Information launched by the Financial institution of Ghana has revealed that Republic Financial institution and Financial institution of Africa present the bottom rates of interest on loans for people.
In its Annualized Share Charges (APR) ending June 2025, the Financial institution of Ghana report captured all 23 banks within the nation.
The report confirmed that Financial institution of Africa supplied an rate of interest of 20.22 % for its one 12 months tenor whereas Republic Financial institution supplied an rate of interest of 21.43 % for its three 12 months interval.
The APR displays the true value of a mortgage that financial brokers are confronted with after they undergo an approval course of to safe a mortgage facility. It includes the Ghana Reference Charge, financial institution particular risk-premia and different bank-specific prices.
“The APRs reported on this desk are indicative. A typical buyer of a financial institution could also be confronted with an precise APR totally different from these indicative APRs, relying on the financial institution’s evaluation of the borrower’s particular circumstance”, the assertion from the BoG mentioned.
Beneath is the total report
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