The newestThe current Yearly Percent Rates (APR) and also Ordinary Rate of interest (AI) record by the Bank of Ghana has revealed that Unibank still leads as the financial institution with the most expensive rate on car lendings.
For 3 consecutive times, Unibank’s rate on your vehicle lending has struck 45.5 percent from the 40.8 to 45.8 percent as at August in 2014.
The rate is greater than the sector average of 34.3 percent.
The record however mentioned that though Standard Chartered Financial institution supplied the lowestthe most affordable automobile lending of 18 percent, the rate can however go as high as 33 percent depending on other factors.
Of the twenty-one banks that supply vehicle car loans to customers, Unibank’s 45 percent was the greatest. This is the third successive time the indigenous bank is leading with the most costly prices. It is right away come before by First Atlantic Financial institution, GCB Bank and OmniBank with automobile car loans of 43.6, 40.3 and also 37.9 percent specifically.
Sahel Sahara Bank, HFC Bank and Financial institution of Africa put 17th, 16th and 15th with 37.6, 36.7 and also 36.6 percent in that order.
At the 14th as well as 13th placements are the Royal Financial institution and also CAL Bank with passion pricesrates of interest on car loansvehicle loan at 35.5 to 40.5 and 35.3 percent respectively.
Prudential Bank, Ecobank, ADB and Barclays Financial institution offer lorry lendings at a rate of 33.6, 34.1, 35.1 and also 35.1 to 39.1 percent respectively.
Nevertheless the most affordable price for vehicle lendings is provided by Standard Chartered Financial institution The cheapest price for car finances is provided by Criterion Chartered Financial institution.
Though its rate is 18 percent, it might charge as high as 33 percent depending upon danger as well as other aspects.
rate is 18 percent, it might charge as much as 33 percent depending on risk and various other variables.
This is complied with by Financial institution of Baroda with 24.5 to 28.8 percent.
Zenith Bank, Stanbic Financial institution and GN Bank can be found in with 3rd, 4th and 5th cheapest rate of interests on car loansvehicle loan at 29, 29.4 and also 32 percent specifically.
Other banks with car car loans equal or less compared to the market average are UT Bank, FBN Bank and also UBA with 32.2, 32.8 and 32.9 percent because order.
On the other hand ten banks do not provide automobile finances.
10 financial institutions do not offer auto financings.
They include; Gain access to Bank, Resources Financial institution, Power Bank, Fidelity Bank as well as First National Bank.
The rest are; GT Financial institution, NIB, Societe General, Sovereign Bank and Universal Vendor Financial institution Of the twenty-one financial institutions that offer automobile car loans to clients, Unibank’s 45 percent was the highest possible. This is the third successive time the native financial institution is leading with the most pricey prices. By: Pius Amihere Eduku/citibusinessnews.
Of the twenty-one financial institutions that provide vehicle loans to customers, Unibank’s 45 percent was the highest. This is the third consecutive time the indigenous bank is leading with the most costly prices. By: Pius Amihere Eduku/citibusinessnews.