins -
Today’s front pages: Friday, May 3, 2024
53 mins -
CAFCC: USM Alger file appeal at CAS to contest CAF’s decisions on RS Berkane jersey
2 hours -
Africa’s Outstanding Professional, Engr. Ebenezer Kwadjo Dankyi
2 hours -
Edudzi Tameklo insists Cecilia Dapaah’s case requires FBI’s findings for completeness
3 hours -
Deloitte Ghana wins Africa ESG Company of the Year 2024
3 hours -
Medical Laboratory Professionals threaten to strike over conditions of service
5 hours -
Residents of Anloga, Keta express frustration over ECG billing
6 hours -
I don’t believe in praying in tongues – Strongman
6 hours -
‘After The floods’: VRA and GMet clash over cause of Akosombo Dam spillage disaster
6 hours -
‘After The Floods’: Victims suffer harsh conditions 6 months after Akosombo dam disaster
6 hours -
Akufo-Addo to unveil Otumfuo commemorative stamp
7 hours -
EduSpots distributes over 100 tablets and laptops to 30 community-led education spaces
7 hours -
Taxation is driving away investors – FABAG General Secretary
7 hours