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 November of 2021.

Deposit Interest Rate in Nigeria is expected to be 10.19 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 5.80 percent in 2022 and 6.30 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 Sep/21
Cash Reserve Ratio 27.50 27.50 percent Nov/21
Interbank Rate 12.43 12.43 percent Nov/21
Money Supply M1 15948090.75 16408026.85 NGN Million Sep/21
Money Supply M0 2837063.77 2778706.01 NGN Million Sep/21
Money Supply M2 40414584.97 40744532.18 NGN Million Sep/21
Foreign Exchange Reserves 41750.00 36260.00 USD Million Oct/21
Deposit Interest Rate 4.80 4.78 percent Aug/21
Lending Rate 11.62 11.57 percent Aug/21
Money Supply M3 39789168.03 39435900.44 NGN Million Jul/21
Deposit Interest Rate in Nigeria
The Deposit Interest Rate is Nigeria refers to Weighted Average 3 Month Deposit Rates in Commercial Banks.