The Central Bank of Nigeria has officially published the current lending rates for all commercial banks operating in the country, revealing significant increases across multiple financial institutions.
Data released on November 13, 2025, shows updated figures from October 31, 2025, reflecting the most recent Monetary Policy Rate decisions from the apex bank's monetary policy meeting.
Major Banks Lending Rates Breakdown
According to the newly released data, several tier-1 banks have adjusted their lending rates. Access Bank now offers prime lending at 25.50% with maximum lending reaching 32.00%. United Bank for Africa (UBA) has set its prime rate at 28.50% and maximum at 32.00%, while Zenith Bank maintains prime lending at 27.10% with maximum lending capped at 35.00%.
Guaranty Trust Bank (GTB) shows one of the most interesting spreads with a remarkably low prime rate of 3.00% contrasted against a maximum lending rate of 35.00%.
Understanding Prime vs Maximum Lending Rates
The banking sector employs different lending rates based on customer credit profiles. The prime lending rate applies to customers with strong credit ratings and reliable financial histories, representing the most favorable terms available.
Conversely, the maximum lending rate targets customers with lower credit scores or higher perceived risk, resulting in significantly higher borrowing costs. This tiered approach allows banks to manage risk while extending credit across different customer segments.
Industry-Wide Rate Increases
Financial analysts attribute the rising lending rates to tighter market liquidity conditions and the Central Bank's monetary tightening stance. The CBN has maintained a hawkish position in recent months, implementing measures to control inflation and stabilize the national currency.
The data reveals substantial variations across institutions. Ecobank shows one of the highest maximum rates at 48.00%, while Stanbic IBTC reaches 60.00% for maximum lending despite maintaining a minimal 1.00% prime rate.
Other notable rates include First Bank of Nigeria at 26.00% prime and 38.00% maximum, Fidelity Bank at 30.00% prime and 36.00% maximum, and Union Bank with 16.00% prime and 37.00% maximum lending rates.
Economic Implications and Market Response
The increased lending rates are expected to impact both individual borrowers and businesses seeking financing. Higher borrowing costs may slow down consumer spending and business expansion plans, particularly for small and medium enterprises that rely heavily on bank credit.
Market observers note that the rising rates coincide with increased bank exposure to the oil and gas sector, where loan allocations grew from N10.17 trillion in 2023 to N15.6 trillion in 2024 among nine major Nigerian banks.
The monetary policy environment continues to evolve, with the CBN balancing inflation control against economic growth objectives. Businesses and individual borrowers are advised to carefully assess their financing options in light of these new lending rates.
