Deposit Interest Rate in Nigeria decreased to 9.44 percent in September from 9.51 percent in August of 2018. Deposit Interest Rate in Nigeria averaged 9.64 percent from 1970 until 2018, 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 9.44 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 8.94 in 12 months time. In the long-term, the Deposit Interest Rate in Nigeria is projected to trend around 7.44 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 14.00 14.00 14.00 6.00 percent [+]
Cash Reserve Ratio 22.50 22.50 31.00 1.00 percent [+]
Money Supply M0 1956009.42 1926382.16 2179174.28 193939.30 NGN Million [+]
Money Supply M1 11130260.91 10681493.86 11271506.82 396991.90 NGN Million [+]
Money Supply M2 25713707.60 25277071.26 25713707.60 648506.60 NGN Million [+]
Foreign Exchange Reserves 41992.00 42128.00 62081.86 63.22 USD Million [+]
Deposit Interest Rate 9.44 9.51 27.00 2.00 percent [+]
Lending Rate 16.53 16.59 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 December of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
9.44 9.51 27.00 2.00 1970 - 2018 percent Monthly




Country Last Previous
Turkey 22.50 Nov/18
Argentina 21.55 Dec/17
Brazil 8.51 Dec/17
South Africa 7.25 Dec/17
Indonesia 5.25 Nov/18
Russia 5.21 Sep/18
Saudi Arabia 3.13 Dec/18
Mexico 2.70 Dec/17
Australia 1.90 Nov/18
South Korea 1.67 Dec/17
United Kingdom 0.50 Sep/18
China 0.35 Nov/18
Japan 0.32 Dec/17
Singapore 0.14 Dec/17
Canada 0.10 Dec/17
Switzerland -0.32 Oct/18
Euro Area -0.40 Oct/18


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