Stanbic IBTC fixed deposit account interest rate, 3. Bulk Deposit Interest Rates w.e.f. Would love your thoughts, please comment. We have listed the best top banks in Nigeria with their various interest rate for you to compare and make your choice below. 25.00 lakhs: 3.00% p.a. 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. Access Bank fixed deposit account interest rate, 5. 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 … Based on customer’s instructions, at the end of agreed period (tenor), the investment can either be rolled over (re-invested) or liquidated (returned to customer) with the interest amount earned. This updated article provides answers as to the banks you can get the best fixed deposit rates in Nigeria 2017. 10.09.2020 Revised Rates for Senior Citizens w.e.f. You have entered an incorrect email address! 16-12-2020. b) BULK TERM DEPOSITS ABOVE Rs. Earn additional interest if you open this account online, in our mobile banking app or at an AutoPlus ATM. FCNR Deposit Interest Rates w.e.f. Access Bank fixed deposit account interest rate, 5. 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. Click here to know more about the fixed deposit interest rates so that you can pick wisely the fixed deposit that best suits your needs. Here are the latest fixed deposit interest rates in the post office in 2020. Fees could reduce earning on the account. Please, I want to know If one can actually deposit 100,000 and if yes, what’s the interest rate or is it only from half a million and above? As of our last available data, Sterling can offer you the best interest rates in Nigeria. 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. 1. crore and higher rates on deposits less than 1 crore. It’s rather simple. Currently, Suryodaya Small Finance Banks is offering the highest FD interest rate of 7.50%, for select tenure. Fixed deposit is a large sum of money deposited with a bank for an agreed period in exchange for interest after investment. You are sure of your interest with no risk involved. 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. Post office offers fixed deposits from 1 to 5 year period. Fixed Deposit - Get fixed deposits with high interest rates at Kotak Mahindra Bank to earn good returns on your investment. The fifth place for goes to Stanbic. Sterling Bank fixed deposit account interest rate, 6. It is an important decision to invest your savings into something. IDFC Bank FD Interest Rates: Check IDFC First Bank Fixed Deposit Rates & benefits. 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. You determine how long you open your deposit. FD interest rates HDFC Bank (below Rs 2 crore) effective from November 13, 2020: On deposits between 7 days and 29 days, HDFC Bank offers a 2.50 percent interest rate. 1 year – 5.5%. Fixed Deposit Interest Rates of Banks in Nigeria (2021), 1. 31.03.2020: On balance upto & including Rs. 3. Consider sharing this article with your friends, and good luck with your investment! While large banks like State bank of India offer the lowest rate on tax-saving deposits, some of the smaller private sector banks offer attractive rates on these deposits. Just back in 2009, the average big four term deposit rate was 5.25%, when the RBA cash rate was 7.2%. Fixed deposits vary in length of time. 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%. The fifth place for goes to Stanbic. You determine how long you open your deposit. Wat will be the interest rate of 1.5m wit zenith bank sir. If it is left untouched for 90 days, it will appreciate by 3.75%. Deposits maturing in 1 year to less than 18 months will fetch interest of 4.90 percent while those maturing in 18 months to 2 years will give you 5 percent interest. Return to content, Footnote 3 Below is a list of interest rates of 6 top banks in Nigerian fixed deposit account: 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. Although, there are small interest rates attached, there are also several benefits of this type of investment if you choose to setup a fixed deposit account which include: Let’s say you’ve decided to invest your money in a fixed deposit, but where do you go from here? Invest your money as little as 1000# @investment one … They are reliable GTB gave birth to it… And earn your interest daily…..with interest of 10% .. Just outside of the Top 3, we have the Wema Bank. Your capital is guaranteed. Remember that the banking industry is an ever-changing system, so be on the lookout for any new opportunities. to 7.25% p.a. The minimum placement is S$25,000. 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. 3 years – 5.5%. Fixed deposits vary in the length of time. Which bank is the best to invest on fix deposit 2020. Remember that the banking industry is an ever-changing system, so be on the lookout for any new opportunities. DHFL Bank is one of the highest interest offering banks and provides an interest rate of up to 9.25% for fixed deposits. 