Consolidated Bank Ghana offers a wide range of services and products, including credit facilities and investment instruments.
All of these aforementioned products are driven by interest rates.
In this guide, you will be provided with the various interest rate at CBG.
It is always of interest for clients to first ask about the interest rate at Consolidated Bank Ghana whenever they set out for investment opportunities or loans.
This spells out how essential the interest rate is.
Consolidated Bank Ghana provides flexible interest rates for its clients. Their interest rate is appreciable, with feasible terms and conditions governing how the interest is earned and paid to your account.
Let’s now consider the interest rates on their products and services at any of their branches in Ghana.
What Is CBG Interest Rate On Savings Account
Consolidated Bank Ghana operates various savings accounts, including the YOLO account (Students Account), Classic savings account, and Priority savings account.
The interest rate for all CBG savings account has been exhaustively elaborated below:
1. Classic Savings Account: The interest rate on this account is tiered. It has a minimum interest rate of 0.5% and a maximum rate of 5% per annum. Interest rates for Classic savings account are as follows:
- It has a minimum interest bearing amount of GHS 100
- Deposit amount ranging from GHS 100.00 to GHS 2000.00 attracts an interest rate of 0.5%
- Deposit of 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. 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. 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. 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. 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. 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
Consolidated Bank Ghana has various credit facilities for its customers at their branches in Ghana. You can’t run out of loan options with CBG, and it has loan offers available for all needs, like funeral loans, educational loans, business loans, and others.
Interest Rates for CBG loans are charged every month. All interest rates for Consolidated Bank Ghana loans are spelled out in the terms and conditions for applying for the loans.
CBG mostly wants customers who want to apply for loans to furnish them with information regarding their work to enable them to advise them on the various rates for loans. You can call them for assistance on 0302216000
How Much Is Paid As Interest On Cal Bank Investment
Cal Bank investment instruments are always attached interest for years the investment is made to cover.
The interest rate on the investment is also tiered, like the savings account. It is calculated based on the maturity period of the investment and the principal deposit. This means you can earn the most interest on your investment and the principal deposit.
This means you can earn the most interest on your investment purchase from Cal Bank Ghana if you deposit a huge amount. Interest is credited to these accounts once you are done activating the investment.
How Much Interest Is Paid Monthly On CBG Loan
Consolidated Bank Ghana allows their customers to pay the same amount for every period spread for the loan payment. This is most time depending on the terms and conditions surrounding the loan and the customer’s financial strength. However, whatever your strength is, CBG has a feasible payment plan for you.
How Long Does It Take to Pay Interest On Cal Bank 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 Cal Bank 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.
For more information, visit: https://www.cbg.com.gh/