For savers comparing Ghana’s major banks, Absa currently offers the highest headline fixed-deposit rate, with a reported one-year rate of up to 23.0% for eligible deposits. CalBank and Fidelity Bank publish much lower posted rates, but their exact offer depends heavily on your deposit amount and tenor.
Fixed Deposit Rates at a Glance
| Bank | Minimum deposit | Strongest published rate | Key terms |
|---|---|---|---|
| Absa Bank Ghana | GH₵5,000 | Up to 23.0% for one year, before 8% withholding tax on interest | Rates vary by amount and tenor; confirm current offer with the bank |
| CalBank | GH₵5,000 | Up to 1.05% for three months in the GH₵600,000–699,999 tier; above GH₵1 million is negotiable | Published rates are tiered by amount and tenor |
| Fidelity Bank | GH₵20,000 | Up to 2.50% for 182 days on deposits above GH₵5 million | 365-day rate is listed as “TBD”; rates rise with deposit size |
CalBank Fixed Deposit Rates
CalBank offers fixed deposits from GH₵5,000, with interest determined by both the maturity period and the amount invested. Its published product terms cover three-, six-, and 12-month tenors.
For a mid-sized deposit of GH₵30,000–GH₵59,999.99, CalBank’s published rates are:
| Tenor | Published rate |
|---|---|
| 1 month | 0.59% |
| 2 months | 0.66% |
| 3 months | 0.73% |
| 6 months | 0.48% |
| 12 months | 0.40% |
CalBank’s best published ordinary-tier rate is therefore concentrated in the three-month tenor, rather than the 12-month deposit. For example, GH₵50,000 placed for three months at 0.73% per annum would earn roughly GH₵91 before tax, assuming simple interest and no early withdrawal.
Fidelity Bank Fixed Deposit Rates
Fidelity Bank’s published fixed-deposit table starts at GH₵20,000 and rises with the amount deposited. For the week ending 23 October 2026, Fidelity listed the following rates for deposits above GH₵5 million: 2.00% for 30 days, 2.10% for 60 days, 2.15% for 91 days, and 2.50% for 182 days.
For more typical deposits, the rates are lower:
| Deposit band | 30 days | 60 days | 91 days | 182 days |
|---|---|---|---|---|
| GH₵20,000 | 0.25% | 0.35% | 0.60% | 0.75% |
| Above GH₵25,000–50,000 | 1.00% | 1.15% | 1.25% | 1.30% |
| Above GH₵50,000–100,000 | 1.30% | 2.20% | 1.50% | 1.55% |
| Above GH₵100,000–500,000 | 1.55% | 1.65% | 1.75% | 1.85% |
Fidelity’s 365-day rate is shown as TBD, so savers seeking a one-year lock-in should ask the branch or relationship manager for a current quote.
Absa Bank Fixed Deposit Rates
Absa is the clear leader on headline yield among the three. A Ghana banking comparison reports that Absa’s fixed-deposit minimum is GH₵5,000 and that its one-year rate can reach 23.0%, before the 8% withholding tax applied to interest for individuals.
That tax matters. On a GH₵10,000 one-year deposit at 23%, gross interest would be GH₵2,300. After 8% withholding tax, the net interest would be about GH₵2,116, giving an effective net return of roughly 21.16%.
However, Absa’s public rate disclosure is less transparent than CalBank’s and Fidelity’s. The exact rate you receive may depend on your deposit band, tenor, customer relationship, and whether the offer is negotiated directly with the bank. Always request a written confirmation of the rate, tenor, maturity date, and tax treatment before funding the deposit.
Which Bank Pays the Most?
Absa offers the highest potential return, especially for a one-year fixed deposit. CalBank and Fidelity’s published rates are far lower on their standard rate cards, although larger deposits may be negotiable.
| If you want… | Best option |
|---|---|
| Highest headline yield | Absa, subject to confirming the current rate and eligibility |
| Lowest published minimum among these three | Absa or CalBank, both from GH₵5,000 |
| Clear, publicly tiered rates | CalBank or Fidelity Bank |
| A short 91-day deposit | Fidelity for larger deposits, where its 91-day rate reaches 2.15% above GH₵5 million |
| A six-month deposit | Fidelity for very large deposits; its published 182-day peak is 2.50% |
How Much Can You Earn?
Using simple annual interest:
| Deposit | Bank and rate | Gross interest | Estimated net after 8% tax |
|---|---|---|---|
| GH₵10,000 for 1 year | Absa at 23.0% | GH₵2,300 | GH₵2,116 |
| GH₵50,000 for 3 months | CalBank at 0.73% | GH₵91 | GH₵84 |
| GH₵50,000 for 6 months | Fidelity at 1.30% | GH₵325 | GH₵299 |
| GH₵1,000,000 for 6 months | Fidelity at 2.50% | GH₵25,000 | GH₵23,000 |
These examples assume the full principal remains invested for the stated term and that interest is taxed at 8% for individuals. Banks may calculate interest differently, and early withdrawal can reduce or eliminate the advertised return.
Fixed Deposits vs Treasury Bills
Even Absa’s strong 23% one-year fixed-deposit rate should be compared with government securities. Recent Ghana auction data cited a 364-day Treasury bill yield of 9.75%, while 91-day and 182-day bills yielded 4.60% and 6.28% respectively.
That makes a confirmed high-yield bank fixed deposit potentially more attractive than a short T-bill—but only if the rate is genuinely available for your deposit size and tenor. Fixed deposits lock your money, while Treasury bills are market-based instruments whose rates change at each auction.
Before You Invest
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Confirm the current rate in writing; posted rates can change weekly.
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Ask whether the quoted rate is gross or net of withholding tax.
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Check the minimum deposit for the exact tenor you want.
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Ask about early-withdrawal penalties and whether interest is paid upfront, monthly, or at maturity.
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Confirm deposit protection under the Ghana Deposit Protection Corporation, which covers eligible deposits up to GH₵6,250 per depositor per bank.
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For large amounts, ask whether the bank offers a negotiated corporate or private-banking rate.
