Lucky for you, you can find a list of the Top 6 Nigerian banks with the best interest rates below: The First Bank of Nigeria is one of the oldest and most reliable options on the market. Today’s deposit rates really pale in comparison with interest rates of the past. Fixed deposit is a large sum of money deposited with a bank for an agreed period in exchange for interest after investment. 3 years – 5.5%. Fees could reduce earning on the account. Since then, some banks could have changed their rates, because that’s the way they operate. Access Bank fixed deposit account interest rate, 5. After 60 days, it will increase by 2.7%. First Bank of Nigeria fixed deposit account interest rate. If after 60 days, the money isn’t touched, it will increase by 4.35%. to 6.75% p.a. Awesome…. As per the decision taken by the Competent Authority rate of interest on Bulk Term deposit above Rs. 2. Pls I want to know if one deposits 100k as fix deposits what will be his interest monthly or quarterly? Then after 90 days, it will increase by 4.5%. I suppose the interest rates you gave are annual rates. In fact, according to the current trends, most of the banks are offering FD interest rates for non-senior citizen depositors in the range of 3%-5.4% p.a. 3. Earn additional interest if you open this account online, in our mobile banking app or at an AutoPlus ATM. but I kind of trust first bank. The fifth place for goes to Stanbic. Offers better interest than a normal savings account. 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. Saving Bank deposits rates w.e.f. If you choose to open a deposit with them, you’ll be offered: Now you know everything about fixed deposit interest rate in Nigeria, and know which bank to visit to get the best offer. While GT offers the same rates as the previous member of our list, it gives an equal opportunity to all deposit lengths. For an investment of half a million Naira, you’ll be presented with: Stambic IBTC Bank pays 0.5% interest on 180 days tenor on N1million as at 10/3/2020. The bank will remove the money to be fixed and would pay interest monthly (30 days) into your account. For a sum of half a million you can enjoy the following rates: Important notice: In some of the banks present on this list, the rate percentage depends on the amount you are ready to deposit. The bank which allow customers open a fixed deposit account for a period that ranges between 7 days and 10 years has cut the interest rates on deposits maturing in one to two years. Senior citizens are getting 8.00% rate of interest. Then after 90 days, it would increase by 30%. Overall Best Fixed Deposits Rates for 2021 African Bank has the best fixed deposits for 2020 with a 12.22% interest rate, followed by Discovery Bank at 9.01% and FNB at … First Bank of Nigeria Fixed Deposit Rates, What to Know Before Opening a Domiciliary Account in Nigeria, How To Register A Foreign-Owned Business in Nigeria, List of All Fidelity Bank Sort Codes in Nigeria, How to List Your Company on the Nigerian Stock Exchange (NSE), Largest Networks in Nigeria by Market Share, Television Stations in Nigeria and Their Frequencies, Everything you Need to Know About Zoom Lifestyle Lottery, List of All Major Political Crises in Nigeria Till Date, Cold Stone Creamery Contact Details & Outlets in Nigeria. As of our last available data, Sterling can offer you the best interest rates in Nigeria. Existing Rates for Senior Citizens w.e.f. FAQs about Fixed Deposit Which bank is offering the highest fixed deposit interest rates? for tenure 7 days - 10 years. Fixed Deposit: Nominal Rates Published at 2020-12-04 Period R10 000-R249 999.99 R250 000-R499 999.99 ... First National Bank - a division of FirstRand Bank Limited. If you choose to open a deposit with them, you’ll be offered: Now you know everything about fixed deposit interest rate in Nigeria, and know which bank to visit to get the best offer. September 30, 2020. The shortest possible term is a single month, while the longest can go for five years max. T&I/MUM/TDR-68/2019-20 The minimum placement is S$25,000. All interest payments for the APY will be made at the end of the term or annually, whichever occurs first. The fifth place for goes to Stanbic. Try SunTrust Bank, you can get up to 7-10% based on the amount and tenor. Save my name, email, and website in this browser for the next time I comment. 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Helps you save money to avoid reckless spending your savings. First Bank of Nigeria fixed deposit account interest rate, 2. If you refer one person, you will get 0.5% of their investments. The honorary first place goes to Sterling Bank. Wat will be the interest rate of 1.5m wit zenith bank sir. Competitive Rate of Interest: The IDFC Bank FD rates are attractive across all the tenures.All the depositors who are under the age of 60 can get a maximum of 7.00% rate of interest while the IDFC Bank FD rates for senior citizens is 7.50%. Stanbic IBTC fixed deposit account interest rate, 3. If after 60 days, the money isn’t touched, it will increase by 4.35%. Get fixed deposits at attractive interest rates at Axis Bank and ensure good returns on your investment. For an average deposit of half a million Naira you’ll receive the following: For an investment of half a million Naira, you’ll be offered 4.5% interest no matter the period of time you sign up for. After 60 days, it will increase by 2.7%. 25.00 lakhs: 3.00% p.a. Bro Unity Bank has the best for 2020 thank me later. 1 year – 5.5%. Offers better interest than a normal savings account. Such an endeavour will also come in handy for choosing a suitable combination of tenure and deposit amount. For a sum of half a million you can enjoy the following rates: Important notice: In some of the banks present on this list, the rate percentage depends on the amount you are ready to deposit. What differentiates FD from other kinds of saving investments, is that you do not receive your interest every thirty days, but only once when your contract ends. 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. Then after 90 days, it would increase by 30%. It’s rather simple. 16-01-2021) fcnr rates above 5 million Disclaimer: All of the data provided here is accurate as of the first half of 2017. You take a list of the biggest, most reliable banks in the country, and crunch the numbers to see which one of them offers the highest interest rates. savings account and retail deposit rate. DHFL Bank is one of the highest interest offering banks and provides an interest rate of up to 9.25% for fixed deposits. While GT offers the same rates as the previous member of our list, it gives an equal opportunity to all deposit lengths. IDFC Bank is one of the most established commercial banks of the country. Comment:it’s a lie Gtbank fit deposit interest rate is 0.5% it’s not even up to 1thousand naira monthly. 10) Interest rates offered on these deposits vary from bank to bank. Pls sir if I invest 100,000 in sterling bank, after 1 year, how will be my interest rate. > = 2 crores ( w.e.f quality information website that provides resourceful information about her culture, people things! 90 days, 60 days, 60 days, it would increase by 2.7 % Union CDs! 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