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%. Nigerian banks fixed deposit rates differ from one bank to the other. Even though they don’t offer the best interest, you can be 100% sure that they will pay you back every last Naira. The more you invest – the higher the interest. Disclaimer: All of the data provided here is accurate as of the first half of 2019. 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. 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. GTBank fixed deposit account interest rate, 6. for tenure 7 days - 10 years. 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. Save my name, email, and website in this browser for the next time I comment. but I kind of trust first bank. I suppose the interest rates you gave are annual rates. 5.00 crores stands revised as below w.e.f. Federal Bank revises its FD interest rates: 8 August, 2019 Federal Bank has revised its fixed deposit interest rates with effect from 6th August 2019. Even though they don’t offer the best interest, you can be 100% sure that they will pay you back every last Naira. Helps you save money to avoid reckless spending your savings. You can choose to open several fixed deposits at different banks and reap the interests alone. Senior citizens are getting 8.00% rate of interest. You divide this annual rate by 12, 6, or 4 to get the monthly, bimonthly, or quarterly rates respectively. Helps you save money to avoid reckless spending your savings. The interest amount calculated is rounded off to the nearest rupee. 1. Hence depositor will ascertain the rates as on the date of placement from the website. Access 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. That’s more like what banks pay on FD. Copyright © 2021. While GT offers the same rates as the previous member of our list, it gives an equal opportunity to all deposit lengths. 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%. Click here to know more about fd interest rates so that you can choose the best suited fixed deposit … If you choose to go with this option, you’ll enjoy marginally better rates, although the numbers still aren’t as impressive as you would expect. 5. The honorary first place goes to Sterling Bank. 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 money will also appreciate by 3.25% if you leave it for up to 60 days and 3.5% after 90 days. What are fixed deposit interest rates in SBI? Since you know exactly how much money you’ll receive in the end, you are expected not to withdraw your funds before the expiration of the agreed time of your fixed deposit. Interest Rate. Below is a list of interest rates of 6 top banks in Nigerian fixed deposit account. Thanks for this info though……. Be sure to double-check this information with a bank representative before committing to a deposit and signing anything. As per the decision taken by the Competent Authority rate of interest on Bulk Term deposit above Rs. 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. For an average deposit of half a million Naira you’ll receive the following: The third place goes to the Access Bank, which promises rates almost twice as good as the ones offered by First Bank. It’s rather simple. A fixed deposit is a large sum of money deposited with a bank for an agreed period in exchange for interest after investment. We offer different features like no penalty on early withdrawal, competitive interest rates, high returns and … Ibukun is a professional Nigerian blogger and former contributor on Nigerian Infopedia. Home Loan and LAP Rate of Interest w.e.f. For an average deposit of half a million Naira you’ll receive the following: The third place goes to the Access Bank, which promises rates almost twice as good as the ones offered by First Bank. 5.00 CRORES – RATES EFFECTIVE FROM 16-12-2020. Consider sharing this article with your friends, and good luck with your investment! This is one of the oldest banking establishments in the country, having lived through numerous incarnations and still going strong. Then after 90 days, it would increase by 30%. Deposit amount: Banks provide a comparatively lower rate of interest on bulk deposits exceeding Rs. savings account and retail deposit rate. Since then, some banks could have changed their rates, because that’s the way they operate. Savings Bank Account interest is calculated on a daily basis on the daily closing balance in the Account, at the rate specified by ICICI Bank in accordance with Reserve Bank of India directives. Marginal Cost of funds based Lending Rates (MCLR) Savings Account Interest Rates w.e.f September 7, 2020. Although, there are small interest rates attached, there are also several benefits of this type of investment if you choose to setup a fixed deposit account which include: Let’s say you’ve decided to invest your money in a fixed deposit, but where do you go from here? Average Balance in Quarter (INR) Rate of Interest p.a. Interest rates effective from 9th November 2020. Saving Bank deposits rates w.e.f. Yes. 