Deposit interest rate in Nigeria in 2023 — 7.84%. Ranked 22 in the world out of 95. Since 1970, the indicator has risen by 4.84 pp.
1970–2023 · % per annum
| Year | % | Change, pp |
|---|---|---|
| 2023 | 7.84 | +1.88 pp |
| 2022 | 5.96 | +1.76 pp |
| 2021 | 4.21 | −0.44 pp |
| 2020 | 4.65 | −4.25 pp |
| 2019 | 8.9 | −0.8 pp |
| 2018 | 9.7 | +0.15 pp |
| 2017 | 9.55 | +2.06 pp |
| 2016 | 7.5 | −1.65 pp |
| 2015 | 9.15 | −0.19 pp |
| 2014 | 9.34 | +1.39 pp |
| 2013 | 7.95 | −0.46 pp |
| 2012 | 8.41 | +2.71 pp |
| 2011 | 5.69 | −0.83 pp |
| 2010 | 6.52 | −6.44 pp |
| 2009 | 12.96 | +1.09 pp |
| 2008 | 11.87 | +1.58 pp |
| 2007 | 10.29 | +0.54 pp |
| 2006 | 9.75 | −0.78 pp |
| 2005 | 10.53 | −3.17 pp |
| 2004 | 13.7 | −0.52 pp |
| 2003 | 14.22 | −2.45 pp |
| 2002 | 16.67 | +1.41 pp |
| 2001 | 15.26 | +3.57 pp |
| 2000 | 11.69 | −1.12 pp |
| 1999 | 12.81 | +2.7 pp |
| 1998 | 10.11 | +2.94 pp |
| 1997 | 7.17 | −5.89 pp |
| 1996 | 13.06 | −0.47 pp |
| 1995 | 13.53 | +0.44 pp |
| 1994 | 13.09 | −10.15 pp |
| 1993 | 23.24 | +5.2 pp |
| 1992 | 18.04 | +3.13 pp |
| 1991 | 14.92 | −4.87 pp |
| 1990 | 19.78 | +5.11 pp |
| 1989 | 14.68 | +1.73 pp |
| 1988 | 12.95 | −0.14 pp |
| 1987 | 13.09 | +3.85 pp |
| 1986 | 9.24 | +0.12 pp |
| 1985 | 9.12 | +0.86 pp |
| 1984 | 8.25 | +0.84 pp |
| 1983 | 7.41 | −0.19 pp |
| 1982 | 7.6 | +1.88 pp |
| 1981 | 5.72 | +0.45 pp |
| 1980 | 5.27 | +0.81 pp |
| 1979 | 4.46 | +0.31 pp |
| 1978 | 4.15 | +1.31 pp |
| 1977 | 2.83 | +0.17 pp |
| 1976 | 2.67 | −0.33 pp |
| 1975 | 3 | +0 pp |
| 1974 | 3 | +0 pp |
| 1973 | 3 | −0.04 pp |
| 1972 | 3.04 | +0.04 pp |
| 1971 | 3 | +0 pp |
| 1970 | 3 | — |
The same indicator for neighboring countries — with links to their pages
The average rate banks pay on time deposits of residents. Set against inflation it shows whether savings keep their purchasing power: if the deposit rate is below inflation, the real return on deposits is negative.
Important: There are no aggregates for country groups: the correct weight is the volume of deposits, and we have no such series. Adding rates without weights is meaningless: the rate of a country with a tiny banking system would weigh as much as that of a large one.
Source: World Economic Outlook (IMF), license IMF open data.
The average rate at which banks lend to businesses and households.
Finance Real interest rateThe lending rate less inflation — the true cost of borrowed money.
Economy Consumer price inflationThe annual change in the consumer price index, in percent.
Finance Current account balanceThe balance of a country's external transactions as a percent of GDP: surplus or deficit.
Finance Current account balance (World Bank)The current account balance as a percent of GDP from World Bank data.
Finance Broad money (% of GDP)The amount of money in the economy as a percent of GDP — the depth of the financial system.
