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Posted by Felix Okoli on Thursday December 13, 2012 at 10:32:38:

If you've got or intend having a savings account in a Nigerian bank and concerned about how much interest your savings actually earns you, then it would be wise to take a look at some of the top banks that offer the highest interest on a savings account.

According to a CBN report on the Average Deposit and lending rates of banks as at August 2012 as published on the CBN website here

5 Banks with Highest rates on savings
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1. Standard chartered 3.5
2. Diamond bank 3.3
3. Fidelity 3.0
4. Unity 3.0
5. Sterling 2.5

Low paying bank rates for savings
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Skye bank offered the lowest rates at about 0.04 followed by the trio of First bank, Access bank and UBA which offered just 1% on savings

So now you know which banks pay you more for your savings and the ones that pay less.

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Comments:

1
Re: Top 5 Nigerian banks with the highest interest on savings Reply by Ariyo Moses on Monday September 2, 2013 at 11:28:16:

Hi felix, pls what is the minimum amount to open a saving account in diamond bank?




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2
Re: Top 5 Nigerian banks with the highest interest on savings Reply by Felix Okoli on Monday September 2, 2013 at 11:28:16:

As at now, you only need at least N1000 to open a basic diamond bank savings account


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3
Re: Top 5 Nigerian banks with the highest interest on savings Reply by Lawal on Sunday September 22, 2013 at 20:11:0:

hello. felix are interest on saving account paid monthly or annually




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Re: Top 5 Nigerian banks with the highest interest on savings Reply by Felix Okoli on Sunday September 22, 2013 at 20:11:0:

They are paid monthly but calculation is based on an annual basis.


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5
Re: Top 5 Nigerian banks with the highest interest on savings Reply by Omen Emmanuel on Monday December 9, 2013 at 5:17:23:

Just wanna compliment you Felix for a job well done. My quesion is:Do banks really pay this interest on savings acct?




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Re: Top 5 Nigerian banks with the highest interest on savings Reply by Felix Okoli on Monday December 9, 2013 at 5:17:23:

Of course they do because at the end of the month, I normally receive a credit alert on my saving account.


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Re: Top 5 Nigerian banks with the highest interest on savings Reply by Josh Melvin on Saturday January 11, 2014 at 9:23:15:

Does the interest increases annually in savings acc.?




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8
Re: Top 5 Nigerian banks with the highest interest on savings Reply by Felix Okoli on Saturday January 11, 2014 at 9:23:15:

It can increase or decrease depending on the economic condition


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9
Re: Top 5 Nigerian banks with the highest interest on savings Reply by Felix Okoli on Thursday July 3, 2014 at 8:46:30:

Update: As at May 9 2014, Heritage(3.99%) and Wema(3.71%) offered the highest rates. Other banks offered 3.60% with the exception of Stanbic IBTC, Keystone and Unity bank which offered 3.59%, 3.24% and 3.00% respectively




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Comments:
Re: Top 5 Nigerian banks with the highest interest on savings Reply by Valentine on Monday December 21, 2015 at 7:15:12:

Thank you very much for your enlightenment.I really do appreciate.Thanks.

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