When it comes to finding the best personal loans in Ghana, several banks stand out for their competitive rates, flexible terms, and customer-friendly policies. If you’re in need of financial assistance for personal projects, emergencies, or debt consolidation, the following banks offer some of the best personal loan deals in the country C
1. Cal Bank
Cal Bank is renowned for its customer-centric loan products designed to meet diverse needs. Here’s why Cal Bank’s personal loans are a top choice
Interest Rates: Cal Bank offers interest rates between 26% and 29%. The rate depends on whether the borrower is a salary earner or a general business person with non-salary earners typically facing higher rates due to increased risk.
Flexible Repayment Terms: With Cal Bank, borrowers can enjoy extended repayment periods allowing for lower monthly payments that fit within your budget.
Quick Processing: The bank prides itself on its fast loan approval process ensuring that you get the funds you need promptly.
Top-Up Options: Cal Bank offers the flexibility to top up your loan if you need additional funds without having to take out a new loan.
2. ABSA Bank
ABSA Bank, a leading financial institution in Ghana also provides excellent personal loan options tailored to your financial needs. Here’s what makes ABSA Bank’s personal loans stand out:
Interest Rates: ABSA Bank offers competitive interest rates ranging from 24% to 27%, with salary earners typically enjoying the lower end of the spectrum.
Discounts and Incentives: The bank frequently offers promotional rates and discounts for loyal customers and special occasions further reducing borrowing costs.
Extended Repayment Periods: ABSA provides flexible repayment terms up to 60 months, ensuring that you can repay your loan at a comfortable pace.
Top-Up Facility: ABSA allows existing loan customers to apply for additional funds, providing a seamless top-up process.
3. Agricultural Development Bank (ADB)
The Agricultural Development Bank is well-known for supporting both agricultural and personal financial needs. Here’s why ADB is a great option for personal loans:
Interest Rates: ADB offers interest rates between 25% and 30%. Non-salary earners may face higher rates compared to salary earners due to higher perceived risk.
Repayment Flexibility: With repayment terms that can extend up to 48 months, ADB ensures that you have ample time to repay your loan without stress.
Quick Disbursement: ADB is committed to quick loan processing and disbursement, ensuring that you receive your funds when you need them.
Top-Up Options: Borrowers can easily top up their loans, providing additional financial support without the hassle of new applications.
4. Zenith Bank
Zenith Bank’s personal loan products are designed with customer convenience in mind. Here’s why you should consider Zenith Bank for your personal loan needs:
Interest Rates: Zenith Bank offers favorable interest rates between 23% and 28%, with lower rates typically available to salary earners.
Flexible Repayment Terms: The bank provides flexible repayment plans that can be tailored to your financial situation, with terms extending up to 60 months.
Quick and Efficient Service: Zenith Bank is known for its efficient service and quick loan processing times, ensuring that you get access to funds swiftly.
Top-Up Facility: The option to top up your existing loan adds convenience, allowing you to access additional funds without starting a new application process.
5. FBN Bank
FBN Bank Ghana, a subsidiary of First Bank of Nigeria offers attractive personal loan products designed to meet various financial needs. Here’s why FBN Bank is a top contender:
Interest Rates: FBN Bank offers competitive interest rates ranging from 23% to 29%. The specific rate can depend on the borrower’s employment status with non-salary earners generally facing higher rates.
Flexible Repayment Plans: With repayment periods extending up to 48 months, FBN Bank makes it easy to manage your loan repayments.
Prompt Loan Approval: The bank is known for its prompt loan approval and disbursement processes, ensuring that you can access funds quickly.
Top-Up Facility: FBN Bank allows for easy loan top-ups, providing flexibility if you need more funds after your initial loan.
