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Nairaland Forum / Nairaland / General / Career / Which Of The Nigerian Banks Has The Best Available Form Of Fixed Deposit Savings (1113 Views)
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Which Of The Nigerian Banks Has The Best Available Form Of Fixed Deposit Savings by Maerie(f): 10:39am On May 13, 2015 |
I want to take a bold step of divesting into Fixed Deposit Savings. However, like any investor, I'm very concerned on what my returns(interests on savings) would be. Please which of the Nigerian banks has the best form of Fixed Deposit Savings? Your factual contributions will be well appreciated |
Re: Which Of The Nigerian Banks Has The Best Available Form Of Fixed Deposit Savings by dawnomike(m): 12:09pm On May 13, 2015 |
@ Op: as far as I know, UBA and first give d highest interest rate on fixed deposit. But depending on how much u are depositing, u can always negotiate the rate with any bank. The more your cash, the more bargaining power you've got!!! |
Re: Which Of The Nigerian Banks Has The Best Available Form Of Fixed Deposit Savings by bukatyne(f): 4:11pm On May 13, 2015 |
dawnomike: Hi, What is the interest rate per bank, what is the minimum deposit and the tenure? I know FCMB is about 9.25% per annum (Depending on the rates for the month and tenure) and the minimum deposit is N250,000.00 |
Re: Which Of The Nigerian Banks Has The Best Available Form Of Fixed Deposit Savings by stepo707: 5:41pm On May 13, 2015 |
i would love to know too.Is 50k possible? |
Re: Which Of The Nigerian Banks Has The Best Available Form Of Fixed Deposit Savings by Maerie(f): 9:50pm On May 13, 2015 |
dawnomike:. Okay, but what's d lowest rate/ the highest rate that can be received as interest. |
Re: Which Of The Nigerian Banks Has The Best Available Form Of Fixed Deposit Savings by Maerie(f): 9:51pm On May 13, 2015 |
Mods please help move to front page, Information is power. A whole lot of people can benefit from this. Cc Seun |
Re: Which Of The Nigerian Banks Has The Best Available Form Of Fixed Deposit Savings by DirtyGold: 8:02am On May 14, 2015 |
Corrections madame, any percentage you are given on fixed deposit is per annum. Meaning if you fix 100,000 at 9.5%, you would get 109,500 at d end of a fiscal year! In otherwords, (using the above scenario) if you fix 100,000 for only one month, your interest would be 9,500 ÷ 12 = 792 So, at the end of one month, for your 100,000 at 9.5%, only 100,792 would be returned to you! Take note that NO bank would give you 9.5% for you 100,000. To get that kind of interest rate, your money MUST be in millions! bukatyne: |
Re: Which Of The Nigerian Banks Has The Best Available Form Of Fixed Deposit Savings by bukatyne(f): 8:38am On May 14, 2015 |
DirtyGold: Hi DirtyGold, I was interested and made consultations. I engage them again. Thanks |
Re: Which Of The Nigerian Banks Has The Best Available Form Of Fixed Deposit Savings by DirtyGold: 2:41pm On May 14, 2015 |
You welcome dear. All the best. bukatyne: |
Re: Which Of The Nigerian Banks Has The Best Available Form Of Fixed Deposit Savings by bukatyne(f): 2:51pm On May 14, 2015 |
DirtyGold: Funnily, I ran into them again and have cleared it... You were right, the interest rate is P.a Thanks |
Re: Which Of The Nigerian Banks Has The Best Available Form Of Fixed Deposit Savings by DirtyGold: 5:24pm On May 14, 2015 |
You welcome, I'm glad I could help. Cheers! bukatyne: |
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