Deposit Interest Rate in Nigeria increased to 6.79 percent in August from 4.96 percent in July of 2022. source: Central Bank of Nigeria

Deposit Interest Rate in Nigeria averaged 9.38 percent from 1970 until 2022, 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 September of 2022.

Deposit Interest Rate in Nigeria is expected to be 6.79 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 7.29 percent in 2023 and 4.29 percent in 2024, according to our econometric models.

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Deposit Interest Rate in Nigeria



Related Last Previous Unit Reference
Interest Rate 15.50 14.00 percent Sep 2022
Cash Reserve Ratio 27.50 27.50 percent Sep 2022
Interbank Rate 13.69 13.69 percent Sep 2022
Money Supply M1 21436163.98 20372771.97 NGN Million Aug 2022
Money Supply M0 3210664.98 3242600.24 NGN Million Aug 2022
Money Supply M2 49305842.28 48258489.56 NGN Million Aug 2022
Foreign Exchange Reserves 39180.00 39250.00 USD Million Aug 2022
Deposit Interest Rate 6.79 4.96 percent Aug 2022
Lending Rate 9.00 12.10 percent Sep 2022
Money Supply M3 49356443.64 48259383.42 NGN Million Aug 2022

Deposit Interest Rate in Nigeria
The Deposit Interest Rate is Nigeria refers to Weighted Average 3 Month Deposit Rates in Commercial Banks.
Actual Previous Highest Lowest Dates Unit Frequency
6.79 4.96 27.00 2.00 1970 - 2022 percent Monthly