December 2015: Top 10 Nigerian banks with the highest interest rate on Fixed dep

Posted by Felix Okoli on Wednesday December 9, 2015 at 21:43:6:

According to a publication v recently made by the CBN on for December 5 2015, here are top 10 Nigerian banks with the highest interest rate on Fixed deposit accounts:

1. Standard Chartered Bank = 14%
2. Wema Bank = 11.93%
3. Heritage Bank = 11.48%
4. Keystone Bank LTD = 10.66%
5. Fidelity Bank = 10.50%
6. Skye Bank = 10.48%
7. Access Bank = 10.11%
8. Diamond Bank = 10.03%
* 9. Ecobank Nigeria = 9.97%
* 9. United Bank for Africa = 9.97%
10. Sterling Bank = 8.11%

* Both banks tied at 9

From the list, we can see that Standard chartered offered the highest interest rate for this period while Sterling offered the lowest but it's still a good enough offer.

Fixed deposit accounts are special accounts that allow you to keep your money in a bank and earn a higher interest rate doing so. It normally requires a higher amount of capital than normal saving accounts and is meant to be kept fixed without making a withdrawal for a pre-agreed time period so as to be qualified to earn the higher interest rate.