Tag: vehicle loans
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Interest rates on auto loans rise to 32.9%
The average interest rate for vehicle loans among commercial banks for August increased to 32.9 percent as against the 31.1 percent recorded in July 2017, the Bank of Ghana’s latest Annual Percentage Rates (APR) and Average Interest (AI) report has revealed. The APR and AI report shows that Unibank still offers the highest rate on…
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Banks’ interests on car loans drop to 31.1 % in June
The latest Annual Percentage Rates (APR) and Average Interest (AI) report by the Bank of Ghana shows that Unibank offers the highest rate on vehicle loans. Its rate on your car loan is 39.8 percent. The report, however, stated that Bank of Baroda’s rate between 22 and 28 percent is least among banks that offer…
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Average interest on car loans hits 35%
The average interest on vehicle loans offered by commercial banks has reached 35 percent as at the end of February this year; the latest Annual Percentage Rate (APR) report by the Bank of Ghana has shown. This represents 2 percent increase compared to the 34.3% recorded as at the end of January 2017. The Annual…