UMB tops Bank of Ghana’s 2024 APR report with highest one-year loan rate to households at 55.98%

Universal Merchant Bank (UMB) offers the highest one-year loan interest rate to households in Ghana at 55.98%, according to the Bank of Ghana's 2024 report on Annualized Percentage Rates (APRs).

Fidelity Bank follows at 49.92%, and National Investment Bank (NIB) at 44.22%. On the lower end, Bank of Africa Ghana provides the most competitive rate at 24.82%, with Societe Generale at 31.96% and Consolidated Bank Ghana at 31.99%.

The APR includes the Ghana Reference Rate, risk premiums, and fees, and may vary based on the borrower’s creditworthiness.