FULL LIST: Banks offering 7.4% interest rate on deposits

Multiple commercial banks in Nigeria are presently providing a 7.4% interest rate on deposits.

This follows the increase in the Monetary Policy Rate (MPR) by the Central Bank of Nigeria (CBN) from 22.75% to 24.75% in February 2024. 

Consequently, numerous banks have revised their rates to attract more savers and enhance liquidity management. This means increased returns for depositors on their savings, creating a favorable environment for investing in deposit accounts with these banks. 

Tribune Online makes a full list of banks that offers 7.4% rate on deposits: 

1. Access Bank

2. Ecobank 

3. Fidelity

4. First Bank of Nigeria

5. GTBank

ALSO READ: CBN interest rate hike deepens private sector loan crises — LCCI

6. Heritage Bank

7. Keystone Bank 

8. Optimus Bank 

9. Polaris Bank 

10. Premium Trust

11. Providus

12. Standard Chartered

13. Titan TrustBank

14. United Bank for Africa (UBA)

15. Unity Bank

16. Wema Bank 

17. Zenith Bank

18. Sterling Bank

NIGERIAN TRIBUNE