5 Banks In Nigeria With High Savings Interest Rates Account

Now that you’ ve save some emergency fund, but
the rate your locate bank is paying is too small – then
you need a high savings interest account.
When it comes to savings, you should consider the
best options offered by Nigerian banks.you have to
understand what savings account is and how it can
help you earn a great interest on your money. There
are many different types of accounts you can use:
√Call deposit
√Fixed deposit
√High-interest deposit.
It is smart to choose the high-interest savings option
that pays interest to you. Such accounts offer the
flexibility you’ll love. You can perform the following
actions without worrying about losing your interest:
Withdraw cash when you need it
Make online payments
Enjoy different services that do not affect your
savings account.
Savings accounts allow bank customers keep their
money in the bank and earn several percents per
year on top of the original amount.
Factor to examine when looking for high interest
savings account
If this is your first time looking for a high-interest
savings account, skipping through these options can
be dangerous. When you choose a bank, you’ll want
to know a few things:
How much you have to deposit in your account.
The startup cost for opening an account
How much APY[annul percentage per year] the bank
is paying
Any monthly maintenance fees
The minimum you need to keep in your account to
get the best rates
How long it will take to transfer your funds to
another account
What to expect from customer service
find banks with high interest rate in Nigeria.
Note: The interest rates these banks are paying is as
of the time of this writing. Please search for “[bank
name]” + “savings interest rate” to get up-to-date
rates or contact the bank you are interested in and
make updated enquires
Although, Savings account offers you interest rates on
your deposits with 2% being the minimum interest
rates and 6% the highest interest rate a bank offers.
Now let look at 5 banks that offers high interest rates
to their customers:
1.Diamond HIDA 2-6%
This financial institution has an interesting proposition
called High Interest Deposit Account. If you planning
to save for a special project like a wedding, buying a
house or investing in a business or are you simply
looking to keep away some funds for rainy days?
HIDA is a special deposit account that will perfectly
suit your goals and at the same time offer full credit
interest on your savings. Simply put, the more you
save, the more interest you earn on your deposits.For
those who have not mastered the art of saving
money, Diamond HIDA is a great way to start
because the account does not come with a debit card
so you will not be tempted to make unnecessary
withdrawals. You can also enjoy 2 free withdrawals
and still maintain credit interest on available balance.
Below are a breakdown of interest rate earned on
available balance
Less than N 100,000: 2% interest rate per Annum.
N 100,000 and N 999,999: 4.5% per annum
N 1,000,000 and N 4,999,999:5% per annum
N 5 million and above: 6.0% per annum
2.Savings Account DiamondXtra
The HIDA option offered by Diamond bank is not
suitable for all Nigerians. Those of you who need a
savings account with a small amount of money at
the beginning can look at the DiamondXtra savings
account that starts with just 1,000 Naira.
As one of the top banks in Nigeria, Diamond bank
allows all interested individuals to earn interest on
their saving accounts. Here are the main benefits of
this offer:
An account can be opened with only 1,000 Naira on it.
There is no minimum amount you’ll have to keep on
the account.
The card you’ll get is free to use at all local ATMs.
You are allowed making 3 free withdrawals within a
month.
One odd fact about diamondxtra, you loose your
interest onces you make 4 withdrawals in the same
month.
3.Zenith Bank Account
Depending on your expectations or what suits your
needs, Zenith bank offers savings account packages
to suit your goals
Individual savings account: if you have a specific goal
to meet up with or simply want to start setting
money aside, this account is recommended for you.
No money is required to open this account and you
are offered interests on your fund whatever your
goal for opening this account may be. You get emails
or SMS alerts or even both, a debit card, master card
or visa card
EazySaveClassic Account: this is specially designed for
individuals with minimal forms of identification/ it has
a zero account opening balance, maximum single
deposit N 50,000 maximum cumulative account
balance N300,000
4.GTMax Savings Account 2-3%
GTbank offers an option called GTMax. It is an account
that allows Nigerians save their money and earn
some interest that depends on the amount of their
current funds. This savings possibility is not available
to everyone because there is a minimum amount
required for opening and maintaining your account.
GTMax offers these interest rates per year:
2 percent – account is opened with at least 150,000
Naira
2.75 percent – you need the minimum of 500,000
Naira to earn this interest
3 percent – for people who have at least 1 million
Naira to save
All three options require a minimum balance of
100,000-500,000 Naira depending on the account type
and percentage earned per annum.
The account can be interesting to businesspersons
and companies who need to save money and
multiply them. The good thing is that the interest can
be earned as long as the minimum balance is
preserved. Besides, you are allowed making only up
to 5 withdrawals per month, otherwise, you’ll have to
pay the fee of 2 Naira per each transaction made
during the month.
5.Savings at FCMB premiun account -3.3%
Do you prefer using the First City Monument Bank? It
also has a savings option for customers who need to
save their money for something important or make
the funds working and earning some interest. Learn
more about the Premium Savings option offered here.
While the financial organization doesn’t require you to
keep a minimum amount on your account you still
have to add at least 100,000 Naira in order to open
your savings account. Still, if you wish to earn the
biggest annual interest rate (it is 3.3 percent) you
need to make sure your average balance per day is
at least 100,000 Naira. If the balance becomes lower
than, your earnings will reduce significantly.
Just like many similar savings options, you can’t make
more than 3 withdrawals per month or you will lose
your monthly interest earning.
In conclusion, it is smart to save in high interest
savings account because your savings capacity and
interest generated determines the level of your
success.
SOURCE:


https://okfiscal.com/5-banks-in-nigeria-with-high-savings-interest-rate/