The Ghana Interbank Payment and Settlement Systems Limited (GhIPSS) is a wholly owned subsidiary of the Bank of Ghana. The interest rate offered by the National Investment Bank of Ghana (NIB) stands at 11.4 per cent based on the amount to be fixed and the maturity date. The interest rate of the bank stands at 30.50%; The Ghana Commercial Bank – this is the largest of the indigenous banks in Ghana. The Bank has also granted a two-month moratorium … If you need to place a deposit for a short period of time at a higher interest rate, Call Deposits are the best option for you. Deposit balances below … The interest rate indicated is for a deposit balance above 500,000.00 to 999,999.99 for this 2 year/24month term. He was sworn in … The bank has also granted a two-month moratorium on both the principal and interest repayment on personal loans. Gateway Bank’s interest rates See our latest interest rates for savings accounts, money market accounts, CDs, and IRAs. GCB Bank has reduced interest rates on personal loans from 26 per cent to 24 per cent per annum with immediate effect. In consideration of the Bank agreeing to grant me a Personal Loan, I hereby authgorise you to pay my net monthly salary while in the service of your establishment in to Account Number ..... with GCB Bank … Personal Money Market. While Access Bank occupies the 15th position with their interest rate at 9.8 percent. 0 ** Disclaimer: This is not a solicitation to buy securities in Ghana, but a calculation of potentential gains at selected rates of return. The measures form part of extensive efforts by the bank to lessen the impact of the new coronavirus (COVID-19) pandemic on its ADB 2 Year Fixed Deposit. View the latest Ghana Commercial Bank Ltd. (GCB) stock price, news, historical charts, analyst ratings and financial information from WSJ. Commercial Bank, the only Sri Lankan Bank among the top 1000 Banks worldwide is known as the benchmark private sector bank in Sri Lanka. GCB Bank has reduced interest rates on personal loans from 26 percent to 24 percent per annum with immediate effect. All rates and annual percentage yields (APY) are accurate as of January 4, 2020. The bank has also granted a two-month moratorium for both the principal and interest repayment on personal loans. With a base rate of 22.75% down from 26.0% GCB is strengthening its market leadership in the country banking industry where some banks have their base rates as high as 27% and 29%. Please note that these rates are subject to change at any time after your account is opened. Currently GCB’s base rate is pegged at 22.10% per annum while rates within the banking industry are hovering between 25- 35 percent on the average. Personal; This measure forms part of efforts by the Bank to lessen the impact of COVID-19 on its customers and Ghanaians in general. Interest compounded quarterly and credited quarterly. It has over 260 branches in the country. The Liberty House branch of GCB Bank has resumed full-scale banking business operations since Thursday, December 10. Interest rates and annual percentage yields may change according to bank discretion. 0 2 Year FXR Note. Rates are specific to each transaction and may increase based on credit score, loan to value (LTV) and other factors. Premium Interest Checking Rates; Checking Plan Annual Percentage Yield* Interest Rate Minimum to Open Daily Balance; Premium Interest Checking: 0.01%: 0.01%: $50: less than $2,500: Premium Interest Checking: 0.02%: 0.02%: $50: $2,500 or more GCB Bank came in at the 14th position with its interest rate at 10.0 percent. ACCESS Money Market Interest Rate Annual Percentage Yield Interest Paid; $0 - $24,999.99: 0.025%: Earn attractive interest on your daily balance whilst enjoying 24/7 banking and a personalized Naira Mastercard for cash withdrawals and online payments. If you want to save for yourself or your family’s future, open a GCB Savings Account. Term Months Points Rate APR Payment Per $1,000* 30 360 0 2.875% 3.02% $4.15 Annual Percentage Rate (APR) is based on 20% down payment and a credit score > 740. 7. Build your balance with a rewarding and easy to access GCB Savings Account. GCB Bank has reduced interest rates on personal loans from 26 per cent to 24 per cent per annum with immediate effect. GN Bank; GN Bank is an indigenous private bank in Ghana. The bank has also granted a two-month moratorium on both the principal and interest repayment on personal loans. 0 5 Years. One of the local investors is the SSNIT. Agent Services 02 Serve more than just regular customers. 