Tips for identifying banks that offer the best interest rates

Posted by Felix Okoli on Saturday August 3, 2013 at 8:43:5:

If you are seeking to be an investor with a bank, you'll need to look for a bank that would pay you the best interest on the money you invest with them whether in form of fixed deposits or high interest deposit accounts.

Yeah, all banks in Nigeria do offer interest on any money held by them on behalf of their customers but they don't offer the same rates and if you are the kind of person who is interested in getting the best interest rates for your money, then you need to invest in banks that would give you the best deal.

Here are some tips that can help you identify banks that offer the best interest rates for your money:

- Banks with a lot of low income customers don't offer the best rates
- Banks that already have a lot of money don't offer good rates
- Banks that hardly do advertising their products don't offer good rates
- Most old generation banks don't offer the best rates
- Banks that have a history of low interest rates are less likely to ever offer good rates in the future
- Banks that target high income individuals with a high minimum opening balance are more likely to give good rates
- Banks that have a good customer service are more likely to offer good rates
- Banks with less queues are more likely to offer good rates
- Banks with High Interest Deposit accounts generally offer higher rates.

If your still want to ensure that you invest with a bank that would offer you the best rates, one thing you can do is to call their customer service on your phone or visit them and inquire what their current rates are before making your investment.

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Re: Tips for identifying banks that offer the best interest rates Reply by Utulu Ogechukwu Franklin on Monday September 16, 2013 at 21:6:41:

I feel Honored to have stumbled on this site i have just bookmarked. Please I am looking for tips on how to get an excellent FINANCIAL ADVISER to help plan an Investment strategy for me.

God Bless you for the Financial Literacy you give.




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