Nigeria: Deposit interest rate
* indicates monthly or quarterly data series
The most recent value is 13.08 percent as of June 2024, an increase compared to the previous value of 12.19 percent. Historically, the average for Nigeria from January 2006 to June 2024 is 8.24 percent. The minimum of 3.53 percent was recorded in December 2010, while the maximum of 16.47 percent was reached in February 2009.
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* indicates monthly or quarterly data series
- Measure: percent
- Source: Central Bank of Nigeria
| Recent values | Nigeria: Bank deposit interest rate, percent |
|---|---|
| 2024 Jun | 13.08 |
| 2024 May | 12.19 |
| 2024 Apr | 11.23 |
| 2024 Mar | 11.04 |
| 2024 Feb | 10.75 |
| 2024 Jan | 9.93 |
| 2023 Dec | 9.75 |
| 2023 Nov | 9.06 |
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Definition: The deposit interest rate is the average interest rate on one year term deposits offered by the commercial banks to the household sector.
| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Inflation | 24.7 | 2023 | percent |
| Exchange rate regimes | 6 | 2021 | index points |
| USD exchange rate | 772.6651 | 9/2023 | Local Currency Units per USD |
| Money supply (broad money) | 66,174.92 | 9/2023 | billion |
| Consumer Price Index (CPI) | 606.0018 | 9/2023 | index points |
| Inflation, monthly | 2.10 | 9/2023 | percent |
| Inflation, annual | 26.72 | 9/2023 | percent |
| Private sector credit | 59,507.35 | 9/2023 | billion |
| Deposit interest rate | 8.49 | 9/2023 | percent |
| Business credit interest rate | 14.32 | 9/2023 | percent |