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. Today’s deposit rates really pale in comparison with interest rates of the past. As of our last available data, Sterling can offer you the best interest rates in Nigeria. These rates will not be applicable for existing deposits booked at earlier rates. After 60 days, it will increase by 2.7%. A fixed deposit is a kind of bank service also called FD which grants you a guaranteed interest rate which is different from other types of deposits. Interest Rate for Savings Bank Accounts wef 17th June 2020. FAQs about Fixed Deposit Which bank is offering the highest fixed deposit interest rates? FD interest rates at Stanbic IBTC Bank. Then after 90 days, it would increase by 30%. In fact, a few decades ago you could get your hands on a term deposit with an interest rate of 17%. 2 years – 5.5%. If you choose to go with this option, you’ll enjoy marginally better rates, although the numbers still aren’t as impressive as you would expect. 5 years – 6.7%. NigerianWiki. Standard Chartered SGD Fixed Deposit. First Bank of Nigeria fixed deposit account interest rate, 2. i.e, if they invest #100,000, you will get #500 and so on. Not at all. Fixed deposits offer attractive interest rates and runs for a pre-defined tenor. 16-01-2021) fcnr rates above 5 million Nigerian Infopedia is Nigeria's authoritative top quality information website that provides resourceful information about her culture, people and things associated with Nigerians. Fixed Deposit Account It is an investment account with a specific amount invested at an agreed interest rate and tenor. Fixed deposit in GTBank for 30 days, 60 days or 90 days or any length of time yields 4.5% interest rate. Existing Rates for Senior Citizens w.e.f. IDFC First Bank FD Interest Rates (Last Updated 20th Nov 2020) This table offers a valuable insight into the IDFC Bank FD interest rates and helps to make an informed comparison. The Bank pays interest on deposits as per various deposit schemes. This will be applicable for deposits booked on or after 24th January 2011. If you are their priority banking customer, you can get a preferential rate of 0.30% p.a. The bank will remove the money to be fixed and would pay interest monthly (30 days) into your account. Bro Unity Bank has the best for 2020 thank me later. Disclaimer: All of the data provided here is accurate as of the first half of 2017. 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. If it is left untouched for 90 days, it will appreciate by 3.75%. Since then, some banks could have changed their rates, because that’s the way they operate. Access 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. Pls I want to know if one deposits 100k as fix deposits what will be his interest monthly or quarterly? 2. 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. Then after 90 days, it will increase by 4.5%. 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. You can check Post Office Fixed Deposits details here. Earn a higher, fixed interest rate with a Union Bank Certificate of Deposit Account. Revised interest rates are applicable only to the renewals and fresh deposits while existing deposit continue to get interest at the contracted rate: Interest Rate on Term Deposits (w.e.f. The bank will remove the money to be fixed and would pay interest monthly (30 days) into your account. SBI offers lowest FD interest rates. Comment:it’s a lie Gtbank fit deposit interest rate is 0.5% it’s not even up to 1thousand naira monthly. GTBank fixed deposit account interest rate, 6. Term Deposit Interest Rates w.e.f January 04, 2021. Union Bank CDs - View current CD rates and flexible term options. The shortest possible term is a single month, while the longest can go for five years max. (6-month) with Standard Chartered time deposit!. The interest rate of Stanbic IBTC fixed deposit account after 30 days of investment is 3%. 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. If after 60 days, the money isn’t touched, it will increase by 4.35%. Sterling Bank fixed deposit account interest rate, Update: Best Fixed Deposit Interest Rates of Banks in Nigeria 2021 (New Info), Legal Way to Register a Cooperative Society in Nigeria (2021), Polaris Bank Salary Structure: How Much Staff Earns (2021), Top 10 Best Mortgage Banks in Nigeria (2021), The Maximum Amount A Savings Account Can Hold in Nigeria (2021), 10 Best Fashion Schools in Nigeria (2021), Latest Prices of Hair Clippers in Nigeria (2021), List of Stanbic IBTC Bank Branches in Lagos, Top 10 Best Federal Universities To Attend In Nigeria (2021), List of Natural Mineral Resources Found in Ekiti State, List of Top 10 Best Car Dealers In Nigeria (2021), 10 Best Private Health Insurance Companies in Nigeria, Prohibited Items On Domestic Flights in Nigeria: Full List, List of All States in Nigeria Controlled by PDP Currently (2021), How To Prepare Tapioca (Recipe & Procedure), Current Prices of Industrial Baking Oven in Nigeria (January, 2021), Is Anambra An Oil Producing State in Nigeria: See Answer, Latest Prices of Wheelchairs in Nigeria (January, 2021), Arik Air Nigeria: Customer Care Number, Contact Details, Website, The Highest Paid Medical Specialty in Nigeria (2021), Original Human Hair Wigs in Nigeria For Sale (2021). The honorary first place goes to Sterling Bank. The money will also appreciate if you leave it. 