Summary of the Article:
Union Bank of Nigeria offers fixed deposit options with a high level of investment certainty. Customers can choose to reinvest their deposits or receive them with earned interest at the agreed-upon time.
Here are the key points from the article:
- Union Bank’s Fixed Deposits: Union Bank provides short, medium, and long-term fixed deposits with high investment certainty.
- Reinvestment or Withdrawal: Customers can either reinvest their fixed deposits or choose to receive them along with earned interest.
The interest rates offered by different banks in Nigeria for fixed deposits vary. Here are a few examples:
- Access Bank: Savings Deposit Interest Rate – 5.25%
- Citi Bank Nigeria: Savings Deposit Interest Rate – 4.95%
- Coronation Merchant Bank: Savings Deposit Interest Rate – 6.73%
- Ecobank Nigeria: Savings Deposit Interest Rate – 4.65%
Fidelity Bank currently offers the highest interest rates for savings deposit accounts in Nigeria. The interest yield of Fidelity Bank’s HYSA savings accounts is the highest observed.
The interest rate for fixed deposits in Nigeria in 2023 increased to 7.92% in April. The maximum rate recorded was 27%, while the minimum was 2%. This data is published monthly by the World Bank.
If you deposit ₹50,000 in a fixed deposit for 5 years, the interest you’ll earn will vary depending on the bank. For example:
- State Bank of India: Interest Rate – 7.50%, Maturity Amount – ₹72,497
- Axis Bank: Interest Rate – 7.75%, Maturity Amount – ₹73,392
- HDFC Bank: Interest Rate – 7.75%, Maturity Amount – ₹73,392
GTB (Guaranty Trust Bank) offers a fixed deposit interest rate of 4.95% per annum, with an additional 1% bonus interest for customers who maintain a Standing Order deposit for 1 year.
UBA (United Bank for Africa) offers different interest rates based on different savings bands. Here are a few examples:
- ₦50,000 – ₦99,999: Old Rate – 2.75%, New Rate – 4.20%
- ₦100,000 – ₦4,999,999: Old Rate – 3.00%, New Rate – 4.50%
- ₦5,000,000 – ₦99,999,999.99: Old Rate – 3.15%, New Rate – 6.00%
- ₦100,000,000 – ₦249,999,999.99: Old Rate – 3.25%, New Rate – 5.50%
The interest money you will receive per month on a ₹50,000 fixed deposit for 5 years will depend on the bank and the interest rate. For example:
- State Bank of India: Interest Rate – 7.50%, Maturity Amount – ₹72,497
- Axis Bank: Interest Rate – 7.75%, Maturity Amount – ₹73,392
- HDFC Bank: Interest Rate – 7.75%, Maturity Amount – ₹73,392
Which bank in Nigeria is good for Fixed Deposit
Union Bank of Nigeria
As with all its financial products, Union Bank's fixed deposits, whether short, medium or long-term, offers a high degree of investment certainty to its customers. The termed deposits can either be re-invested or paid to the customer with the earned interest at the agreed amount of time.
Which bank in Nigeria pays the highest interest rate on Fixed Deposit
Fixed Deposits Interest Rates of Nigerian Banks January 27th, 2023
| S/N | NAME OF BANK | Savings Deposit |
|---|---|---|
| 1 | Access Bank | 5.25 |
| 2 | Citi Bank Nigeria | 4.95 |
| 3 | Coronation Merchant Bank | 6.73 |
| 4 | Ecobank Nigeria | 4.65 |
Which bank in Nigeria has the highest interest rate
Fidelity Bank currently offers the highest interest rates for savings deposit accounts (target) in Nigeria in 2022 – 3.3%. The current Fidelity Bank HYSA savings accounts interest yield tandem the highest volume, is actually the highest observed.
Cached
What is the interest rate for Fixed Deposit in Nigeria 2023
Latest data on Deposit Interest Rate (%)
Bank Deposit Interest Rate in Nigeria increased to 7.92 % in April 2023. The maximum rate was 27 % and minimum was 2 %. Data published Monthly by World Bank.
How much interest will I earn on 50000 fixed deposit
List of Bank Interest Rates for a ₹50,000 Fixed Deposit for 5 Years
| Bank | Interest Rate | Maturity Amount |
|---|---|---|
| State Bank of India | 7.50% | ₹72,497 |
| Axis Bank | 7.75% | ₹73,392 |
| HDFC Bank | 7.75% | ₹73,392 |
What is GTB fixed deposit interest rate
What's in it for you. 24/7 Banking services via our various e-channels. 4.95% interest rate per annum and additional 1% bonus interest to customers who maintain Standing Order deposit for 1 year.
