Access, UBA, Zenith, Other Banks New Lending Rates Released
- The CBN has published the lending rates for all Nigerian banks, including Access, UBA, and others
- The figures announced showed an increase in both maximum and prime lending rates for banks
- Analysts said the rise in lending rates reflects tighter market liquidity and the Central Bank’s monetary tightening stance
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Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
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.
Source: Getty Images
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%
Source: Getty Images
- 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 rports 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.
Oil and gas loans
Earlier, Legit.ng reported that amid the volatility of the petroleum industry and unstable global oil prices, Nigerian banks are increasing their exposure to the Oil and Gas sector.
Loan exposure from nine Nigerian banks to the oil and gas sector rose from N10.17 trillion in 2023 to N15.6 trillion in 2024.
These banks include all the tier-one banks: First Holdings Plc, United Bank for Africa Plc (UBA), Access Holdings Plc, Guaranty Trust Holding Plc (GTCO), and Zenith Bank Plc.
Source: Legit.ng
