Deposit Interest Rate in Nigeria increased to 8.45 percent in November from 8.01 percent in October of 2022. source: Central Bank of Nigeria

Deposit Interest Rate in Nigeria averaged 9.37 percent from 1970 until 2022, reaching an all time high of 27.00 percent in September of 1993 and a record low of 2.00 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 January of 2023.

Deposit Interest Rate in Nigeria is expected to be 8.45 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 5.95 percent in 2024, according to our econometric models.

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Deposit Interest Rate in Nigeria

Related Last Previous Unit Reference
Interest Rate 17.50 16.50 percent Jan 2023
Cash Reserve Ratio 32.50 32.50 percent Jan 2023
Interbank Rate 11.90 11.90 percent Jan 2023
Money Supply M1 21503412.00 21323643.56 NGN Million Nov 2022
Money Supply M0 3164256.76 3298786.78 NGN Million Nov 2022
Money Supply M2 51784485.54 50577358.02 NGN Million Nov 2022
Foreign Exchange Reserves 37080.00 37120.00 USD Million Dec 2022
Deposit Interest Rate 8.45 8.01 percent Nov 2022
Money Supply M3 51785745.45 50578604.15 NGN Million Nov 2022
Lending Rate 13.17 12.23 percent Nov 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
8.45 8.01 27.00 2.00 1970 - 2022 percent Monthly