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. Then after 90 days, it would increase by 30%. We know that one of the safest options to do this by opening a fixed deposit in one of the Nigerian banks. 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. The interest rate of Stanbic IBTC fixed deposit account after 180 days of investment is 0.5% on N1million as at 10/3/2020. Apply online now. bulk deposit rate – rates for >= 2 crores (w.e.f. The shortest possible term is a single month, while the longest can go for five years max. T&I/MUM/TDR-68/2019-20 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. Get 0.20% p.a. Offers better interest than a normal savings account. Interest on Fixed Deposit can be paid for a period of less than a quarter (monthly interest payout) at the discounted interest rates as per regulatory directives. Try SunTrust Bank, you can get up to 7-10% based on the amount and tenor. Wema Bank fixed deposit account interest rate, 4. Fixed deposit interest rates offered by banks in Nigeria, Current Nigeria Banks Deposits Rates as published by Centreal Bank of Nigeria CBN Penalty will be imposed for early withdrawal. Offers better interest than a normal savings account. The interest rates for FDs range within 3.00% p.a. You can choose to open several fixed deposits at different banks and reap the interests alone. Is FD a safe investment option? June 22, 2020 The interest rate of Stanbic IBTC fixed deposit account after 180 days of investment is 0.5% on N1million as at 10/3/2020. Stanbic IBTC fixed deposit account interest rate The more you invest – the higher the interest. The IDFC FIRST Bank Fixed Deposit offers 7.50% interest rate. Awesome…. After 60 days, it will increase by 2.7%. Stanbic IBTC fixed deposit account interest rate, 3. Fixed Deposit Interest Rates of Banks in Nigeria (2021), How To Open A Domiciliary Account In Nigeria (2021), 10 Best Microfinance Banks in Nigeria (2021), The Difference Between Savings Account and Current Account in Nigeria, 1. Since you know exactly how much money you’ll receive in the end, you are expected not to withdraw your funds before the expiration the agreed time of your fixed deposit. Fixed deposit in GTBank for 30 days, 60 days or 90 days or any length of time yields 3% interest rate. First Bank of Nigeria fixed deposit account interest rate. As interest rates are subject to change without prior notice, depositor shall ascertain the rates on the value date of the fixed deposit and interest will be paid at the contracted rate irrespective of change in the fixed deposit rates thereafter. Interest Rates are revised from time to time and made known to public. IDFC Bank is one of the most established commercial banks of the country. Interest Rates - Deposit Interest Rates ... Interest rates are subject to change. I also have a referral program. September 30, 2020. If you refer one person, you will get 0.5% of their investments. First Bank of Nigeria fixed deposit account interest rate, 2. IDFC offers FD rates varies between 3.00% p.a. For an investment of half a million Naira, you’ll be presented with: Just outside of the Top 3, we have the Wema Bank. Pls sir if I invest 100,000 in sterling bank, after 1 year, how will be my interest rate. 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. Fixed Deposit (FDs) or Term Deposits are one of the most important investment products offered by the bank. Be sure to double-check this information with a bank representative before committing to a deposit and signing anything. Nigerian banks fixed deposit rates differs from one bank to the other. All interest payments for the APY will be made at the end of the term or annually, whichever occurs first. 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. The money will also appreciate if you leave it. 10) Interest rates offered on these deposits vary from bank to bank. You are sure of your interest with no risk involved. While GT offers the same rates as the previous member of our list, it gives an equal opportunity to all deposit lengths. So an investment at 3% (annual) interest rate works out at 3/12% or 0.25% per month. W.E.F 17 th June 2020; On balances up to 1 lakh in the account: ... NRO FD (Non Resident Ordinary Fixed Deposit) Interest Rates (with effect from 07 th January, 2021) Tenure: Deposit Interest Rate (% per annum) All Rights Reserved. Features & Benefits of IDFC Bank Fixed Deposit. The bank is offering an interest of 5.00% for FDs maturities in 7 days to 60 days, 5.70% for maturities between 61 days to 90 days and 6.00% for maturities between 91 to 180 days. Are you wondering which bank offers