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
-
Amb. Dr Samuel Ben Owusu calls for urgent action on Ghana’s water security
2 minutes -
Pan Africa AU Agenda 2063 Mission, IAWPA hold Africa Day Leadership Summit in Accra
5 minutes -
Akatsi North MP calls for more teacher recruitment as district commissions new projects
7 minutes -
Paternity Fraud Laws in Ghana: A balanced alternative to Compulsory Paternity Testing at Birth
19 minutes -
Flooding in Accra: Over 30 Years of Doing Nothing
40 minutes -
TI Ghana, GIPC intensify media campaign against fronting in business sector
41 minutes -
“I suffered beatings, look at my marks” – Evacuated Ghanaian recounts alleged xenophobic attack in South Africa
1 hour -
Afanyi Dadzie Writes: Xenophobia, illegal migration and the hard truths we must face as Ghanaians
1 hour -
The NPP can only secure victory in 2028 with the right leadership choices at every level of the party
2 hours -
When Memory Dies: South Africa’s Convenient Amnesia
2 hours -
MTN Ghana urges women to prioritise emotional wellness at Mmaa Nkomo event
2 hours -
We will always stand by Ghanaians everywhere — Chief of Staff assures evacuees from South Africa
2 hours -
“Don’t mess around with Ghanaians anywhere in the world” — Ablakwa warns
2 hours -
KetaFC alleges bias and interference in Volta Regional Middle League protest
2 hours -
Gov’t will always protect and support Ghanaians abroad – Ablakwa
3 hours