CBN Releases Latest Lending Rates of Access, UBA, GTbank, Zenith, Other Banks

 CBN Releases Latest Lending Rates of Access, UBA, GTbank, Zenith, Other Banks 

The Central Bank of Nigeria published updated prime and maximum lending rates for commercial and merchant banks operating in the country Tatum Bank recorded the highest prime lending rate at 41.65%, while Stanbic IBTC posted the highest maximum lending rate at 60.00% .

The CBN said the disclosure is part of its transparency policy to help borrowers compare loan costs before committing to credit Find it fast with our new search feature at Legit.ng! The Central Bank of Nigeria (CBN) has published updated lending rates of commercial and merchant banks, giving borrowers a clearer picture of what credit currently costs in Nigeria's banking sector.

 The data published on July 3 is part of its broader transparency and consumer protection framework, enabling households, small businesses, and corporate borrowers to compare the cost of credit before approaching any lender.

 Nigerian banks maintain varied lending rates as CBN promotes transparency in the country's credit market. Photo: Bloomberg Source: UGC Insight on latest bank lending rates Two categories of rates are involved: prime lending rates, which are reserved for customers with strong credit standings, and maximum lending rates, which apply to borrowers carrying higher perceived risk. 

 Among the major commercial banks, Guaranty Trust Bank (GTBank) offered the most competitive prime lending rate at 21.00%, with a maximum of 32.00%. Zenith Bank followed with a prime rate of 23.62% and a maximum of 32.00%, while Access Bank stood at 25.50% and 32.00% respectively. United Bank for Africa (UBA) set its prime rate at 28.50% and capped its maximum at 32.00%, and First Bank of Nigeria charged 26.00% as its prime rate with a ceiling of 38.00%.

 On the higher end of the scale, Tatum Bank recorded a prime lending rate of 41.65% and a maximum of 46.65%, while Nova Bank posted a prime rate of 33.78% with a maximum of 39.00%. Wema Bank listed 32.50% as its prime rate and 34.50% as its ceiling, and FCMB disclosed a prime rate of 31.00% and one of the sector's steeper maximum rates at 46.00%.

The widest spread between prime and maximum rates was reported by Stanbic IBTC, whose prime rate stood at just 1.00% against a maximum lending rate of 60.00%, the highest recorded maximum in the current disclosure.

 Ecobank also maintained a notably elevated ceiling at 48.00%, with a prime rate of 26.75%. Fresh CBN data show prime lending rates range from 1% to over 41% across Nigerian banks. Photo: CBN Source: Facebook Among merchant banks, Rand Merchant Bank Nigeria posted identical prime and maximum rates of 19.50%, suggesting a narrow risk differentiation in its loan book. Quest Merchant Bank disclosed an unusually low prime rate of 5.00% against a maximum of 32.50%. Signature Bank did not publish figures for either category. Latest CBN lending rates Bank Prime (%) Maximum (%) Access Bank 25.50 32.00 Alpha Morgan Bank 27.00 33.00 Citi Bank 19.00 20.00 Coronation Merchant Bank 25.00 28.00 Ecobank 26.75 48.00 Quest Merchant Bank 5.00 32.50 FCMB 31.00 46.00 Fidelity Bank 30.00 36.00 First Bank of Nigeria 26.00 38.00 FSDH Merchant Bank 22.00 33.00 Globus Bank Ltd 28.50 33.00 Greenwich Merchant Bank 23.60 29.50 Guaranty Trust Bank 21.00 32.00 Keystone Bank Ltd 30.50 36.00 Nova Bank 33.78 39.00 Optimus Bank 28.50 35.00 Parallex Bank 30.00 32.50 Polaris Bank 29.00 41.00 Premium Trust Bank 28.00 36.00 Providus Bank 26.50 35.00 Rand Merchant Bank Nigeria Ltd 19.50 19.50 Signature Bank – –

 Stanbic IBTC 1.00 60.00 Standard Chartered Bank 27.00 29.00 Sterling Bank 26.00 33.50 SunTrust Bank 22.00 37.00 Tatum Bank 41.65 46.65 United Bank for Africa 28.50 32.00 Union Bank 16.95 38.00 Unity Bank 30.00 38.00 Wema Bank 32.50 34.50 Zenith Bank 23.62 32.0 READ ALSO NGX gains in one week as banking stocks drive rally List of approved loan apps Meanwhile, Legit.ng earlier reported that the federal government, through the Federal Competition and Consumer Protection Commission (FCCPC), has released an updated list of approved loan applications in 2026. 

The announcement was made to provide clarity for consumers and ensure that only licensed digital money lenders operate within Nigeria’s financial technology space.