What is UBA fixed deposit interest rate
FEATURES:
| Savings Band | Old rate (Per Annum) | New Rate (Per Annum) |
|---|---|---|
| ₦50,000 – ₦99,999 | 2.75% | 4.20% |
| ₦100,000 – ₦4,999,999 | 3.00% | 4.50% |
| ₦5,000,000 – ₦99,999,999.99 | 3.15% | 6.00% |
| ₦100,000,000 – ₦249,999,999.99 | 3.25% | 5.50% |
How much interest money will I get per month if I deposit 50000
List of Bank Interest Rates for a ₹50,000 Fixed Deposit for 5 Years
| Bank | Interest Rate | Maturity Amount |
|---|---|---|
| State Bank of India | 7.50% | ₹72,497 |
| Axis Bank | 7.75% | ₹73,392 |
| HDFC Bank | 7.75% | ₹73,392 |
Where do I put my money to earn the most interest
On This PageSwitch to a high-interest savings account.Consider a rewards checking account.Take advantage of bank bonuses.Try a money market account.Check with your local credit union.Consider certificates of deposit.Build a CD ladder.Consider buying bonds.
What is the interest rate on 50000 fixed deposit
List of NBFC FD Interest Rates for a ₹50,000 Fixed Deposit for 1 Year
| NBFC | Interest Rate | Maturity Amount |
|---|---|---|
| Bajaj Finance FD | 7.65% | ₹53,825 |
| PNB Housing Finance FD | 7.60% | ₹53,800 |
| Mahindra Finance FD | 7.65% | ₹53,825 |
What is the interest rate for Zenith Bank fixed deposit
Fixed Term Deposit 4.40%
Open your account today.
How much interest on $100 000 dollars
The interest rate on a $100,000 loan from a major lender could be anywhere from 7.99% to 25.81%. It's difficult to pinpoint the exact interest rate that you'll get for a $100,000 loan since lenders take many factors into account when calculating your interest rate, such as your credit score and income.
How much interest would you make on $100 000 a year
How much interest can $100,000 earn in a year If you put $100,000 in CDs, high-yield savings or a money market account for a year, you could earn anywhere from $3,000 to $5,000 based on current interest rates.
What is the interest rate for Ecobank
Earn more on your dollar investments with us
Maximize your savings today by investing in our dollar fixed deposits and earn up to 5% interest per annum.
Who is offering highest interest rate for Fixed Deposit
Highest 24-month term deposit rates
| Provider | Rate |
|---|---|
| Judo Bank | 4.85% |
| G&C Mutual Bank | 4.65% |
| ING | 4.65% |
| AMP Bank | 4.60% |
What is the maximum amount a UBA savings account can hold
Zero opening balance. Maximum single deposit of N50, 000.
How much interest will $300 000 earn a year
The average retirement account generates an average return of about 5% annually. Some estimates place this number higher, but we'll use conservative math. With a retirement account of $300,000, this means an average return of about $15,000 per year.
How much interest does $10000 earn in a year
Currently, money market funds pay between 4.47% and 4.87% in interest. With that, you can earn between $447 to $487 in interest on $10,000 each year. Certificates of deposit (CDs). CDs are offered by financial institutions for set periods of time.
Which bank gives 8% interest on savings account
DCB bank
DCB bank is now providing savings accounts with the highest interest rate of 8%, and FDs with the highest interest rate, 8%, for regular customers and 8.50% for senior citizens. DCB Bank has revised savings accounts and fixed deposit interest rates for deposits below Rs 2 crore.
How much interest on $50,000 for 5 years
List of Bank Interest Rates for a ₹50,000 Fixed Deposit for 5 Years
| Bank | Interest Rate | Maturity Amount |
|---|---|---|
| State Bank of India | 7.50% | ₹72,497 |
| Axis Bank | 7.75% | ₹73,392 |
| HDFC Bank | 7.75% | ₹73,392 |
What is Zenith 2 year fixed rate
Fixed Term Deposit 4.55%
Make your savings work for you, by opening a 2 year fixed term deposit account with us. Open your account today.
How many years FD will double
Suppose, you want to invest Rs 50,000 in a fixed deposit at 7 per cent interest rate. Now, divide 72 by the rate of interest (7%) to know the time it will take for Rs 50,000 to become Rs 1 lakh. So, 72/7 will be 10.2 years. Hence, it will take 10.2 years to double your money if the interest rate remains the same at 7%.
How much interest does $500 000 earn a month
A $500,000 annuity would pay $29,519.92 per year in interest, or $2,395.83 per month if you prefer to set up systemetic withdrawals of interest. These payments assume a guaranteed interest rate of 5.75%.
How much is $10000 for 5 years at 6 interest
Summary: An investment of $10000 today invested at 6% for five years at simple interest will be $13,000.
How much interest does $50000 earn in one year
A sum of $50,000 in cash can earn about $195 a year in an average bank savings account or as much as $2,300 if you put it into a high-quality corporate bond fund. Other options include money market accounts, money market funds, certificate of deposits and government and corporate bonds.
