Deposit Interest Rate in Nigeria decreased to 3.05 percent in March from 3.13 percent in February of 2021. source: Central Bank of Nigeria

Deposit Interest Rate in Nigeria averaged 9.50 percent from 1970 until 2021, reaching an all time high of 27 percent in September of 1993 and a record low of 2 percent in April of 1976. This page includes a chart with historical data for Deposit Interest Rate in Nigeria. Deposit Interest Rate in Nigeria - values, historical data and charts - was last updated on June of 2021.

Deposit Interest Rate in Nigeria is expected to be 3.05 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Deposit Interest Rate in Nigeria to stand at 4.05 in 12 months time. In the long-term, the Deposit Interest Rate in Nigeria is projected to trend around 4.05 percent in 2022 and 4.55 percent in 2023, according to our econometric models.

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Deposit Interest Rate in Nigeria

Actual Previous Highest Lowest Dates Unit Frequency
3.05 3.13 27.00 2.00 1970 - 2021 percent Monthly

Nigeria Money Last Previous Highest Lowest Unit
Interest Rate 11.50 11.50 14.00 6.00 percent [+]
Cash Reserve Ratio 27.50 27.50 31.00 1.00 percent [+]
Money Supply M0 2796471.37 2808734.33 2908462.40 38580.37 NGN Million [+]
Money Supply M1 15996570.46 16186615.62 16551196.56 74220.52 NGN Million [+]
Money Supply M2 38382883.36 38026970.91 38382883.36 648506.60 NGN Million [+]
Foreign Exchange Reserves 34250.00 34940.00 62081.86 63.22 USD Million [+]
Deposit Interest Rate 3.05 3.13 27.00 2.00 percent [+]
Lending Rate 11.13 11.21 37.80 6.00 percent [+]


Deposit Interest Rate in Nigeria
The Deposit Interest Rate is Nigeria refers to Weighted Average 3 Month Deposit Rates in Commercial Banks.