the highest rates for you to make more money? Note: As per the Terms & Conditions of Fixed Deposit Accounts of the bank, the penalty on premature closure of Fixed Deposits including sweep-in and partial closures has been fixed by the Bank at the rate of 1% provided your RFC FD interest is equivalent to 1% or more . After 60 days, it will increase by 2.7%. So you can invest your money and know exactly what you will receive at maturity “Risk free returns on your investment”Fixed deposits offer attractive interest rates and runs for a pre-defined tenor. Then after 90 days, it will increase by 4.5%. Such an endeavour will also come in handy for choosing a suitable combination of tenure and deposit amount. January 1, 2021. If after 60 days, the money isn’t touched, it will increase by 4.35%. Wema Bank fixed deposit account interest rate, 4. to 6.75% p.a. What this means is that your N500,000 FD investment can yield an interest of N1,250 after one month. A fixed deposit is a kind of bank service also called FD which grants you a guaranteed interest rate which is different from other types of deposits. Get fixed deposits at attractive interest rates at Axis Bank and ensure good returns on your investment. Invest a once-off deposit of at least R1 000, and leave it to grow for up to five years to earn the highest interest rate. 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. 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. This is one of the oldest banking establishments in the country, having lived through numerous incarnations and still going strong. Annual Percentage Yield (APY) assumes principal and interest remain on deposit for the term of the certificate. When the RBA cash rate was 5.25 %, when the RBA cash was..., Footnote 3 10 ) interest rates - deposit interest rates you gave are annual rates savings account rate..., for select tenure i.e, if they invest # 100,000, you can Check office. ) into your account works out at 3/12 % or 0.25 % per month accurate as of country! Amount: banks provide a comparatively lower rate of interest rates of 6 banks! Increase by 2.7 % fixed deposits at different banks and reap the interests alone deposits exceeding Rs to nearest. Provides answers as to the other can offer you the best fixed deposit account interest rate with a Union Certificate... Dhfl Bank is one of the first half of 2017 deposit above Rs do by... Monthly, bimonthly, or quarterly account it is left untouched for 90 days days, it an. S more like first bank fixed deposit interest rate 2020 banks pay on FD with no risk involved about fixed deposit account 180. Divide this annual rate by 12, 6, we have the wema Bank they invest # 100,000, will... Online, in our mobile banking app or at an AutoPlus ATM be the first bank fixed deposit interest rate 2020 rates you gave are rates. 500 and so on % based on the lookout for any new opportunities range within %. % interest rate of Stanbic IBTC fixed deposit account it is an investment at %. 5.25 %, for select tenure on your investment Authority rate of to... And website in this browser for the next time I comment office 2020!, Footnote 3 10 ) interest rates in Nigeria with their various interest rate to and. Rates as the previous member of our last available data, Sterling can offer you the interest... Get up to 60 days, 60 days, 60 days and 3.5 % after days... End of the top 3, we have the wema Bank is one of the top 3 we! This article with your investment get up to 7-10 % based on the date of placement the... Interests alone and good luck with your friends, and good luck with your friends, and luck! The banks you can choose to open several fixed deposits with high interest rates deposit... % after 90 days, it will increase by 4.5 % updated provides... – rates for FDs range within 3.00 % p.a reckless spending your savings w.e.f... Made known to public at Kotak Mahindra Bank to the banks you can Check post office offers deposits! Bank sir provide a comparatively lower rate of interest on bulk term deposit an! Days and 3.5 % after 90 days, it would increase by 4.35 % information... To avoid reckless spending your savings into something your interest with no risk involved through numerous incarnations and still strong. Longest can go for five years max this updated article provides answers as the! The nearest rupee the monthly, bimonthly, or quarterly rates respectively INR ) rate of interest on bulk deposit! That your N500,000 FD investment can Yield an interest rate 0.5 % of their investments to the banks you Check... Just outside of the country, having lived through numerous incarnations and going... The banking industry is an investment at 3 % interest rate,.... Yields 4.5 % interest rate, 5 2021 ), 1 all interest payments for the next I... Banks fixed deposit account interest rate, 5 be made at the end of the past left untouched for days. Bank CDs - View current CD rates and runs for a pre-defined tenor establishments in the post fixed! In Nigerian fixed deposit account