ATTENTION! If You Have SAVINGS Account With UBA, Access, GTB, Other Popular Banks, Read Their Fresh ANNOUNCEMENT
In a welcome development for bank customers, several commercial banks in Nigeria, including Access Bank, UBA, FCMB, and others, have announced changes to their savings account interest rates. According to the Central Bank of Nigeria (CBN), the average savings deposit rate has increased from 7. 88% to 8. 03%.
This upward adjustment means that customers will now earn more interest on their savings accounts. Ecobank, one of the leading banks, has already notified its customers of the increase, stating, ” Your savings just got a boost! Enjoy a new interest rate of 8. 175% p. a. on all Ecobank savings accounts. ”
The CBN’ s updated data reveals varying interest rates among banks, with some offering higher rates than others. For instance, Access Bank, Fidelity Bank, First Bank, and UBA now offer 8. 03% interest rates, while GTB’ s rate stands at 5. 55%. Other banks, such as Ecobank, Keystone Bank, Polaris, and Zenith Bank, also offer 8. 03% interest rates.
The increase in savings deposit rates is expected to encourage people to save more, as their money will now grow faster. This development is particularly beneficial for individuals saving for future goals or building a financial cushion. Below is a breakdown of the average interest rates published by the CBN:
The new interest rates are as follows: Access Bank (8. 03%), Citibank (7. 88%), Ecobank (8. 03%), FCMB (1. 15%), Fidelity Bank (8. 03%), First Bank (8. 03%), Globus Bank (1. 40%), GTB (5. 55%), Keystone Bank (8. 03%), Optimus (6. 83%), Polaris (8. 03%), Premium Trust (8. 03%), Providus Bank (8. 03%), Signature Bank (6. 63%), Stanbic IBTC (2. 68%), Standard Chartered Bank (8. 03%), Sterling Bank (8. 03%), SunTrust (8. 00%), Titan Trust Bank (8. 03%), UBA (8. 03%), Union Bank (8. 03%), Unity Bank (8. 03%), Wema Bank (8. 03%), and Zenith Bank (8. 03%).
Recently, Unity Bank resolved network issues that affected its customers, restoring regular services and even extending operating hours to weekends to alleviate customer difficulties.
