Full List: CBN Releases How Much Access, UBA, Zenith Other Banks Pay Customers for Savings in 2026
- The CBN has provided an updated list of Nigerian banks' interest rates on customers' savings accounts
- The new data showed that First Bank of Nigeria and Globus Bank topped the list, offering savings rates of 8.25% and 8.18,% respectively
- Some banks paid much lower interest rates; on average, interest rates clustered around 8% per annum
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The Central Bank of Nigeria (CBN) has released the latest data on savings deposit interest rates offered by Nigerian banks, showing that most lenders are paying customers rates around 8% per annum.
The latest figures were published on January 9, 2026.
Source: UGC
According to the apex bank’s average deposit rates data, several tier-one and mid-sized banks including Access Bank, Guaranty Trust Bank, Zenith Bank, United Bank for Africa, Fidelity Bank and Union Bank are offering savings account interest rates of about 8.10% to customers.
First Bank of Nigeria have one of the highest savings rates at 8.25%, while Globus Bank followed closely at 8.18%. Nova Bank posted a savings rate of 8.00%.
However, some banks paid significantly lower returns on savings. between 2% and 4.25%, while Ecobank’s savings rate stood at 5.90%.
How saving deposit works?
A bank savings rate is the percentage of your deposited money that a bank pays you for keeping your funds there. It is a way for banks to encourage customers to save.
Savings deposit rates are regulated under the CBN’s monetary policy framework, with banks required to pay a minimum percentage of the Monetary Policy Rate (MPR) on savings accounts.
Source: Getty Images
Banks interest rates on savings
Here is a snapshot of banks' new interest rates
- Access Bank: 8.10%
- Alpha Morgan Bank: 8.10%
- Citi Bank: 8.10%
- Ecobank: 5.90%
- FCMB: 4.25%
- Fidelity Bank: 8.10%
- First Bank of Nigeria: 8.25%
- Globus Bank Ltd: 8.18%
- Guaranty Trust Bank: 8.10%
- Keystone Bank Ltd: 8.10%
- Nova Bank: 8.00%
- Optimus Bank: 8.10%
- Parallex Bank: 8.10%
- Polaris Bank: 8.10%
- Premium Trust Bank: 8.10%
- Providus Bank: 8.10%
- Signature Bank: 8.10%
- Stanbic IBTC: 2.70%
- Standard Chartered Bank: 8.10%
- Sterling Bank: 8.10%
- SunTrust Bank: 8.10%
- Tatum Bank: 8.10%
- United Bank for Africa (UBA): 8.10%
- Union Bank: 8.10%
- Unity Bank: 8.10%
- Wema Bank: 8.10%
- Zenith Bank: 8.10%
New cash deposit, withdrawal changes
Earlier, greported that Nigerian banks have informed customers of updates to cash deposit and withdrawal policies, effective January 1, 2026, in line with the CBN directives.
The updates aim to improve cash management, enhance security, and encourage the use of digital payment channels for safer and more convenient transactions.
Access Bank, Ecobank, Wema, and other Nigerian banks have shared the key changes with customers.
Customers are encouraged to use digital channels for higher-value transactions.
Source: Legit.ng
