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
-
Oranges, sardines and eggs could help protect people exposed to air pollution, Ghana study finds
2 hours -
Private security firms acting as political militias risk licence revocation, prosecution – National Security Coordinator
3 hours -
Antoine Semenyo makes history as first Ghanaian named in PFA Team of the Year
3 hours -
Mahama calls for responsive healthcare regulation to improve patient safety
4 hours -
IERPP accuses GoldBod of breaching transparency law, says quarterly trading reports removed from website
4 hours -
Future of Energy Conference: Africa cannot industrialise in the dark – ECOWAS Bank President
4 hours -
Help comes to Alajo as DirectAid brings relief items to flood victims
4 hours -
“Somebody created the loss” – Haruna Mohammed backs Minority’s call for GoldBod probe
4 hours -
Hope for agroecological farmers: Scientific Research supports urine-based weed management as safer alternative to glyphosate
4 hours -
Israeli Film Festival returns to Accra with free screenings to boost cultural exchange
4 hours -
SONABEL considers opening Bagré Dam spillway on Friday amid rising water levels
4 hours -
Ghana Maritime Authority, Humanity First commission 4 boreholes in Wa to end water scarcity and keep children in class
5 hours -
In Photos: Day Two of ‘SYPALA 2026’ focuses on governance, economic freedom and youth leadership
5 hours -
Wontumi withdraws from NPP chairmanship race, urges support for Bawumia
5 hours -
UCC-IEPA, CEGRAD launches free digital skills programme to empower 1,000 women in education
5 hours