Deposit Interest Rate in Nigeria decreased to 8.70 percent in October from 8.96 percent in September of 2019. Deposit Interest Rate in Nigeria averaged 9.63 percent from 1970 until 2019, reaching an all time high of 27 percent in September of 1993 and a record low of 2 percent in April of 1976.

Deposit Interest Rate in Nigeria is expected to be 8.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Deposit Interest Rate in Nigeria to stand at 8.70 in 12 months time. In the long-term, the Deposit Interest Rate in Nigeria is projected to trend around 8.20 percent in 2020, according to our econometric models.

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Deposit Interest Rate in Nigeria

Actual Previous Highest Lowest Dates Unit Frequency
8.70 8.96 27.00 2.00 1970 - 2019 percent Monthly

Deposit Interest Rate in Nigeria
The Deposit Interest Rate is Nigeria refers to Weighted Average 3 Month Deposit Rates in Commercial Banks.

Nigeria Money Last Previous Highest Lowest Unit
Interest Rate 13.50 13.50 14.00 6.00 percent [+]
Cash Reserve Ratio 27.50 22.50 31.00 1.00 percent [+]
Money Supply M0 2203274.21 2055946.55 2329706.58 193939.30 NGN Million [+]
Money Supply M1 10930572.57 10592511.65 11751139.21 396991.90 NGN Million [+]
Money Supply M2 28415371.99 27634515.08 35167529.95 648506.60 NGN Million [+]
Foreign Exchange Reserves 38684.00 39803.00 62081.86 63.22 USD Million [+]
Deposit Interest Rate 8.70 8.96 27.00 2.00 percent [+]
Lending Rate 15.11 15.07 37.80 6.00 percent [+]