Nigerian banks adjust loan rates based on customers’ creditworthiness Nigerian banks adjust loan rates based on customers’ creditworthiness
The CBN has released the latest lending rates of Nigerian banks, including Access Bank, United Bank for Africa (UBA), Zenith Bank, and Guaranty Trust Bank (GTB).
The updated figures, dated October 31, 2025, reflect the most recent Monetary Policy Rate (MPR) from its last Monetary Policy Meeting.
Banks’ lending rates
Nigerian banks charge loan rates based on customers’ creditworthiness and also the sector.
The maximum lending rate refers to interest charged on loans to customers with a low credit rating, while the prime rate applies to customers with a strong credit rating.
For this report, the general lending rates were used, which may differ depending on the sector for which the loan is requested.
Here is a snapshot of lending rates across banks:
Access Bank: Prime 25.50%, Maximum 32.00%
Alpha Morgan Bank: Prime 30.00%, Maximum 32.00%
Citi Bank: Prime 21.50%, Maximum 26.50%
Coronation Merchant Bank: Prime 25.00%, Maximum 25.00%
Ecobank: Prime 26.75%, Maximum 48.00%
FBN Quest Merchant Bank: Prime 5.00%, Maximum 5.00%
FCMB: Prime 31.00%, Maximum 46.10%
Fidelity Bank: Prime 30.00%, Maximum 36.00%
First Bank of Nigeria: Prime 26.00%, Maximum 38.00%
FSDH Merchant Bank: Prime 28.00%, Maximum 33.00%
Globus Bank Ltd: Prime 31.00%, Maximum 33.00%
Greenwich Merchant Bank: Prime 27.00%, Maximum 30.00%
Guaranty Trust Bank: Prime 3.00%, Maximum 35.00%
Keystone Bank Ltd: Prime 30.50%, Maximum 36.00%
Nova Bank: Prime 30.00%, Maximum 18.00%
Optimus Bank: Prime 28.50%, Maximum 35.00%
Parallex Bank: Prime 30.00%, Maximum 33.00%
Polaris Bank: Prime 29.00%, Maximum 41.00%
Premium Trust Bank: Prime 28.00%, Maximum 37.00%
Providus Bank: Prime 27.00%, Maximum 35.00%
Rand Merchant Bank Nig. Ltd: Prime 24.50%, Maximum 24.50%
Stanbic IBTC: Prime 1.00%, Maximum 60.00%
Standard Chartered Bank: Prime 27.00%, Maximum 29.00%
Sterling Bank: Prime 29.00%, Maximum 37.00%
Suntrust Bank: Prime 22.00%, Maximum 37.00%
Tatum Bank: Prime 39.51%, Maximum 34.51%
United Bank for Africa: Prime 28.50%, Maximum 32.00%
Union Bank: Prime 16.00%, Maximum 37.00%
Unity Bank: Prime 32.00%, Maximum 40.00%
Wema Bank: Prime 32.50%, Maximum 34.50%
Zenith Bank: Prime 27.10%, Maximum 35.00%
BusinessDay reports that the rise in lending rates reflects tighter market liquidity and the Central Bank’s monetary tightening stance, which continues to influence borrowing costs for businesses and individuals.