Deposit Interest Rate in Nigeria

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.

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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

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Country	Last		Previous	Range
Argentina	49.58	May/19	49.58	85.38 : 0	%
Turkey	22.50	Apr/19	22.5	398 : 1.5	%
South Africa	7.12	Feb/19	7.16	21.6 : 5.08	%
Brazil	6.19	Mar/19	5.7	54180 : 5.66	%
Russia	6.12	Mar/19	6.24	102 : 5	%
Indonesia	5.25	May/19	5.25	56 : 3	%
Mexico	3.69	Feb/19	3.71	126 : 0.55	%
Saudi Arabia	3.40	May/19	3.4	9.04 : 0.5	%
South Korea	2.07	Feb/19	2.15	19.5 : 1.37	%
Australia	1.85	Apr/19	1.85	17.25 : 1.85	%
Canada	1.81	May/19	1.81	22.06 : 0.1	%
United Kingdom	0.50	May/19	0.5	4.25 : 0	%
China	0.35	Apr/19	0.35	3.15 : 0.35	%
Singapore	0.20	Apr/19	0.2	12.8 : 0.13	%
Japan	-0.21	May/19	-0.2	16.25 : -0.51	%
Switzerland	-0.31	Mar/19	-0.31	9.75 : -0.34	%
Euro Area	-0.40	Apr/19	-0.4	3.75 : -0.4	%