Nigeria—Deposit Interest Rate (%)
Category: Fiscal & MonetarySource: World Bank World Development Indicators ↗Global Rank: #22 of 113Updated April 2026
Latest Value
7.8%
2023
YoY Change
+31.4%
2022 → 2023
Global Rank
#22
of 113 countries
Maximum
16.7%
2002
Minimum
4.2%
2021
CAGR
-1.7%
24 years
Last
7.8%
Previous
6.0%
Highest
16.7%
Lowest
4.2%
Source
World Bank World Development Indicators
Nigeria's deposit interest rate (%) was 7.8% in 2023, ranking #22 out of 113 countries. This represents a +31.4% change from 2022. Over the past 24 years, the highest recorded value was 16.7% (2002) and the lowest was 4.2% (2021). Data sourced from the World Bank World Development Indicators.
Source: World Bank World Development Indicators
Historical Data
| Year | Value | Change |
|---|---|---|
| 2023 | 7.8% | +31.4% |
| 2022 | 6.0% | +41.8% |
| 2021 | 4.2% | -9.5% |
| 2020 | 4.6% | -47.8% |
| 2019 | 8.9% | -8.2% |
| 2018 | 9.7% | +1.5% |
| 2017 | 9.6% | +27.5% |
| 2016 | 7.5% | -18.1% |
| 2015 | 9.1% | -2.0% |
| 2014 | 9.3% | +17.5% |
| 2013 | 7.9% | -5.5% |
| 2012 | 8.4% | +47.7% |
| 2011 | 5.7% | -12.7% |
| 2010 | 6.5% | -49.7% |
| 2009 | 13.0% | +9.2% |
| 2008 | 11.9% | +15.3% |
| 2007 | 10.3% | +5.5% |
| 2006 | 9.8% | -7.4% |
| 2005 | 10.5% | -23.1% |
| 2004 | 13.7% | -3.7% |
| 2003 | 14.2% | -14.7% |
| 2002 | 16.7% | +9.3% |
| 2001 | 15.3% | +30.5% |
| 2000 | 11.7% |
Top Countries — Deposit Interest Rate (%)
| # | Country | Value | Year |
|---|---|---|---|
| 1 | Turkiye | 71.0% | 2024 |
| 2 | Zimbabwe | 62.8% | 2023 |
| 3 | Argentina | 54.2% | 2024 |
| 4 | Egypt, Arab Rep. | 19.2% | 2024 |
| 5 | Uzbekistan | 18.1% | 2024 |
| 6 | Madagascar | 13.0% | 2023 |
| 7 | Ghana | 11.4% | 2023 |
| 8 | Georgia | 10.6% | 2024 |
| 9 | Rwanda | 10.3% | 2024 |
| 10 | Colombia | 10.2% | 2024 |
About This Indicator
Definition
Deposit interest rate is the rate paid by commercial or similar banks for demand, time, or savings deposits. The terms and conditions attached to these rates differ by country, however, limiting their comparability. This indicator is expressed as a percentage (a÷b)*100.
Methodology
Data compiled by International Financial Statistics database, International Monetary Fund (IMF).