7 banks with the lowest household loan rates – BoG APR report

The Bank of Ghana’s June 2025 Annualised Percentage Rates (APR) report shows that some banks are offering significantly lower borrowing costs for households than others.

The figures cover one-year household loans and include all fees and charges.

• Bank of Africa Ghana Limited – 10%

Bank of Africa recorded the lowest lending rate, making it the most affordable option for household borrowers.

•United Bank for Africa (Ghana) Limited - 18%

• Republic Bank Ghana PLC – 19.80%

• Guaranty Trust Bank (Ghana) Limited - 20%

• Fidelity Bank Ghana Limited - 22.50%

• Societe Generale Ghana PLC – 24.17%

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• Consolidated Bank Ghana Limited – 31.29%

• Stanbic Bank Ghana Limited – 29.99%

• FBNBank Ghana Limited – 26.56%

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• Absa Bank Ghana Limited – 25.96%

The Bank of Ghana report highlights the significant differences in borrowing costs across banks, underlining the importance for consumers to compare rates before taking household loans.

See the full list of 23 banks and their rates below

DR/MA

Meanwhile, watch the trailer to GhanaWeb’s yet-to-air documentary on teenage girls and how fish are stealing their futures below: