Interest on Individual Loans Falls from 50% Peak to 20–40% Range

Interest rates on loans in Ghana have dropped sharply, easing from the 50% levels recorded earlier this year to between 20% and 40%, bringing much-needed relief to households, SMEs, and corporates.

According to June 2025 Annualised Percentage Rate (APR) data from the Bank of Ghana, borrowers who previously paid over 50% for one-, three-, and five-year tenors now face rates between 20% and 42%. The shift reflects a broader easing in credit conditions.

One-Year Tenor:

• Lowest: Bank of Africa – 20.22%, Guaranty Trust Bank – 23.72%, First Atlantic Bank – 24.21%, Republic Bank – 24.99%, GCB Bank – 26.70%
• Highest: Prudential Bank – 42.24%

Three-Year Tenor:

• Lowest: Republic Bank – 21.43%, Guaranty Trust Bank – 21.94%, Standard Chartered Bank – 22.75%
• Highest: CalBank – 39.63%

Five-Year Tenor:

• Lowest: Republic Bank – 20.70%, Guaranty Trust Bank – 20.97%, Société Générale – 21.14%
• Others: Standard Chartered – 21.76%, Fidelity Bank – 22.22%

The APR measures the true cost of borrowing, factoring in the Ghana Reference Rate, risk premiums, and bank charges. Analysts say the rate cuts could boost private sector investment and consumer spending, depending on how quickly banks adjust their lending terms.