{
  "id": 9538978,
  "title": "Average lending rate stood at 15.9% as of August 2026",
  "url": "https://urgent.news/2026/09/24/average-lending-rate-stood-at-15-9-as-of-august-2026-9538978",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-24T10:09:33.000Z",
  "source": {
    "name": "MyJoyOnline Ghana",
    "slug": "myjoyonline-ghana",
    "url": "https://www.myjoyonline.com/average-lending-rate-stood-at-15-9-as-of-august-2026/"
  },
  "original_language": "en",
  "account": "As of August 2026, the average lending rate in Ghana was recorded at 15.9% by the Bank of Ghana, a figure that had been stable around 15% since May 2026. This means borrowers would incur approximately 1.31% interest per month on their loans, not including additional fees. The Ghana Reference Rate, meanwhile, remained steady at 10.61% throughout August 2026, up from 10.59% in July.\n\nHistorical data from the Bank of Ghana's September 2026 Summary of Economic and Financial Data indicates that the average lending rate experienced a decline from 20.58% in January 2026, dropping to 19.17% by February, and further to 17.74% in March. The rate then stabilized around 16.33% in April before hovering between 15.83% and 15.80% in May, June, and July of that year.\n\nIn July 2026, the Bank of Ghana maintained its policy rate at 14%, citing concerns over inflation and external pressures stemming from the Middle East war, which had significantly increased oil prices. Interest rates across banks, however, are not uniform. Different banks, sectors, and borrowers experience varying loan rates. Some banks offer loans at rates equivalent to the Ghana Reference Rate, while others charge considerably higher rates, up to 30% annually. Currently, certain banks are providing structured loans to employees at an average rate of 12%.",
  "summary": "Similarly, the Ghana Reference Rate also stood at 10.61% in August 2026, from 10.59% in July 2026.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "Joy Business",
        "title": "Average lending rate stood at 15.9% as of August 2026",
        "url": "https://urgent.news/2026/09/24/average-lending-rate-stood-at-15-9-as-of-august-2026",
        "published": "2026-09-24T10:09:33.000Z"
      },
      {
        "outlet": "Adom Online",
        "title": "Average lending rate stood at 15.9% as of August 2026",
        "url": "https://urgent.news/2026/09/24/average-lending-rate-stood-at-15-9-as-of-august-2026-9545209",
        "published": "2026-09-24T11:11:02.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}