When it comes to managing your finances, one of the most crucial factors to consider is the interest rate offered by banks. Here in Ghana, a variety of banks offer competitive interest rates. Based on research, we have been able to identify the following banks as banks with the lowest interest rates in Ghana
GCB Bank Limited
GCB Bank Limited offers competitive loan rates with annual interest rates starting from around 20% to 25% depending on the type of loan. Their rates on salary loans are as low as 20% whiles Business loans are pegged around 25%. They provide various loan products including personal loans, mortgage loans, and business loans. Their interest rates are some of the lowest on the market. It is no wonder they keep increasing their customer base without intensive marketing.
Ecobank Ghana
Ecobank Ghana is known for its customer-friendly loan policies. They offer personal loans, vehicle loans, and business loans with attractive interest rates up to 26% per annum. The rates on Salary loans is around 23%. Rates on their business loans is 28% per annum. Their flexible repayment options are an added advantage.
Stanbic Bank Ghana
Stanbic Bank Ghana offers low-interest rates on a range of loan products typically between 22% and 25% per annum. From personal loans to business financing, their competitive rates and excellent customer service make them a strong contender. Salary customers enjoy 22% whereas business loans are offered at 25% per annum.
Standard Chartered Bank Ghana
Standard Chartered Bank provides a variety of loan options with some of the lowest interest rates in Ghana. Their interest rate which is 27% per annum is very competitive on the market. Their quick approval process and flexible terms are particularly appealing to many customers.
Absa Bank Ghana
Absa Bank Ghana offers attractive interest rates on personal and business loans, with rates between 22% and 26% per annum. Absa offers rates of 22% and 26% per annum to salary customers and businesses respectively. This makes them as one of the banks in bank with very competitive loan interest rate in the country.
Top Banks with Lowest Interest Rates for Savings
While saving money, it’s important to choose a bank that offers high-interest rates on savings accounts. Here are some banks that offer the best rates:
Fidelity Bank Ghana
Fidelity Bank Ghana offers competitive interest rates on savings accounts, typically around 7% to 10% per annum. They have a variety of savings products tailored to meet different needs, ensuring your money grows effectively.
Zenith Bank Ghana
Zenith Bank is another excellent choice for savers, offering attractive rates on savings accounts and fixed deposits, usually between 8% and 11% per annum, helping you maximize your returns.
Republic Bank Ghana
Republic Bank Ghana provides some of the best interest rates on savings accounts, ranging from 7% to 10% per annum. Their diverse range of savings products and customer-friendly policies make them a preferred choice.
