Standard Chartered Bank offers the lowest rate on individual loans – BoG
Standard Chartered Bank Ghana
According to the Bank of Ghana’s Annualized Percentage Rate report, Standard Chartered Bank Ghana emerges as the provider of the most affordable loans for both individuals and businesses in the country.
Read full articleThe report reveals that Standard Chartered Bank Ghana offers Ghanaians notably low average interest rates, with 29.07% for 1-year loans, surpassing the common reference rate of 30.45% for all banks nationwide. The bank maintains its competitive edge even for longer-term loans, boasting the lowest rates of 25.83% for both 3-year and 5-year individual loans.
Access to affordable loans remains a challenge for many in Ghana, making Standard Chartered Bank Ghana's offerings a welcome relief for individuals in need of short-term financial assistance.
Yvonne Gyebi, Head of Wealth and Retail Banking, reiterated the bank's dedication to providing accessible and affordable financing solutions tailored to the needs of its clients and the broader Ghanaian community, as reflected in the report.
In line with their commitment to innovation and inclusivity, Standard Chartered Bank Ghana has introduced a renewable energy loan to support individuals and businesses embracing sustainable energy solutions. This initiative aims to make renewable energy, particularly solar energy, more accessible to the public, offering competitive interest rates and flexible repayment terms.
The bank also emphasizes providing expert guidance throughout the loan application process, ensuring a seamless experience for its clients and customers.
By prioritizing accessibility and affordability, Standard Chartered Bank Ghana plays a pivotal role in advancing financial inclusion and driving economic growth, empowering Ghanaians to pursue their goals and seize opportunities with confidence amidst evolving financial landscapes.
