Bank of Ghana Here are the banks with the best deposit rates in Ghana

According the Annual Percentage Rates (APR) and Average Interest (AI) released by the Bank of Ghana Sovereign Bank offers a 19.5 percent interest rate on deposits.

  • Published: , Refreshed:
24/7 Live - Subscribe to the Pulse Newsletter!

Sovereign Bank has been named as the bank with the highest interest on customer deposit.

This is according the Annual Percentage Rates (APR) and Average Interest (AI) released by the Bank of Ghana.

The report indicated that Sovereign Bank offers a 19.5 percent interest rate on deposits. This is higher than the industry average of 11.9 percent as at the end of January 2017.

READ ALSO: We will address import challenges – Nana Addo

The second bank with the best rate is Capital Bank with 18.7 percent.

Stanbic Bank, OmniBank, Unibank, First National Bank followed as third, fourth and fifth with 16.8, 15.8 and 14.1 percent respectively.

GN Bank occupied the sixth position with 14.0 percent; followed by First Atlantic Bank with 13.7 percent.

READ ALSO: Chamber of Mines decries low investment in mining communities

The eighth, ninth and tenth positions were occupied by Access Bank, UT Bank and Fidelity bank with 13.6, 13.3 and 13 percent respectively.

UBA, Bank of Baroda and Barclays Bank placed 11th, 12th and 13th with interest rates of 12.9, 12.7 and 12.4 percent respectively.

The governor of the Bank of Ghana (BoG) Dr Abdul Nashiru Issahaku play

The governor of the Bank of Ghana (BoG) Dr Abdul Nashiru Issahaku

 

Meanwhile, at the 14th, 15th, 16th and 17th positions are the Royal Bank, NIB, Bank of Africa, Zenith Bank, Sahel-Sahara and Prudential Bank Limited with 12.3, 12,11.9 and 10.8 percent in that order.

READ ALSO: Gov’t halts issuance of Ghc700m 3-yr bond

From the bottom, Standard Chartered Bank has the lowest interest on customer deposits. The Bank gives 4.3 percent interest rate on deposits.

Energy Bank precedes them with a 5.7 percent rate, ADB and GT Bank placed 29th and 28th with 6.7 and 7.3 percent respectively.

Other banks offering lower than the industry average include; Societe General, HFC, FBN Bank and GCB Bank with 10.6, 10.2, 10 and 9.6 percent respectively.

The remaining are UMB and Ecobank with 9.5 and 8.4 percent respectively.

Do you ever witness news or have a story that should be featured on Pulse Ghana?
Submit your stories, pictures and videos to us now via WhatsApp: +233507713497, Social Media @pulseghana: #PulseEyewitness & DM or Email: eyewitness@pulse.com.gh.

Recommended Articles

Recommended Videos




Top Articles

1 Nana Appiah Mensah Menzgold boss dares BoG to prove deposit allegationsbullet
2 Nana Appiah Mensah Menzgold to open a new branch in Spainbullet
3 $89m Kelni GVG Deal Here's the full contract between Ghana And Kelni GVGbullet
4 Menzgold Ghana Don't deposit money with Menzgold – BoG cautions...bullet
5 $89m Kelni GVG Deal Nana Addo must order Ursula Owusu to step...bullet
6 Petroleum Operators Strike Be calm; there’s no gas shortage –...bullet
7 NaBCo Here's what you need to apply for the Nation Builders...bullet
8 Menzgold Ghana Investment company closes down its Gold...bullet
9 $179m KelniGVG Deal GVGKelni registered to import...bullet
10 Royal Wedding Here's how the cost of Meghan's wedding...bullet

Top Videos

1 Forbes 2018 Africa's billionaires rich listbullet
2 Money Alert Meet Africa's richest womanbullet
3 New Discovery Ghana discovers new mineral, lithium in commercial...bullet
4 Dr Joseph Siaw Agyepong Nobody can collapse my company – JOSPONGbullet
5 Plane Crash Starbow suspends operations following plane crashbullet
6 Support Finance minister buys Kantanka carbullet
7 New Phone Nokia’s MWC 2018 Event in Under 10 Minutesbullet
8 New Phones Nokia MWC 2018 Event in 5 minutesbullet
9 Entrepreneurship How to be resourceful as an entrepreneurbullet
10 Tech 6 reasons you should buy an iPhone SE instead of...bullet

Business