Nigerian banks fixed deposit rates differs from one bank to the other. Fixed deposit is a large sum of money deposited with a bank for an agreed period in exchange for interest after investment. We have listed the best top banks in Nigeria with their various interest rate for you to compare and make your choice below.
Also be aware that you will need to have an existing account with the bank, and then you deposit the agreed sum you want to fix into this account. The bank will remove the money to be fixed and would pay interest monthly (30 days) into your account.
Below is a list of interest rates of 6 top banks in Nigerian fixed deposit account
1. First Bank of Nigeria fixed deposit account interest rate
The interest rate of First Bank of Nigeria fixed deposit in 30 days of investment or one month is 2.5% of the sum deposited. After 60 days, it will increase by 2.7%. Then after 90 days, it would increase by 30%.
2. Stanbic IBTC fixed deposit account interest rate
The interest rate of Stanbic IBTC fixed deposit account after 30 days of investment is 3%. The money will also appreciate by 3.25% if you leave it for up to 60 days and 3.5% after 90 days.
3. Wema Bank fixed deposit account interest rate
For Wema bank, after 30 days of investment with the deposited sum, interest rate of 3% is paid into your account while after 60 days, it will yield 3.25%. If it is left untouched for 90 days, it will appreciate by 3.75%.
4. Diamond Bank fixed deposit account interest rate
Diamond bank interest rate for fixed deposit is slightly higher as if you deposit 600,000 Naira into fixed deposit, it will appreciate by 4% after 30 days of investment. If after 60 days, the money isn’t touched, it will increase by 4.35%. Then after 90 days, it will increase by 4.5%.
5. GTBank fixed deposit account interest rate
Fixed deposit in GTBank for 30 days, 60 days or 90 days or any length of time yields 4.5% interest rate.
6. Sterling Bank fixed deposit account interest rate
This customer friendly bank gives out the highest interest rate in Nigeria as your investment increases by 5% after 30 days, 5.25% interest rate after 60 days and 5.5% after 90 days of investment.
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SOURCE: Nigeriainfopedia
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