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
-
2026 Commonwealth Games: Zinabu Issah wins Ghana’s first medal
35 minutes -
Rogers and Palmer can play together – Alonso
57 minutes -
Diomande agrees Real Madrid terms as PSG step away
1 hour -
Inter in advanced talks with England defender Stones
1 hour -
Chelsea open talks to sign Henderson and Welbeck
1 hour -
Ex-convict jailed for unlawful entry and stealing
2 hours -
Unemployed gets 12 years jail term for robbing a traderÂ
2 hours -
AG hauls former N.N. Est, M.N.D. Metals General Manager to court over alleged $280,000 theft Â
2 hours -
Interior Ministry inaugurates new Audit Committee to strengthen accountability
2 hours -
IMF describes Ghana’s ECF programme as broadly satisfactorily
2 hours -
Christians urged to embrace spiritual authority, become agents of transformation in society
2 hours -
Fuel price hikes driven by international trends, not OMC margins — COMAC
2 hours -
NPP can’t be equated to the NDC in any way – Eric Adjei
2 hours -
IMF Board completes 6th and final review of ECF programme, describes PCI as anchor to reform agenda
3 hours -
Cracker Barrel chief executive steps down a year after rebrand chaos
3 hours