0 3 Years. Reports indicated that GN Bank offers a 19.5 percent interest rate on deposits. Access Bank; Access Bank Ghana Limited is a commercial bank licensed by the Ghanaian Central Bank; the Bank … The interest rate on GCB Bank personal loans has been reduced from 26% to 24% per annum. It was incorporated in May 2007 with a mandate to implement and manage interoperable payment system infrastructures for banks and non bank financial institutions in Ghana. CORPORATE PROFILE GCB Bank Ltd. started in 1953 as the Bank of the Gold Coast to provide banking services to the emerging nation for socio-economic development. GCB Bank has reduced interest rates on personal loans from 26 per cent to 24 per cent per annum with immediate effect. The measures form part of extensive efforts by the bank to lessen the impacts of the new […] This means the GCB Bank is losing 13 per cent per annum interest rate by holding onto this bond. 0 1 Year Note. You can get an interest rate of 9.3% from GCB Bank Ltd depending on the amount and date of maturity. *Only the portion of the account balance within each rate tier earns interest at the rate applicable to that tier. Bank Lending Rate in Ghana decreased to 34.50 percent in May from 35.50 percent in April of 2018. Start earning interest on your balance and watch your savings grow. At rate of . GCB Bank has reduced interest rates on personal loans from 26 per cent to 24 per cent per annum with immediate effect. Ghana - Interest Rate Central Bank decides fourth consecutive hold in November. 3 The applicable Retail Monthly Effective Interest Rate is 2.00% based on a Php 20,000 availment, on the assumption that the Cardholder pays the Minimum Amount Due one (1) day after the Statement Date. Bank Lending Rate in Ghana averaged 29.59 percent from 2005 until 2018, reaching an all time high of 42.84 percent in July of 2016 and a record low of 21.24 percent in March of 2008. Emmanuel Odartey Lamptey has been appointed as the new Deputy Managing Director (DMD) – Operations of GCB Bank by the board. GCB boasts of having the largest network as compared to all the banks in Ghana due to its wide range of branches and ATMs. According to the managing GCB to maintain lending rates - Citi 97.3 FM - Relevant Radio. GCB Bank has reduced interest rates on personal loans from 26 per cent to 24 per cent per annum with immediate effect. 0 182 Day Bill. The RBA has cut the official interest on Tuesday from 0.25% to 0.1%, as widely expected. At its 18–20 November meeting, the Monetary Policy Committee of the Bank of Ghana opted to leave the policy rate unchanged at 14.50%, marking the fourth consecutive hold. The interest rate at the bank stands at 25.05% Zenith Bank of Ghana offers an interest rate of 12.0 per cent on the fixed deposit. What Is the Interest Rate of GCB? The bank has also granted a two … GCB Limited has hinted to Citi Business News that it will not increase its lending rates. What's in it for You 24/7 banking service via our various e-channels GCB is currently the bank with the lowest base rate in the country. The Ghanaian economy with a population of 24.2 Million (Est 2010 - ghana.gov.gh) ranks 81st in the world with a GDP PPP of 64.584 billion and GDP PPP per capita of 3,081 vs 48,147 (United States) according to the IMF in 2011 . Your APR and rate may be different than shown above. 8. A Savings Account can be opened by any individual, entrepreneur, society, club, trader, business or corporation. Occupying the 16th position is Fidelity Bank and Royal Bank with an interest at 9.6 percent. We have detected that you are using an outdated browser. GCB Bank has reduced interest rates on personal loans from 26 per cent to 24 per cent per annum with immediate effect. According to Mr Dornoo, there will be no need to increase the bank’s base rate. “I think that policy rate was expected and banks have already reflected that in their rates. 4 Your actual Retail Monthly Effective Interest Rate is indicated on your Monthly Statement of Account. OR % My Investment Return would be: 91 Day Bill. The management of GCB bank has revealed that, in spite of the 100 basis points increase in the policy rate of the Central Bank, GCB will not increase its lending rates. Customer Service 01 Offer excellent services to your G-Money clients by providing the following client services. Daily Balance determined by the application of a daily periodic rate to the full amount of the principal in the account each day. As expected, the move lower was accompanied by a bigger foray into … Why not be an agent's agent? 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