Deposit interest rate in Ghana
Ghana: Deposit interest rate was 11.4% in 2023. ▼ Falling
Deposit interest rate in Ghana, 1978–2023
Source: International Financial Statistics database, International Monetary Fund (IMF). Measured in %.
Analysis
The most recent figure for deposit interest rate in Ghana is 11.4%, measured in 2023.
The figure is down 5.3% on the previous year and down 7.6% over ten years.
Over the whole period, deposit interest rate in Ghana peaked at 35.8% in 1997 and was at its lowest, 8.9%, in 2006.
Ghana ranks 13th of 153 countries on this measure, in the top 10%.
The long-run direction has been consistently falling across the 45 years of available data.
Deposit interest rate in Ghana, year by year
| Year | % | Change |
|---|---|---|
| 1978 | 11.5% | — |
| 1979 | 11.5% | +0.0% |
| 1980 | 11.5% | +0.0% |
| 1981 | 11.5% | +0.0% |
| 1982 | 11.5% | +0.0% |
| 1983 | 11.5% | +0.0% |
| 1984 | 15.0% | +30.4% |
| 1985 | 15.8% | +5.0% |
| 1986 | 17.0% | +7.9% |
| 1987 | 17.6% | +3.4% |
| 1988 | 16.5% | -6.2% |
| 1989 | 15.5% | -6.1% |
| 1991 | 21.3% | +37.6% |
| 1992 | 16.3% | -23.4% |
| 1993 | 23.6% | +44.8% |
| 1994 | 23.1% | -2.0% |
| 1995 | 28.7% | +24.1% |
| 1996 | 34.5% | +20.1% |
| 1997 | 35.8% | +3.7% |
| 1998 | 32.0% | -10.4% |
| 1999 | 23.6% | -26.5% |
| 2000 | 28.6% | +21.4% |
| 2001 | 30.9% | +7.9% |
| 2002 | 16.2% | -47.5% |
| 2003 | 14.3% | -11.6% |
| 2004 | 13.6% | -4.9% |
| 2005 | 10.2% | -25.4% |
| 2006 | 8.9% | -12.6% |
| 2007 | 8.9% | +0.1% |
| 2008 | 11.3% | +26.9% |
| 2009 | 17.1% | +51.2% |
| 2010 | 12.9% | -24.5% |
| 2011 | 8.9% | -30.8% |
| 2012 | 10.1% | +12.8% |
| 2013 | 12.3% | +22.9% |
| 2014 | 12.9% | +4.5% |
| 2015 | 13.3% | +3.4% |
| 2016 | 13.0% | -2.2% |
| 2017 | 14.1% | +7.8% |
| 2018 | 12.1% | -14.1% |
| 2019 | 11.5% | -4.8% |
| 2020 | 11.5% | +0.0% |
| 2021 | 11.5% | +0.0% |
| 2022 | 12.1% | +4.8% |
| 2023 | 11.4% | -5.3% |
Ghana compared with similar countries
- Ghana's 11.4% is above the median for lower middle income countries, which is 5.2%, 2.2× the median. (42 countries reporting)
- Ghana's 11.4% is above the median for Sub-Saharan Africa, which is 5.7%, 2.0× the median. (44 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 11.5% | 11.5% | 11.5% | 2 |
| 1980s | 14.3% | 11.5% | 17.6% | 10 |
| 1990s | 26.6% | 16.3% | 35.8% | 9 |
| 2000s | 16.0% | 8.9% | 30.9% | 10 |
| 2010s | 12.1% | 8.9% | 14.1% | 10 |
| 2020s | 11.6% | 11.4% | 12.1% | 4 |
Countries ranked near Ghana
More financial sector data for Ghana
- Reserve position in the IMF, US dollar, annual growth rate 5.01 % change on previous year (2025)
- Reserve position in the IMF, US dollar, per unit of GDP 0.0011 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 3.61 units per person (2025)
- Reserve position in the IMF, SDR, annual growth rate 0 % change on previous year (2025)
- Reserve position in the IMF, SDR, per unit of GDP 0.0008 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 2.64 units per person (2025)
- Reserve tranche position, US dollar, annual growth rate 5.01 % change on previous year (2025)
- Reserve tranche position, US dollar, per unit of GDP 0.0011 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 3.61 units per person (2025)
- Reserve tranche position, SDR, annual growth rate 0 % change on previous year (2025)
Frequently asked questions
- What is deposit interest rate in Ghana?
- Deposit interest rate in Ghana was 11.4% in 2023, according to International Financial Statistics database, International Monetary Fund (IMF).
- What is the highest deposit interest rate recorded in Ghana?
- The highest recorded value was 35.8% in 1997.
- What is the lowest deposit interest rate recorded in Ghana?
- The lowest recorded value was 8.9% in 2006.
- How does Ghana rank for deposit interest rate?
- Ghana ranks 13th out of 153 countries with data for 2023.
- Is deposit interest rate rising or falling in Ghana?
- Over the last ten years it is down 7.6%. The long-run trend across the full record is falling.
- Where does this Ghana data come from?
- The figures come from International Financial Statistics database, International Monetary Fund (IMF), published as part of Deposit interest rate (%). Statizoid updates them automatically from the source API.
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About this data
Deposit interest rate is the rate paid by commercial or similar banks for demand, time, or savings deposits. The terms and conditions attached to these rates differ by country, however, limiting their comparability. This indicator is expressed as a percentage (a÷b)*100.