An interest rate is the amount of interest due per period, as a proportion of the amount lent, deposited, or borrowed. The total interest on an amount lent or borrowed depends on the principal sum, the interest rate, the compounding frequency, and the length of time over which it is lent, deposited or borrowed.
Interest Rates February 2023
| Description | Interest (% pa) | Effective Date | |
|---|---|---|---|
| 1 | Ghana Reference Rate | 13.80 (+ Margin) | 01st March, 2021 |
| 2 | Savings | 0.25- 3.00 | 01st March, 2021 |
| 3 | Call | 0 – 6.50 | 01st March, 2021 |
Fixed Deposits February 2023
| Tier (GHS) | 30-days | 60-days | 91-days | 182-days | 365-days | 728 days |
|---|---|---|---|---|---|---|
| 10 – 25k | 7.00 | 7.50 | 9.00 | 11.00 | 12.50 | 12.75 |
| >25 – 50k | 8.00 | 8.50 | 10.00 | 11.50 | 13.00 | 13.25 |
| >50 – 100k | 9.00 | 9.50 | 11.00 | 12.00 | 13.50 | 13.75 |
| >100 – 500k | 10.00 | 10.50 | 12.00 | 12.50 | 13.75 | 14.25 |
| >500k- 1m | 11.00 | 11.50 | 12.50 | 13.00 | 14.00 | 14.50 |
| Above 1m | 12.00 | 12.50 | 13.50 | 14.00 | 14.50 | 15.00 |
Daily Indicative Exchange Rates February 2023
| Currency | Code | Remittances | Cash Rates | ||
|---|---|---|---|---|---|
| Bank Buy (GHc) | Bank Sell(GHc) | Bank Buy (GHc) | Bank Sell(GHc) | ||
| United States Dollars | USD | 8.7200 | 9.5200 | 8.7200 | 9.6800 |
| Great Britain Pound | GBP | 10.5700 | 11.6500 | 10.5700 | 11.7800 |
| Euro | EUR | 8.8800 | 9.7800 | 8.8800 | 9.8800 |