Nigeria Interest Rates

The Nigerian economy with a population of 158.2 Million (Est 2009) ranks 31st in the world with a GDP PPP of 374 billion and GDP PPP per capita of 2,422 vs 47,284 (United States) according to the IMF in 2010. Its currency is the Nigerian Naira (NGN). Bank deposits held for a fixed term in Nigeria are called fixed deposits or term deposits. According to CIA.gov its inflation was 11.5% in 2009 and 13.9% in 2010.

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Nigeria Banks

Showing rates for 6 Bank deposit providers in Nigeria.
Provider Branch Founded Ownership
United Bank for Africa United Bank For Africa 536 1949 Local
First Bank of Nigeria First Bank Of Nigeria 520 1894 Local
Zenith Bank Zenith Bank 340 1990 Local
Stanbic IBTC Bank Stanbic IBTC Bank 60 2007 Foreign
Standard Chartered Bank Nigeria Standard Chartered Bank Nigeria 28 1894 Foreign
Citibank Nigeria Citibank Nigeria 12 1984 Foreign

Nigeria Discussion Activity

  • First Bank Of Nigeria
    Q: What is the interest rate on fixed deposit account?

    Reply Organiza from Nigeria
    • R: What bank are you looking for their interest rate on fixed deposit?

      Reply Bright
  • Standard Chartered Bank Nigeria - Loans - Standard Chartered Bank Nigeria Home Loan
    Q: PLs what is your present Loan rate for mortgage and is it per annum?

    Reply Seun from Lagos, Nigeria
  • Citibank Nigeria
    Q: Hi, I Citibank account in Singapore, what are the requirements if i want to open Citibank account in Nigeria. Regards, Sly

    Reply Sly from Singapore, Singapore
  • Loans
    Q: Hello, sir How I can loan to supply my business

    Reply hassan from Nigeria
  • Citibank Nigeria
    Q: I live in the US.Can I open a Citibank account to use in Nigeria in United states?

    Reply Kolawole from Trenton, United States
  • First Bank Of Nigeria - Savings
    Q: What's the interest rate on savings account

    Reply Olanrewaju from Nigeria
  • United Bank For Africa
    Q: why should I pay 850US$ for transferring money?

    Reply jean from Philippines
    • R: Wow 850usd is just too much for transfer what bank is it?

      Reply Bright
  • Savings
    Q: What is the interest rate for saving accounts ?

    Reply Hassan from Nigeria
    • R: What bank savings interest rate are you looking at?

      Reply Bright
  • United Bank For Africa
    Q: What does it take me to fix deposit money in UBA, what is the interest like and what is the minimum amount allowed

    Reply Ojajuni Olabisi from Nigeria
  • Loans
    Q: What is the different between home loan and personal loan

    Reply Gbenga from Nigeria
Synchrony Bank
Savings Account
1.65 % APY
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Discover Bank
Savings Account
1.55 % APY
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Synchrony Bank
CD 60 Months
2.85 % APY
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