Skip to main content

9 High yield savings accounts in Nigeria.


High yield savings account in Nigeria


Here are nine Nigerian banks known for offering high-yield savings accounts, as of the latest available data. 


The interest rates can vary, so it’s always a good idea to check with the banks directly for the most up-to-date offers.


1. GTBank (Guaranty Trust Bank) 

  Known for competitive interest rates on savings accounts, including specialized savings products like the GTSave savings account.


The GTSave offers a competitive interest rates at 8.175%.


2. Access Bank 

   Offers a variety of savings products with attractive interest rates, especially on their Access Bank High Interest Savings account.


Access bank premier savings accounts attracts interest rate of  8.175%p.a paid monthly.


3. Zenith Bank 

 

Provides various savings products with good returns, including the Zenith Bank High Yield Savings account.


Zenith bank has an account called Save4Me. Save4Me  is a savings account with a higher interest rate of 4.5% 


4. UBA (United Bank for Africa)


   UBA has competitive interest rates on its savings products, particularly the UBA High Yield Savings account.


The bank offers its UBA Target account about a 5.50% interest rate per annum.


5. Stanbic IBTC Bank  


 Offers a range of savings accounts with higher interest rates for premium customers, such as the Stanbic IBTC High Yield Savings account.


Stanbic IBTC offers a MaxYield account that provides the following benefits to the holders of the account;


Bonus interest of 0.5% plus 10% of MPR per annum if daily balance is more than N100,000. 

Interest of 10% of MPR  per annum if balance is less than N100,000 or more than 1 withdrawal per month.

Interest is forfeited at the 5th withdrawal in a month. Interest is paid monthly less 10% withholding tax.


6. EcoBank Nigeria  

  

 Known for competitive interest rates, EcoBank offers savings products like the EcoBank Premium Savings account.


The bank offers supersavers account and pays between a 9%p.a interest on N100000 mininum balance and 13%p.a on N100million and above.


But exceeding 4 withdrawals in a month will result in forfeiting all earned interest for that month.


7. Fidelity Bank


 Fidelity offers various interest-bearing savings accounts, with attractive rates in their Fidelity High Yield Savings product.


The Fidelity High Yield Savings Account offers tiered interest rate based on threshold of between 8.175%pa on N100,000 and 8,825%pa on N200m.


The regular monthly interest is Not applicable if customer makes more than 4 withdrawals in a month



8. Union Bank of Nigeria

 

   Provides competitive interest rates on savings, including the Union Bank High Yield Savings account.

Union Bank savings account attracts 5.55% interest per annum.



9. Wema Bank

 

 Known for its "ALAT" savings platform, which offers higher interest rates and unique digital banking benefits.


The Wema Personal Savings account has an Interest rate of 4.65%p.a 


Remember, rates and account terms can change, so it’s a good idea to verify the latest details directly with each bank .


Labels:

Comments

Post a Comment

Popular posts from this blog

24 Exchange gets set to offer 23-hour trading in 2025.

Security exchange. In a press release on November 27, 2024, 24 Exchange announced it has received approval from the U.S. Securities and Exchange Commission to operate 24X National Exchange as the first national securities exchange in the U.S. that allows trading of U.S. securities 23 hours each workday. The extended hour trading is subject to Equity Data Plans making changes that would facilitate overnight trading hours and 24X National Exchange making an additional rule filing with the SEC confirming the changes and the Exchange's ability to comply with the Securities Exchange Act. 24 Exchange CEO and Founder Dmitri Galinov said: "The SEC's approval of our new exchange is a thrilling development that the 24X Team has been working toward for many years. Traders are most at-risk when the market is closed in their geographic location. 24X National Exchange will seek to alleviate this problem by facilitating around-the-clock U.S. equities trading for broker-dealers and their...
Post a Comment
Read more

Which primary effective spending habits guarantee personal budget discipline?

First, why is personal budget discipline necessary?  It's necessary because without it, you're going spend more than you earn and end up living the rest of your life in debt. Spending one's entire life in debt doesn't produce growth. Personal finance growth is founded on having substantial savings, which could form a significant portion of initial investment capital.  Investments drive personal growth.  So to grow financially, personal budget discipline is necessary. However personal budget discipline can't be obtained in the absence of effective spending habits. What are the effective spending habits that guarantee personal budget discipline? 1. Having the habit of preparing a personal budget regualrly. Having a personal budget is the starting point and the driver of effective spending habits. A personal budget is a financial plan that clearly defines your expected revenue and expected expenses. For a personal budget to be effective, it must be realistic. That is, ...
Post a Comment
Read more