---

Home | General | ( 2 ) | Subscribe

Posted by Felix Okoli on Wednesday April 9, 2014 at 15:31:0:

The Central Bank of Nigeria periodically publishes the interest rates being offered by banks in Nigeria to their customers and these includes rates on savings accounts and fixed deposit.

This is an extract of the rates I was able to get for March 28th 2014:

Time deposit rates:
===============

Access Bank: 8.21
Citi Bank Nigeria: 8.05
Diamond Bank: 10.45
Ecobank Nigeria: 9.97
Enterprise Bank Ltd: 7.13
FCMB: 11.25
Fidelity Bank: 11.00
First Bank of Nigeria: 9.14
Heritage Bank: 11.48
Guaranty Trust Bank: 8.60
Keystone Bank Ltd: 8.95
Mainstreet Bank Ltd: 9.26
Skye Bank: 10.21
Stanbic IBTC Bank: 8.76
Standard Chartered Bank: 9.50
Sterling Bank: 8.37
Union Bank: 10.06
United Bank for Africa: 9.90
Unity Bank: 8.25
Wema Bank: 8.92
Zenith Bank: 3.60

Savings Deposit rates:
==============
Access Bank: 3.60
Citi Bank Nigeria: 3.60
Diamond Bank: 3.60
Ecobank Nigeria: 3.60
Enterprise Bank Ltd: 3.60
FCMB: 3.60
Fidelity Bank: 3.00
First Bank of Nigeria: 3.60
Heritage Bank: 3.99
Guaranty Trust Bank: 3.60
Keystone Bank Ltd: 3.24
Mainstreet Bank Ltd: 3.60
Skye Bank 3.60
Stanbic IBTC Bank: 3.60
Standard Chartered Bank: 3.60
Sterling Bank: 3.60
Union Bank: 3.60
United Bank for Africa: 3.60
Unity Bank: 3.60
Wema Bank: 3.71
Zenith Bank: 3.60

Now you can get an idea on how the different banks in Nigeria offer varying interest rates on deposits.

---

Comments:

1
Re: CBN report on Average deposit rates of Nigerian banks as at March 28 2014 Reply by mariam on Thursday June 12, 2014 at 24:6:33:

Sir I think the bank that offer the highest rate is diamond bank?




---

Comments:
Re: CBN report on Average deposit rates of Nigerian banks as at March 28 2014 Reply by Cristao on Monday January 5, 2015 at 20:27:26:

First Bank Savings has never been 3.6%. It is more like 0.5 to 1%. Never understood why.

---