The two banks with the lowest interest rates for personal loans were Republic Bank and Bank of Africa – BoG.

Republic Bank and Bank of Africa had the lowest interest rates on personal loans, according to data made public by the Bank of Ghana.

All 23 of Ghana’s banks were included in the Bank of Ghana report’s Annualized Percentage Rates (APR) through June 2025.

According to the research, Republic Bank offered an interest rate of 21.43 percent for a three-year period, while Bank of Africa gave an interest rate of 20.22 percent for a one-year period.

When economic agents go through the approval procedure to obtain a lending facility, they are presented with the actual cost of a loan, which is reflected in the APR.

It includes several bank-specific fees, the Ghana Reference Rate, and a risk premium unique to each bank.

Source: newsthemegh.com