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.
Bank 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

  • 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

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

    Gbenga from Nigeria
  • United Bank For Africa
    Q: Goodmorning UBA. Please I would like to know if the Bank is currently dealing on treasury bills and at what rate does the bank deal on?

    Ozo Nduka Agbadu from Suleja, Nigeria