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Deposit Interest Rate in Nigeria

Deposit Interest Rate in Nigeria

Indicator Data Period
Deposit Interest Rate 8.45 % Nov/22


Latest data on Deposit Interest Rate (%)

Deposit Interest Rate
                     Nigeria - Historical Data (%)

What is average deposit bank interest rate in Nigeria?

  • Bank Deposit Interest Rate in Nigeria increased to 8.45 % in November 2022. The maximum rate was 27 % and minimum was 2 %.
  • Data published Monthly by World Bank.

Historical Data (%) by years

Data
Period
Date
8.45 Nov/22 09.01.2023
8.01 Oct/22 05.12.2022
6.99 Sep/22 02.11.2022
6.79 Aug/22 24.09.2022
4.96 Jul/22 27.08.2022
4.55 Jun/22 23.07.2022
4.44 Apr/22 11.06.2022
4.41 Mar/22 30.04.2022


Historical Chart by presidents (%)

Deposit Interest Rate in Nigeria by presidents

Name Period Start Data End Data Max Value Min Value CHG% Start/End

Other money indicators in Nigeria

Index Updated Actual Previous
Interbank Rate Feb/23 13.8 % 13.8
Interest Rate Jan/23 17.5 % 16.5
Money Supply M1 Dec/22 44.916 B USD 46.689
Foreign Direct Investment 2Q/22 -1.59 B USD -0.182
Private Sector Credit  Dec/22 90.763 B USD 90.284

Deposit Interest Rate in other countries

Country Updated Actual Previous
Kenya 2021 6.69 % 6.97
Madagascar Aug/22 13 % 13
Tanzania 3Q/19 7.5 % 7.3
Togo 2017 6.49 % 6.93
Nigeria Nov/22 8.45 % 8.01
Morocco 2021 2.6 % 2.9
Senegal 2017 6.49 % 6.93
Seychelles 2021 2.86 % 3.48
South Africa Nov/22 5.99 % 5.71
Uganda Dec/22 10.72 % 10.7
Rwanda 2021 8.05 % 7.64
Zambia Jun/21 8.11 % 8.22
Namibia 2021 4.02 % 4.16
Swaziland 2021 1.78 % 2.47
Libya 2014 2.5 % 2.5
Algeria Dec/22 1.75 % 1.75
Angola 2021 7.05 % 6.2
Benin 2017 6.49 % 6.93
Botswana Nov/22 1.53 % 1.43
Burkina Faso 2017 6.5 % 6.9
Central African Republic 2017 2.45 % 2.45
Chad 2017 2.45 % 2.45
Comoros 2021 1.75 % 1.75
Republic of the Congo 2017 2.45 % 2.45
Djibouti 2017 1.65 % 1.5
Equatorial Guinea 2017 2.45 % 2.45
Gabon 2017 2.45 % 2.45
Gambia 2Q/19 9 % 9
Guatemala 2021 4.14 % 4.63
Guinea Bissau 2017 6.49 % 6.93
Lesotho 2022 3.48 % 3.48
Mali 2017 6.5 % 6.9
Niger 2017 6.49 % 6.93
Sao Tome and Principe 2Q/19 3.36 % 3.28
Sierra Leone 2023 12.25 % 11