The Central Bank of Nigeria (CBN) has released new data showing Nigerian banks loan interest rates in 2026, revealing lenders with the lowest and highest borrowing costs.
The latest figures show how GTBank, Zenith Bank, Access Bank, UBA, FirstBank and other financial institutions price loans for customers based on risk, loan type and repayment conditions.
The CBN lending rate data gives individuals, businesses and SMEs a guide to compare bank loan costs in Nigeria before applying for credit.
Nigerian Banks With The Lowest Loan Interest Rates In 2026
GTBank recorded one of the lowest loan interest rates among major Nigerian banks, with a prime lending rate of 21.0 percent and a maximum lending rate of 32.0 percent.
Zenith Bank reported a prime lending rate of 23.62 percent, while Access Bank recorded 25.5 percent. Both banks published maximum lending rates of 32.0 percent.
FirstBank’s prime lending rate stood at 26.0 percent, with its maximum lending rate at 38.0 percent.
Ecobank reported a prime lending rate of 26.75 percent and a maximum lending rate of 48.0 percent.
UBA published a prime lending rate of 28.5 percent and a maximum lending rate of 32.0 percent.
Among merchant banks, Rand Merchant Bank Nigeria recorded a prime and maximum lending rate of 19.5 percent.
Quest Merchant Bank published a prime lending rate of 5.0 percent and a maximum lending rate of 32.5 percent.
GTBank, Zenith, Access And UBA Loan Rates Compared
| Bank | Prime Lending Rate | Maximum Lending Rate |
| GTBank | 21.0% | 32.0% |
| Zenith Bank | 23.62% | 32.0% |
| Access Bank | 25.5% | 32.0% |
| FirstBank | 26.0% | 38.0% |
| Ecobank | 26.75% | 48.0% |
| UBA | 28.5% | 32.0% |
Nigerian Banks With The Highest Loan Interest Rates
Some banks recorded higher lending rates, particularly for borrowers considered higher risk.
Tatum Bank reported the highest prime lending rate among banks that published figures, at 41.65 percent. Its maximum lending rate stood at 46.65 percent.
Nova Bank recorded a prime lending rate of 33.78 percent and a maximum rate of 39.0 percent.
FCMB published a prime lending rate of 31.0 percent and a maximum lending rate of 46.0 percent.
Stanbic IBTC recorded the highest maximum lending rate at 60.0 percent, while its published prime lending rate stood at 1.0 percent.
What CBN Lending Rates Mean For Borrowers
The CBN lending rate figures show benchmark prices used by banks when offering loans.
Prime lending rates apply mainly to customers with strong financial records, stable income, good credit history and adequate collateral.
Maximum lending rates apply to borrowers considered higher risk.
However, the final interest rate on a bank loan in Nigeria may differ because lenders consider factors such as loan amount, repayment period, collateral and customer profile.
For Nigerians searching for the lowest loan interest rate in Nigeria, the CBN data provides a comparison of how banks price credit in 2026.
Businesses and SMEs can use the figures to understand current borrowing costs before approaching lenders.
