The Central Bank of Nigeria (CBN) has released updated savings deposit interest rates across various Deposit Money Banks (DMBs).
The average rate has increased to 8.03%, up from the previous 7.88%.
A savings rate is the interest that banks offer to customers for saving money, and this rate varies across banks.
Here’s a breakdown of the new rates:
- Access Bank: 8.03%
- Citibank: 7.88%
- Ecobank: 8.03%
- FCMB: 1.15%
- Fidelity Bank: 8.03%
- First Bank: 8.03%
- Globus Bank: 1.40%
- GTB: 5.55%
- Keystone Bank: 8.03%
- Optimus: 6.83%
- Polaris: 8.03%
- Premium Trust: 8.03%
- Providus Bank: 8.03%
- Signature Bank: 6.63%
- Stanbic IBTC: 2.68%
- Standard Chartered Bank: 8.03%
- Sterling Bank: 8.03%
- SunTrust: 8.00%
- Titan Trust Bank: 8.03%
- UBA: 8.03%
- Union Bank: 8.03%
- Unity Bank: 8.03%
- Wema Bank: 8.03%
- Zenith Bank: 8.03%
These rates reflect the interest earned on savings deposits at different banks in Nigeria.
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