Do you want to know the CBG interest rate in Ghana today? CBG operates various services and products like investments and loans, and each of these products is steered by interest rates.
In this CGG guide, we will focus on the various interest rates at CBG.
Consolidated Bank Ghana provides appreciable interest rates for all of its customers.
At CBG, the interest rate for a business account differs from a personal account, and this is due to the different underlining requirements.
Let’s now move straight to the interest rates on the various products and services at Consolidated Bank.
What Is CBG Interest Rate In Ghana
The interest rate at CBG is at a minimum of 0.5% and a maximum of 6% per annum.
However, depending on the type of product you want to purchase, your exact interest rate will be defined for you.
Most Consolidated Bank Ghana interest rates are tiered, meaning they are assigned depending on how much you deposit and how long your deposit is.
These two indicators imply that the higher your amount and longer your deposition period, the greater your interest earned.
What Is CBG Interest Rate On Savings Account
CBG has many savings accounts, including the Priority savings account, YOLO account (Students Account), and Classic savings account.
The interest rate for all CBG savings accounts has been listed below:
1. CBG Classic Savings Account: Its lowest rate stands at 0.5% and a maximum rate of 5% per annum.
Interest rates for Classic savings account are as follows:
Deposit amount starting from GHS 100.00 to GHS 2000.00 earns an interest rate of 0.5%
An amount above GHS 2000.00 to GHS 10000.00 attracts an interest of 1%
Deposit of exceeding GHS 10000.00 to GHS 50000.00 are credited interest of 1.5%
Amount above GHS 50,000.00 to GHS 100,000.00 earn 2% interest rate
Deposit above GHS 100,000 to GHS 300,000.00 are credited 3% interest
Amount above GHS 300,000.00 to GHS 500,000.00 attracts interest of 4%
Deposit amount exceeding GHS 500,000.00 earn 5% interest
2. CBG YOLO Account (Student Account): It has an interest ranging from 0.5% to 2% per annum.
The various interests depending on your deposit amount are as follow:
Amount (GHS) Interest Rate (% p.a)
100 – 1000 0.5
Above 1000 to 3000 1
Above 3000 to 10000 2
Above 10000 3
3. CBG Priority Savings Account: Interest rates are tiered. Thus depending on your amount deposited, an interest rate is credited.
The interest rates for this account are listed below:
Amount (GHS) Interest Rate (% p.a)
1000 – 10000 1
Above 10000 to 50000 1.5
Above 50000 to 100000 2
Above 100000 to 300000 3
Above 300000 to 50000 4
Above 500000 to 700000 5
Above 700000 6
4. CBG 1st Account (Trust Account For Minors): This account has an interest rate from 0.5% to 3% per annum.
Below are the interest rates paid on this account based on your deposit:
Amount (GHS) Interest Rate (% p.a)
200 – 1,500 0.50
Above 1,500 to 3,000 1
Above 3,000 to 5,000 1.5
Above 5,000 to 15,000 2
15,000 to 40,000 2.5
Above 40,000 3
5. CBG Flex Plus Account: This is a merger of savings and current accounts, and it means its holders are privy to both benefits of CBG savings and the current account.
It has a tiered interest rate from 0.5% to 4% yearly.
The interest rate for this account are listed below as follows:
Amount (GHS) Interest Rate (% p.a)
1,000 to 10,000 0.5
Above 10,000 to 50,000 1.0
Above 50,000 to 100,000 1.5
Above 100,000 to 300,000 2.0
Above 300,000 to 500,000 2.5
Above 500,000 to 700,000 3.0
Above 700,000 4.0
6. CBG Business Plus Account: It is a tiered account with interest ranging from 0.5% to 3%.
The variable interest rates are listed below:
Amount (GHS) Interest Rate (% p.a)
2,000 – 10,000 0.50%
Above10,000 – 50,000 1.00%
Above 50,000 – 150,000 1.50%
Above 150,000 – 300,000 2.00%
Above 300,000 – 600,000 2.50%
Above 600,000 3.00%
What Is CBG Interest On Loans
All Consolidated Bank loans interest rates are charged per month.
You can find out about their loans interest rate in their terms and conditions for loans application.
CBG prefers that customers who want customers who want to apply for loans to furnish them with information regarding their job to enable them to advise them on the various rates for loans.
You can call them for assistance on 0302216000
How Long Does It Take to Pay Interest On CBG Loan
The maximum duration with which you can pay your CBG loans is 48 months, and the loan repayment plan will always be made to be exhausted within this period.
What Happens If I Fail To Pay My CBG Interest
Failure to settle your loan in time will sometimes attract a penalty fee.
If there is any reason why you can’t meet the loan repayment deadline, you need to inform the appropriate authorities at the CBG branch where the loan was given.
That is all we have for you about the current CBG interest rate in Ghana.
Read the related Consolidated Bank articles below:
Ownership, How To Contact CBG, List Of Banks, Unibank, Saturdays, Consolidated Code, Treasury Bill, Internet Banking Registration, International, Current Interest Rate, USSD Code, Launch Date, How Many Banks, BIC Code, Internet Banking, Short Code, Transfer From Other Banks, Withdraw Money, Formation Date, Open Account.
