luizpippo:
Dont be shocked to see #2,430 at the end of the month and then the debit #780 from it as one nonsense charge.

Odetokun3:
The interest rate is mostly negotiated and not publicly disclosed but if you agreed on 10% interest rate for example, and the capital is 1m, then you have the following analysis:

10% divided by 12 because the 10% is per annum and not per month. so, you have 0.83% per month.
0.83/100 * 1,000,000 = 8,300
Therefore, interest per month is 8,300.
thanks very much,the interest is very small.so they cnt pay me up to 15k per month,if i cary 500k and borrow 2 peoples at least they can give me 1ok each monthly.that 8k is too smal .


All other things being equal (Ceteris paribus), you should get 8,300 interest monthly.

I stand to be corrected.

Kenpaly:
Good day everybody here,pls i want to kwow the interest rate of 1m naira per month in fixed deposite.bankers here pls i need ur insight on ds.the banks involved ar uba and first bank .