Interest rates of banks in Ghana

The table below shows the various interest rates commercial banks pay on deposits or charge on loans. Published by the Bank of Ghana, these are updated rates as of 31st May, 2017. To download the full file in PDF, click on this link: Banks’ APR and Average Interest Rates on Deposits.

Note:

Average interest rate on deposits is the average interest paid by banks on deposits over the period.

Base rate reflects the minimum interest rate that can be charged on loans and advances.

APR (annual percentage rate) is the true interest rate financial institutions charge the public on loans and advances. It indicates the true cost of borrowings and includes charges and commissions levied by banks.

banks interest rates May 2017

See also: Percentage rates of investments: Interpreting them correctly