Audio By Carbonatix
Data released by the Bank of Ghana has revealed that Republic Bank and Bank of Africa provide the lowest interest rates on loans for individuals.
In its Annualized Percentage Rates (APR) ending June 2025, the Bank of Ghana report captured all 23 banks in the country.
The report showed that Bank of Africa offered an interest rate of 20.22 percent for its one year tenor while Republic Bank offered an interest rate of 21.43 percent for its three year period.
The APR reflects the true cost of a loan that economic agents are confronted with when they go through an approval process to secure a loan facility. It comprises the Ghana Reference Rate, bank specific risk-premia and other bank-specific charges.
“The APRs reported in this table are indicative. A typical customer of a bank may be faced with an actual APR different from these indicative APRs, depending on the bank’s assessment of the borrower’s specific circumstance”, the statement from the BoG said.
Below is the full report
Latest Stories
-
Miss Health Organisation unveils new Miss Health Africa and Ghana queens
42 minutes -
Andy Dosty set to headline inaugural Ghana Independence Day celebrations in Europe
43 minutes -
GoldBod rejects IMF claims of $214m losses under gold-for-reserves programme
54 minutes -
Some MMDCEs reject uniform 24-Hour Economy Market model, seek flexible options
59 minutes -
Government to reform cultural, creative sector policies
1 hour -
Illegal farming ravages Chai River forest reserve
1 hour -
Christmas should inspire unity and national renewal – Prof Opoku-Agyemang
1 hour -
Ashanti Region: NADMO prioritises preventive measures to reduce road carnage
1 hour -
Mahama pledges reset, growth and jobs for all Ghanaians in Christmas message
1 hour -
13 inmates at Nsawam Prison granted bail under the Justice For All Programme
2 hours -
We invited a man into our home at Christmas and he stayed with us for 45 years
2 hours -
From uncertainty to clarity: Ghana draws the line on digital assets
2 hours -
23% of Ghanaians battling Insufficient Food Consumption – AGRA Report
2 hours -
Average price of food commodities drops by 32% over last one year – AGRA Food Security Monitor Report
2 hours -
Stampede claims life at Asake concert in Kenya
2 hours