Deposit Interest Rate in Nigeria decreased to 9.48 percent in March from 9.68 percent in February of 2019. Deposit Interest Rate in Nigeria averaged 9.64 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 9.69 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 9.69 in 12 months time. In the long-term, the Deposit Interest Rate in Nigeria is projected to trend around 10.69 percent in 2020, according to our econometric models.

Deposit Interest Rate in Nigeria
Forecast Data Chart
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Nigeria Money Last Previous Highest Lowest Unit
Interest Rate 13.50 13.50 14.00 6.00 percent [+]
Cash Reserve Ratio 22.50 22.50 31.00 1.00 percent [+]
Money Supply M0 2111848.42 2158698.81 2329706.58 193939.30 NGN Million [+]
Money Supply M1 11385054.63 11252429.94 11751139.21 396991.90 NGN Million [+]
Money Supply M2 34897619.81 35167529.95 35167529.95 648506.60 NGN Million [+]
Foreign Exchange Reserves 44940.00 45070.00 62081.86 63.22 USD Million [+]
Deposit Interest Rate 9.48 9.68 27.00 2.00 percent [+]
Lending Rate 15.33 18.23 37.80 6.00 percent [+]

Deposit Interest Rate in Nigeria

The Deposit Interest Rate is the average rate paid by commercial banks to individuals or corporations on deposits. This page includes a chart with historical data for Deposit Interest Rate in Nigeria. Deposit Interest Rate in Nigeria - actual data, historical chart and calendar of releases - was last updated on August of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
9.48 9.68 27.00 2.00 1970 - 2019 percent Monthly

Country Last Previous
Argentina 55.49 Aug/19
Turkey 18.25 Jul/19
South Africa 7.03 May/19
Brazil 6.19 Mar/19
Russia 5.79 Jun/19
Indonesia 4.75 Aug/19
Mexico 3.73 May/19
Saudi Arabia 3.40 Aug/19
South Korea 1.97 May/19
Canada 1.81 Aug/19
Australia 1.65 Jul/19
United Kingdom 0.50 Aug/19
China 0.35 Jul/19
Singapore 0.20 Jun/19
Japan -0.26 Aug/19
Switzerland -0.33 Jun/19
Euro Area -0.40 Jul/19