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Don’t Rush For Loans, Report Undisclosed Interest Charges To Us – Bank Of Ghana To Borrowers

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The Central Bank of Ghana has sent out a warning to prospective borrowers against rushing for loans.

In a recent notice to the public, the Bank Of Ghana urged borrowers to obtain and compare offers from multiple lenders before deciding on the best deal to go in fro where possible.

In addition to this, the financial sector regulator said before signing a loan agreement, lenders are required to give potential borrowers a ‘pre-agreement truth’ in the lending statement.

According to the Bank of Ghana, borrowers shall be due a refund of all charges that are not disclosed to the borrower in the loan agreement because there will be considered null and void.

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