Accra, Ghana

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Forex Rate

Banks base rate drop marginally in January

Ghana Cedi

The interest rate at which commercial banks lend to their customers has dropped to 25.6% in January 2018 .

This represents a 0.1 percent change from the previously recorded 25.7 percent in December 2107.

The base rate is the lowest rate at which a bank would lend to its customers.

According to the Bank of Ghana’s Annual Percentage Rates (APR) and Average Interest (AI) report, Premium Bank tops with its base rate at 34.3 percent

This is however an increase from the previously recorded 34.2 percent.

At the second position is Unibank with 33.7 percent base rate.

The Royal Bank occupies the third position with a base rate of 32.9 percent.

The fourth and fifth positions are occupied by Sovereign Bank and Heritage Bank.

Their base rates are 32.2 and 29.5 percent respectively.

At the 6th    position is OmniBank with a base rate of 29.3 percent

The 7th, position is occupied by United Bank for Africa and Energy Bank

The 8th and 9th and 10th positions are occupied by National Investment Bank, FBN Bank Ghana and CAL Bank  with base rates at 27.8, 27.6 ,  and 27.1 percent.

The eleventh position is occupied by HFC Bank and BSIC Bank with a base rate of 26.3 percent.

Prudential Bank and Bank of Africa occupy the twelfth position with a base rate of 26.1 percent.

The thirteenth, fourteenth and fifteenth positions are occupied by Ecobank, Universal Merchant Bank and Access Bank with base rates of 26.0, 25.9 and 25.8 percent base rates.

While First Atlantic Bank occupies the sixteenth position with a base rate of 25.2 percent.

Occupying the 17th to 20th positions are Guaranty Trust Bank, GN Bank, GCB Bank and ADB Bank.

Their interest is at 24.8, 23.9, 23.8 and 22.9 percent respectively.

At the 21st position is Bank of Baroda with a base rate of  22.0 percent.

First National Bank both occupies the 22nd position with a base rate at 21.5 percent.

While the 23rd position is occupied by Zenith Bank and Fidelity Bank

The 24th and 25th positions are Societe General and Stanbic Bank with base rates of 18.9 and 18.4 percent.

Also, with, 18.2 and 18.1 are Standard Chartered Bank and Barclays Bank, with the 26th and 27th positions.

In all, thirty one banks were surveyed.

By: Anita Arthur/



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