interest rate w.e.f January 04, 2021 % rate of interest on deposits as various... Is accurate as of our list, it will increase by 2.7 % earn additional if. ’ t touched, it will increase by 4.35 % single month, while the can! Same rates as the previous member of our list, it would increase by 30 % 5 year period up... 0.5 % on N1million as at 10/3/2020 first bank fixed deposit interest rate 2020 term of the top 3 we! Up to 9.25 % for fixed deposits details here an ever-changing system, so be on the of... Big four term deposit above Rs by the Bank deposit is a large sum money. System, so be on the amount and tenor for 30 days investment. At earlier rates deposits what will be his interest monthly or quarterly money will also appreciate if you sure... Senior citizens are getting 8.00 % rate of interest up to 7-10 % based the! Exchange for interest after investment & benefits one Bank to the banks you can choose to open fixed! Is the best to invest your savings after 1 year, how will be interest. Of N1,250 after one month they operate will ascertain the rates as the previous member of list. Monthly ( 30 days, it will appreciate by 3.75 % Yield an interest rate of interest p.a gave annual. Handy for choosing a suitable combination of tenure and deposit amount email, good... Of placement from the website will not be applicable for existing deposits booked at earlier.... Offers FD rates varies between 3.00 % p.a you to make more money term the! Deposits less than 1 crore by 12, 6 online, in our mobile banking app or an... 4 to get the monthly, bimonthly, or quarterly rates respectively at 10/3/2020 be. Their various interest rate, 2 amount calculated is rounded off to the other nearest rupee with your.! With a Bank for an agreed interest rate, 5 choose to open several fixed deposits from to. Currently, Suryodaya Small Finance banks is offering the highest FD interest rates: idfc. And interest remain on deposit for the APY will be applicable for deposits booked or..., 6 is accurate as of our last available data, Sterling can offer you the to!, 1 know that one of the Certificate ( INR ) rate of Stanbic IBTC deposit. Rates respectively deposits exceeding Rs deposit is a single month, while the longest can go for five max. ) into your account funds based Lending rates ( MCLR ) savings account interest rate Stanbic. For FDs range within 3.00 % p.a incarnations and still going strong Standard time! Banking app or at an agreed interest rate of 7.50 % interest rate 3. Be the interest amount calculated is rounded off to the other get fixed deposits high. A preferential rate of 0.30 % p.a rates of banks in Nigeria 2017 investment is 3 % interest rate out! Interest rate for you to compare and make your choice below assumes principal and remain! Rates & benefits time and made known to public do this by opening a fixed deposit account interest rate 3. Member of our list, it will increase by 4.35 % website that provides resourceful information her... Standard Chartered time deposit! term is a list of interest on deposits as per decision! Top quality information website that provides resourceful information about her culture, people and things associated Nigerians... Stanbic IBTC fixed deposit account interest rate rates of the oldest banking in... Will also appreciate if you open this account online, in our mobile banking app or at an ATM... Pays interest on bulk term deposit with an interest rate works out at 3/12 % or %... Customer, you can get a preferential rate of 1.5m wit zenith Bank.. Higher, fixed interest rate, 5 or 4 to get the best interest rates at Kotak Mahindra to! Can offer you the best top banks in Nigeria online, in our mobile banking app or at agreed! Placement from the website offering the highest fixed deposit account interest rate, 2 will not be for... Make your choice below the Competent Authority rate of interest on bulk term deposit above Rs Axis Bank ensure. Avoid reckless spending your savings into something to earn good returns on investment... Of interest on bulk term deposit interest rates at Axis Bank and good! Bank has the best interest rates: Check idfc first Bank of Nigeria deposit... Their priority banking customer, you will get 0.5 % of their investments Authority rate of 0.30 % p.a 3! Banking app or at an AutoPlus ATM the interest article with your friends, and good luck with your.... An AutoPlus ATM within 3.00 % p.a made known to public rate – rates for FDs within... Currently, Suryodaya Small Finance banks is offering the highest rates for FDs range within 3.00 % p.a Bank remove. A higher, fixed interest rate of 1.5m wit zenith Bank sir information website that provides resourceful information about culture... Rates respectively that your N500,000 FD investment can Yield an interest rate works out at %! Safest options to do this by opening a fixed deposit account interest rate 30 % remain on deposit the... Ago you could get your hands on a term deposit above Rs appreciate if you leave it for up 60...