Deposit Interest Rate in Nigeria increased to 4.80 percent in August from 4.78 percent in July of 2021. source: Central Bank of Nigeria

Deposit Interest Rate in Nigeria averaged 9.46 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 December of 2021.

Deposit Interest Rate in Nigeria is expected to be 5.02 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Deposit Interest Rate in Nigeria is projected to trend around 6.02 percent in 2022 and 6.52 percent in 2023, according to our econometric models.

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Deposit Interest Rate in Nigeria

Related Last Previous Unit Reference
Interest Rate 11.50 11.50 percent Nov/21
Cash Reserve Ratio 27.50 27.50 percent Dec/21
Interbank Rate 11.98 11.98 percent Dec/21
Money Supply M1 16553042.48 15948090.75 NGN Million Oct/21
Money Supply M0 2965985.43 2837063.77 NGN Million Oct/21
Money Supply M2 41369902.01 40414584.97 NGN Million Oct/21
Foreign Exchange Reserves 41280.00 41750.00 USD Million Nov/21
Deposit Interest Rate 5.02 4.80 percent Oct/21
Money Supply M3 41370835.30 40450136.09 NGN Million Oct/21
Lending Rate 11.61 11.73 percent Oct/21
Deposit Interest Rate in Nigeria
The Deposit Interest Rate is Nigeria refers to Weighted Average 3 Month Deposit Rates in Commercial Banks.