Deposit Interest Rate in Nigeria increased to 9.69 percent in January from 9.50 percent in December of 2018. Deposit Interest Rate in Nigeria averaged 9.64 percent from 1970 until 2019, reaching an all time high of 27 percent in September of 1993 and a record low of 2 percent in April of 1976.

Deposit Interest Rate in Nigeria is expected to be 9.69 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 9.69 in 12 months time. In the long-term, the Deposit Interest Rate in Nigeria is projected to trend around 9.94 percent in 2020, according to our econometric models.

Deposit Interest Rate in Nigeria
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Forecast Data Chart
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Nigeria Money Last Previous Highest Lowest Unit
Interest Rate 13.50 13.50 14.00 6.00 percent [+]
Cash Reserve Ratio 22.50 22.50 31.00 1.00 percent [+]
Money Supply M0 2158698.81 2153220.11 2329706.58 193939.30 NGN Million [+]
Money Supply M1 11252429.94 10945250.06 11751139.21 396991.90 NGN Million [+]
Money Supply M2 35167529.95 33809565.11 35167529.95 648506.60 NGN Million [+]
Foreign Exchange Reserves 44790.00 44140.00 62081.86 63.22 USD Million [+]
Deposit Interest Rate 9.69 9.50 27.00 2.00 percent [+]
Lending Rate 18.23 14.92 37.80 6.00 percent [+]
Money Supply M3 35116968.08 34255438.69 35116968.08 10478417.29 NGN Million [+]


Deposit Interest Rate in Nigeria

The Deposit Interest Rate is the average rate paid by commercial banks to individuals or corporations on deposits. This page includes a chart with historical data for Deposit Interest Rate in Nigeria. Deposit Interest Rate in Nigeria - actual data, historical chart and calendar of releases - was last updated on May of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
9.69 9.50 27.00 2.00 1970 - 2019 percent Monthly




Country Last Previous
Argentina 49.58 May/19
Turkey 22.50 Apr/19
South Africa 7.12 Feb/19
Brazil 6.19 Mar/19
Russia 6.12 Mar/19
Indonesia 5.25 May/19
Mexico 3.69 Feb/19
Saudi Arabia 3.40 May/19
South Korea 2.07 Feb/19
Australia 1.85 Apr/19
Canada 1.81 May/19
United Kingdom 0.50 May/19
China 0.35 Apr/19
Singapore 0.20 Apr/19
Japan -0.21 May/19
Switzerland -0.31 Mar/19
Euro Area -0.40 Apr/19


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