Business News of Monday, 23 October 2017Source: classfmonline.comBanks cut interest rates on depositsBarclays Bank has the highest interest rate of 10.3% on deposit,Commercial banks in the country have reduced the interest rates they offer on customer deposits. Royal Bank and Bank of Baroda placed third with 14.5 per cent interest rates on deposits. Zenith Bank, National Investment Bank and First National Bank placed ninth, 10th and 11th positions with highest interest rates on customer deposits. For the banks with the six lowest interest rates on customer deposits, Standard Chartered Bank tops with interest on deposits at 4.9 per cent. Moreover, ADB Bank, Universal Merchant Bank and Guaranty Trust Bank give interest rates of 6.2, 6.6 and 7.4 per cent.
Source: GhanaWeb October 23, 2017 08:03 UTC