CBN report on Average deposit rates of Nigerian banks as at October 4 2013

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Posted by on Saturday October 12, 2013 at 9:18:29:

According to a published CBN report on page 15 of the Sun newspaper on Wednesday 9th 2013, here is a list of the average deposit rates offered by several banks in Nigeria

Savings
==========
Access bank = 3.6%
Citi Bank = 3.6%
Diamond bank = 3.6%
Ecobank = 2.23%
Enterprise Bank = 3.60%
FCMB = 3.6%
Fidelity bank = 3.0%
First Bank of Nigeria = 1%
Heritage bank = 3.99%
Guaranty Trust Bank = 3.6%
Keystone Bank = 2.98%
Mainstreet Bank = 3.6%
Skye Bank = 0.40%
Stanbic IBTC = 3.49%
Standard chartered = 3.6%
Sterling Bank = 3.6%
Union Bank = 3.60%
United Bank for Africa = 3.60%
Unity Bank = 3.60%
Wema Bank = 3.75%
Zenith Bank = 3.60%

Fixed Deposit
=============
Access bank = 7.69%
Citi Bank = 8.04%
Diamond bank = 10.50%
Ecobank = 9.40%
Enterprise Bank = 6.74
FCMB = 8.50%
Fidelity bank = 10%
First Bank of Nigeria = 8.49%
Heritage bank = 11.48%
Guaranty Trust Bank = 7.28%
Keystone Bank = 5.19%
Mainstreet Bank = 10.97%
Skye Bank = 8.23%
Stanbic IBTC = 9.78%
Standard chartered = 9.50%
Sterling Bank = 8.23%
Union Bank = 10.94%
United Bank for Africa = 9.29%
Unity Bank = 8.25%
Wema Bank = 9.28%
Zenith Bank = 8.50%

In Summary and according to the report, when it comes to savings, Heritage bank offered the highest rate while Skye bank bank offered the lowest rate. For Fixed deposits, banks like Diamond, Fidelity, Mainstreet, Union and Heritage bank offered the highest rates and at double digits.




Comments:
    Re: CBN report on Average deposit rates of Nigerian banks as at October 4 2013 Reply by Harrison on Wednesday February 12, 2014 at 5:40:25:

    Dear sir,

    What is the duration of the validity of these interest, are the rates annually reviewd by the CBN?
    Thanks




    Re: CBN report on Average deposit rates of Nigerian banks as at October 4 2013 Reply by Felix Okoli on Wednesday February 12, 2014 at 5:40:25:

    It is just a report by CBN that normally changes based on what the banks offer. I think the validity is 30 days.




Comments:
Re: CBN report on Average deposit rates of Nigerian banks as at October 4 2013 Reply by Anis on Saturday June 27, 2015 at 21:36:33:

Please sir do you know much bout skye wise investment, I wanted to fd 600k with them, and I'll like to know more bout mortgage investment



Re: CBN report on Average deposit rates of Nigerian banks as at October 4 2013 Reply by Felix Okoli on Saturday June 27, 2015 at 21:36:33:

No, I don't know about the account




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