Frequent question: Which bank pays the highest interest in Nigeria?

Fidelity Bank currently offers the highest interest rates for savings deposit accounts (target) in Nigeria in 2021 – 2.9%. The current Fidelity Bank HYSA savings accounts interest yield tandem the highest volume, is actually the highest observed.

Which bank in Nigeria has the highest fixed deposit interest rate?

Fixed Deposits Interest Rates of Nigerian Banks May 14, 2021

S/N NAME OF BANK Time Deposit
1 Access Bank 5.57
2 Citi Bank Nigeria 0.70
3 Coronation Merchant Bank 5.58
4 Ecobank Nigeria 4.33

Which bank is paying the highest interest rate on fixed deposit?

Fixed Deposit Interest Rates by Different Banks

Bank Tenure Interest rate
ICICI Bank 7 days to 10 years 4% to 7.25%
Punjab National Bank 7 days to 10 years 5.70% to 6.85%
HDFC Bank 7 days to 10 years 3.5% to 7.40%
Axis Bank 7 days to 10 years 3.5% to 7.25%

Which bank is safe for fixed deposit?

Top 15 Banks and Their Interest Rates

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Bank List For Regular Customers (% p.a.) For Senior Citizens (% p.a.)
ICICI Bank 2.50% – 5.35% 3.00% – 5.85%
State Bank of India 2.90% – 5.40% 3.40% – 6.20%
Axis Bank 2.50% – 5.75% 2.50% – 6.50%
Punjab National Bank 3.00% – 5.30% 3.50% – 5.80%

Is fixed deposit a good investment in Nigeria?

Advantages of Fixed Deposit Investment

Provides a higher rate compared to a Savings deposit. Guaranteed returns – The returns from this investment is guaranteed. Highly liquid – The money can be terminated to fund short term liquidity needs.

Where can I get 5% interest on my money?

There are two companies – Insight and Netspend – that offer prepaid debit cards that also come with FDIC insured savings accounts that earn 5% interest. They take some work to set up, but once you go through that process, the accounts run themselves.

Where can I get the highest interest on my money?

  1. Open a high-interest online savings account. You don’t have to settle for cents of interest that you may get from a traditional brick-and-mortar bank’s regular savings account. …
  2. Switch to a high-yield checking account. Some checking accounts have high rates, with some hoops. …
  3. Build a CD ladder. …
  4. Join a credit union.


Which bank is best for monthly interest?

Interest rates on Monthly Income FD Schemes

Top banks monthly income FD interest rates
Bank Interest rate Tenure range
Kotak Mahindra Bank 4.50% to 5.25% 365 days to 389 days
IDFC FIRST Bank 5.25% to 7.00% 181 days to less than 1 year
Union Bank of India 4.50% 181 days to less than 1 year
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Is FD interest paid monthly?

Can we get monthly interest on Fixed Deposit? Yes. You can get a monthly interest payout, if you choose periodic payouts, and select monthly frequency. When you invest your money in FDs, you gain interest on your principal amount, which can be obtained periodically.

Is FD a good option?

Is FD a good investment? Ans. A fixed deposit is a low-risk, low-return investment option ideal for highly conservative and risk-averse investors.

What is the interest of 1 lakh?

Fixed deposit payout structure in India

100 to Rs. 10,000 on the higher end. In the current Indian market, a typical monthly interest rate for 1 Lakh fixed deposit can vary from 5% to 7.5% per annum. The 1 lakh interest per month you could earn this way would be substantial.

What is the best investment in Nigeria?

Here are the most lucrative investment opportunities in Nigeria:

  1. Agriculture. Nigeria’s population is estimated to be over 200 million. …
  2. Real Estate. Real Estate in one of the most profitable investment opportunities in Nigeria. …
  3. Oil and Gas. …
  4. Mining. …
  5. Manufacturing Industry. …
  6. FGN Savings Bond. …
  7. Stocks. …
  8. Fixed deposit.

Which bank is best for fixed deposit in Nigeria 2021?

Which bank in Nigeria has the highest fixed rate, the answer is Stanbic ibtc bank. You can get interest rate up to 13.75% for N1b fixed with the bank. The one i love so much is that stanbic IBTC bank offers 12.50% for 365 days for N100,000 and 12.25% for 180 days. This is what Gtbank is offering for 4.50% for 180 days.

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How can I withdraw money from fixed deposit?

1. On Mobile Banking

  1. Go to Banking.
  2. Select Fixed/ Recurring Deposits.
  3. Select Premature withdrawal.
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