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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 giscentre.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 giscentre.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 giscentre.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

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