Top 10 banks offering the most competitive loan rates as borrowing costs decline

Borrowers are finally catching a break as the interest on loans by banks is falling from its historic high 50% levels to a more manageable range of 20% to 40% according to newly released data from the Bank of Ghana.

The June 2025 Annualised Percentage Rates (APR) report is a shift in credit conditions for households, small businesses and corporates that have been contending with prohibitively high borrowing costs.

Across one-year, three-year, and five-year loan tenors, rates have cooled considerably, with several banks emerging as clear leaders in pricing competitiveness.

APR figures though indicative, capture the true cost of borrowing, including fees, charges and risk premiums.

They reflect both the influence of the Ghana Reference Rate and lending strategies of individual banks.

The  reduction in rates may serve as a catalyst for consumer spending, private sector investment and economic growth, particularly if financial institutions continue adjusting quickly to the changing cost of capital.

However, the full impact on the economy will depend on the speed and consistency of rate transmission across the banking sector and how lenders manage risk in a still-fragile macroeconomic environment.

Check out the top 10 banks for each loan category and tenor:

HOUSEHOLD LOANS 

One year:

1. Bank of Africa Ghana Limited –  20.22%
2. Guaranty Trust Bank (Ghana) Limited  – 23.72%
3. First Atlantic Bank Limited  – 24.21%
4. Republic Bank (Ghana) PLC – 24.99%
5. GCB Bank Limited – 26.70%
6. United Bank for Africa (Ghana) Limited – 26.95%
7. Access Bank Ghana Plc  – 28.03%
8. CalBank PLC – 28.20%
9. Absa Bank Ghana Limited – 29.34%
10. Societe General Ghana PLC  – 31.15%

Three year: 

1. Republic Bank (Ghana) PLC  – 21.43%
2. Guaranty Trust Bank (Ghana) Limited  – 21.94%
3. Standard Chartered Bank (Ghana) Limited – 22.75%
4. Fidelity Bank Ghana Limited  – 23.73%
5. GCB Bank Limited 23.80  – 24.17%
6. Bank of Africa Ghana Limited – 24.48%
7. Societe General Ghana PLC  – 24.54%
8. Absa Bank Ghana Limited  – 27.42%
9. FBNBank (Ghana) Limited  – 27.80%
10. Access Bank Ghana Plc  – 28.08%

Five year:

1. Republic Bank (Ghana) PLC – 20.70%
2. Guaranty Trust Bank (Ghana) Limited – 20.97%
3. Societe General Ghana PLC –  21.14%
4. Standard Chartered Bank (Ghana) Limited – 21.76%
5. Fidelity Bank Ghana Limited – 22.22%
6. GCB Bank Limited – 23.66%
7. Bank of Africa Ghana Limited – 23.74%
8. Access Bank Ghana Plc –  26.98%
9. Absa Bank Ghana Limited – 27.13%
10. Zenith Bank (Ghana) Limited –  29.01%

SME LOANS 

One year:

1. Absa Bank Ghana Limited – 17.03%
2. Universal Merchant Bank Limited – 25.99%
3. CalBank PLC –  27.64%
4. Zenith Bank (Ghana) Limited –  30.74%
5. First Atlantic Bank Limited –  30.84%
6. OmniBSIC Bank Ghana Limited  – 30.93%
7. Access Bank Ghana Plc – 31.05%
8. Societe General Ghana PLC – 31.08%
9. GCB Bank Limited –  31.90%
10. Republic Bank (Ghana) –  32.18%

Three year:

1. United Bank for Africa (Ghana) Limited – 33.24
2. Fidelity Bank Ghana Limited  – 34.44
3. Republic Bank (Ghana) PLC – 28.63
4. Bank of Africa Ghana Limited  – 30.96
5. Universal Merchant Bank Limited – 31.09
6. GCB Bank Limited – 31.23
7. Agricultural Development Bank Limited – 31.43
8. Prudential Bank Limited  – 31.80
9. Consolidated Bank Ghana Limited  – 32.44
10. FBNBank (Ghana) Limited – 32.74

Five year: 

1. United Bank for Africa (Ghana) – 36.29%

2. Fidelity Bank Ghana Limited – 30.93%

3. Bank of Africa Ghana Limited – 23.37%

4. Republic Bank (Ghana) – 27.92%

5. First Atlantic Bank Limited – 30.05%

6. Access Bank Ghana Plc – 31.38%

7. Zenith Bank (Ghana) Limited – 32.67%

8 Stanbic Bank Ghana Limited – 34.66%

9. Ecobank Ghana Limited – 35.42%

10. Agricultural Development Bank Limited – 45.92%

CORPORATE LOANS 

One-year

1. Universal Merchant Bank Limited – 23.49%
2. Standard Chartered Bank (Ghana) Limited  – 23.76%
3. Absa Bank Ghana Limited  – 25.99%
4. Societe General Ghana PLC  – 26.22%
5. GCB Bank Limited  – 26.40%
6. Access Bank Ghana Plc  – 27.27%
7. First Atlantic Bank Limited  – 27.46%
8. Stanbic Bank Ghana Limited  – 28.02%
9. Prudential Bank Limited  – 28.43%
10. OmniBSIC Bank Ghana Limited – 29.48%

Three-year 

1. Fidelity Bank Ghana Limited  – 21.14%
2. Standard Chartered Bank (Ghana) Limited  – 23.99%
3. Societe General Ghana PLC  – 23.99%
4. GCB Bank Limited  – 25.73%
5. FBNBank (Ghana) Limited  – 26.79%
6. Republic Bank (Ghana) PLC – 28.95%
7. Stanbic Bank Ghana Limited – 29.15%
8. Access Bank Ghana Plc – 29.67%
9. United Bank for Africa (Ghana) Limited – 29.92%
10. Zenith Bank (Ghana) Limited – 31.16%

Five-year

1. GCB Bank Limited – 25.60%
2. Access Bank Ghana Plc – 25.69%
3. Agricultural Development Bank Limited – 26.21%
4. Societe General Ghana PLC –  26.99%
5. Stanbic Bank Ghana Limited –  27.02%
6. FBNBank (Ghana) Limited – 27.68%
7. Republic Bank (Ghana) PLC – 28.47%
8. Fidelity Bank Ghana Limited –  29.52%
9. Zenith Bank (Ghana) Limited – 30.48%
10. Ecobank Ghana Limited – 33.70%