ANNUAL PERCENTAGE RATES (APR) AND AVERAGE INTEREST(AI) PAID ON DEPOSITS
The Bank of Ghana publishes the following financial institutions' Annual Percentage Rates (APR) and Average Interest (AI) paid on deposits for the information of the public. The publication of these rates is to promote transparency in the pricing and provision of banking services
The table below shows the Annual Percentage Rates ( APR)of the various commercial banks from the highest to the lowest, as at 30th April, 2017.
DEPOSITS | BASE RATE | ||||
Banks | AVERAGE INTEREST RATE | PERCENT | APR* | SPREAD* | APR ON AI* |
Capital Bank | 17.4 | 33.3 | 36.1 | -2.8 | 18.7 |
Access Bank | 16.4 | 27.3 | 30.65 | -3.3 | 14.2 |
The Royal Bank | 15.5 | 35.5 | 38.5 | -3 | 23 |
Bank of Baroda | 15.4 | 17.6 | 26.14286 | -8.5 | 10.7 |
Stanbic | 14.1 | 19 | 25.3 | -6.3 | 11.2 |
First Atlantic | 13.8 | 25 | 38.32 | -13.3 | 24.5 |
UBA | 13.6 | 27.5 | 32 | -4.4 | 18.3 |
GN Bank | 13.2 | 22.2 | 31.2 | -8.9 | 17.9 |
Bank of Africa | 13 | 26.9 | 35.9 | -9 | 22.9 |
Sovereign Bank | 12.9 | 34.1 | 38 | -3.9 | 25.1 |
Fidelity | 12.7 | 23.2 | 34.12 | -10.9 | 21.4 |
Unibank | 12.5 | 39.9 | 37.1 | 2.8 | 24.5 |
Zenith | 11.8 | 23.8 | 29.8 | -6 | 18 |
UT Bank | 11.6 | 30.6 | 33.6 | -3 | 22 |
HFC | 11.4 | 29.7 | 36.3 | -6.5 | 24.8 |
NIB | 11.4 | 30.5 | 37.45 | -6.95 | 26 |
FNB | 11.1 | 23.5 | 23.8 | -0.3 | 12.7 |
Prudential | 10.9 | 26.7 | 33.8 | -7 | 22.8 |
Sahel | 10.9 | 29.5 | 29.5 | 0 | 18.6 |
Barclays | 10.4 | 19.2 | 36 | -16.8 | 25.6 |
UMB | 10.2 | 31.3 | 38.14 | -10.6 | 27.9 |
FBN | 9.8 | 28.4 | 32.2 | -3.7 | 22.3 |
SG Bank | 9.7 | 20.3 | 28.575 | -8.2 | 18.8 |
Ecobank | 9.2 | 25.9 | 28.5 | -2.5 | 19.2 |
CAL Bank | 9 | 28.3 | 35.3 | -7 | 26.3 |
GCB Bank | 8.3 | 25 | 35.4 | -10.4 | 27.1 |
GT Bank | 7.4 | 25.8 | 31.425 | -5.6 | 24 |
ADB | 6.2 | 22.9 | 29.6 | -6.7 | 23.4 |
Energy | 6 | 30.6 | 35.6 | -5 | 29.6 |
StanChart | 3.4 | 16.1 | 27 | -10.9 | 23.6 |
Omnibank | 29.8 | 37.7 | -7.9 | __ | |
INDUSTRY AVERAGE | 11.3 | 26.8 | 33.2 | -6.4 | 21.9 |
* calculated by waxson.org
The table below shows the Annual Percentage Rates ( APR)of the various commercial banks from the highest to the lowest, as at 13th March, 2017.
Banks | Deposits (Average Interest Rate) | Base Rate (Percent) | APR* | SPREAD* | APR ON AI* |
The Royal Bank | 17 | 28.7 | 30.8 | -2.1 | 13.8 |
Sovereign bank | 16.7 | 20.9 | 32.2 | -11.3 | 15.5 |
OMNIBANK | 15.2 | 27.1 | 35.9 | -8.8 | 20.7 |
Stanbic bank | 15.2 | 16.9 | 26.5 | -9.6 | 11.3 |
Bank of Baroda | 14.4 | 19.9 | 35.4 | -15.5 | 21 |
First Atlantic Bank | 14.2 | 28.4 | 35.3 | -6.9 | 21.1 |
GN Bank | 14 | 26 | 29.4 | -13.4 | 15.4 |
Access Bank | 13.8 | 31.6 | 34.1 | -2.5 | 20.3 |
Barclays Bank | 13.8 | 23.6 | 42 | -18.4 | 28.2 |
Bank of Africa | 12.4 | 29.1 | 32.1 | -3 | 19.7 |
Unibank | 12.3 | 33.7 | _ | _ | _ |
First National Bank | 12.1 | 23.4 | 34.1 | -10.7 | 22 |
Zenith Bank | 12.1 | 26.0 | _ | _ | _ |
UT Bank | 12 | 23.3 | 35.4 | -12.1 | 23.4 |
HFC | 11.9 | 23.6 | 30.8 | -7.2 | 18.9 |
UBA | 11.9 | 26.2 | 31.26 | -5.06 | 19.36 |
NIB | 11.4 | 30.1 | 36.2 | -6.1 | 24.8 |
Sahel Sahara (BSIC) | 10.9 | 30.6 | 37.4 | -6.8 | 26.5 |
Fidelity | 10.6 | 30.0 | 37.7 | 7.7 | 27.1 |
Ecobank | 10.4 | 27.6 | 33.7 | -6.1 | 23.3 |
FBN- Ghana | 10.3 | 32.5 | 34.5 | -2 | 24.2 |
SG Bank | 10.1 | 29.8 | _ | _ | _ |
CAL Bank | 9.8 | 16.2 | 28 | -11.8 | 18.2 |
GCB Bank | 9.6 | 20.8 | 28.5 | -7.7 | 18.9 |
PBL | 9.4 | 17.4 | 28.3 | -10.9 | 18.9 |
GT Bank | 7.3 | 35.5 | 38 | -2.5 | 30.7 |
ADB | 6.5 | 27.9 | 31.9 | -4 | 25.4 |
Energy Bank | 6.4 | 30.6 | 39.4 | -8.8 | 33 |
Standard Chartered Bank | 6.04 | 42.1 | 37 | 5.1 | 31 |
Capital Bank | 31 | 33.5 | -2.5 | _ | |
Universal Merchant Bank | 23.6 | 29 | -5.4 | _ | |
INDUSTRY AVERAGE | 11.6 | 26.9 | 33.8 | -6.9 | 22.2 |
* calculated by waxson.org
The table below lists the Average Interest Rates (AI) of the various commercial banks from the highest to the lowest, as at 30th November, 2016.
Banks | Average Interest Rate | Base Rate | APR* | Spread* | APR to AI* |
Capital Bank | 17.90 | 34.30 | 46.10 | -11.80 | 28.20 |
Access Bank | 16.40 | 30.00 | 35.65 | -5.65 | 19.25 |
Sovereign Bank | 16.40 | 27.80 | 29.15 | -1.35 | 12.75 |
Fidelity | 14.90 | 27.30 | 33.50 | -6.20 | 18.60 |
Bank of Baroda | 14.70 | 15.00 | 25.00 | -10.00 | 10.30 |
First National Bank | 14.20 | 28.00 | 35.00 | -7.00 | 20.80 |
Stanbic bank | 14.10 | 22.50 | 30.00 | -7.50 | 15.90 |
Bank of Africa | 14.00 | 27.60 | 36.03 | -8.43 | 22.03 |
GN Bank | 14.00 | 29.20 | 32.00 | -2.80 | 18.00 |
First Atlantic Bank | 13.80 | 25.40 | 42.00 | -16.60 | 28.20 |
UBA | 13.60 | 28.40 | 31.95 | -3.55 | 18.35 |
GT Bank | 12.90 | 25.60 | 31.43 | -5.83 | 18.53 |
Unibank | 12.60 | 45.80 | 45.80 | 0.00 | 33.20 |
The Royal Bank | 12.00 | 38.30 | 39.40 | -1.10 | 27.40 |
NIB | 12.00 | 30.90 | 37.70 | -6.80 | 25.70 |
FBN- Ghana | 11.80 | 26.20 | 32.17 | -5.97 | 20.37 |
Zenith Bank | 11.80 | 24.50 | 30.70 | -6.20 | 18.90 |
UT Bank | 11.60 | 32.10 | 33.20 | -1.10 | 21.60 |
PBL | 10.90 | 30.20 | 33.79 | -3.59 | 22.89 |
HFC | 10.60 | 30.50 | 30.00 | 0.50 | 19.40 |
SG Bank | 10.60 | 22.40 | 28.58 | -6.18 | 17.98 |
Barclays Bank | 10.40 | 21.70 | 38.10 | -16.40 | 27.70 |
Sahel Sahara (BSIC) | 9.70 | 34.90 | 38.20 | -3.30 | 28.50 |
CAL Bank | 9.00 | 28.50 | 30.26 | -1.76 | 21.26 |
Ecobank | 8.50 | 25.90 | 30.07 | -4.17 | 21.57 |
GCB Bank | 8.30 | 26.00 | 31.00 | -5.00 | 22.70 |
Universal Merchant Bank | 7.90 | 33.70 | 40.67 | -6.97 | 32.77 |
ADB | 6.20 | 24.80 | 32.61 | -7.81 | 26.41 |
Energy Bank | 6.00 | 29.10 | 34.10 | -5.00 | 28.10 |
Standard Chartered Bank | 3.60 | 18.80 | 35.40 | -16.60 | 31.80 |
INDUSTRY AVERAGE | 11.70 | 28.00 | 34.32 | -6.14 | 22.64 |
* calculated by waxson.org
NOTE:
The APR is the true interest rate banks and non-bank financial institutions charge the public on loans and advances. It reflects the true cost of borrowings and includes charges and commissions levied by banks.
Average Interest is the 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*- this represents the average of interest rates a bank charges the various subsectors or segments of the public.
Spread*- This represents the difference between a bank’s APR* and its Base Rate.
APR on AI*- This shows the difference between a bank’s APR* and its AI.
These rates are also available on the Bank of Ghana website, www.bog.gov.gh