Savings are one of the ways to preserve money for the future. You can get premium interest on your savings in Nigerian banks. Various savings platforms offer competitive interest rates. However, not all banks provide interest on savings. In this write-up, we will be looking at some banks that offer savings account services. We would also be looking at the interest rates of these banks.
Different Nigerian Banks That Offer Savings Account Services
Different banks in Nigeria offer savings account services:
Zenith Bank
Zenith Bank is one of the that offers savings accounts in Nigeria. It is one of the banks that provides financial services in Nigeria. It has branches all over the country.
The banks boast of some state-of-the-art equipment. It is listed on the Nigerian Exchange Group (NGX) and get London Stock Exchange. This company is controlled by Jim Ovia.
Zenith Bank boasts of an amazing interest rate on savings. The bank has a yearly interest of 8% on savings. This means that if you save N5,000 at the beginning of 2024. You are likely to see an N400 addition on it.
Stanbic IBTC Bank
Stanbic IBTC Bank is another bank that offers competitive interest rates too. This company is also interested in offering banking solutions to its customers. They offer loan and credit facilities.
Additionally, they also save money for their clients. Stanbic IBTC Holdings offers asset management for its clients. You can get pension management advice from the bank too.
You can open a savings account with as little as N10,000. The interest rate is 8% on savings. This means that if you save N10,000 at the beginning of the year. You can earn N800 on the top of the savings.
United Bank of Africa (UBA)
UBA is a bank controlled by Tony Elumelu. It is one of the banks that offer savings account services in Nigeria. This savings account can be opened by everybody as long as you meet the requirements.
The yearly interest rate is 1.15%. This bank offers other services like asset management, advisory services and fixed deposit. They have branches scattered all over the country.
First Bank
First Bank is one of the oldest banks in Nigeria. It offers a different range of services. These include fixed deposit and asset management.
They also create an avenue where clients can store pieces of jewellery. First Bank offers savings account services. First Bank offers higher interest rates even more than first deposit account holders. The savings account services owned by First Bank is called First Premium.
Guarantee Trust Bank
Guarantee Trust Bank (Gtbank) is another bank that offers a variety of services. One of these services includes offering savings accounts. Clients are allowed to save their money for a long period without hassle.
They are also allowed to make thorough information of any services concerning Gtbank. Gtbank allows you this medium for you to save as much amount as you like. The savings account is designed to meet any forthcoming project you have.
Sterling Bank
Sterling Bank has introduced the Classic Saving option. This option is designed to help you earn interest as you save. All you need do is to walk into any Sterling Bank branch.
You can earn an interest as money enters your account. Sterling Bank has offices almost everywhere in Nigeria. Sterling Bank has an annual interest rate of 2%. This service is usually advertised on media outlets.
To make proper findings, do well to contact their customer care centre. They would be ready to assist you open an account.
First City Monument Bank (FCMB)
First City Monument Bank (FCMB) is a bank created to assist Nigerians in their financial activities. They have a medium in which customers can save money.
No matter what class of person you fall in, you can create a savings account. These may include students, workers and even people in the rural villages.
FCMB offers competitive interest rates that would meet the needs of the person. FCMB have an annual interest rate of 1.25%. To begin, create an FCMB account and there you go.
Ecobank
Ecobank is another platform where you can save money. Ecobank is a bank that offers its services in different currencies. When you bank with Ecobank, you have different ways of saving your money.
You can either opt for a savings account or go for a fixed deposit account. Many people opt for a savings account. This is because of its competitive interest rate. The interest rate of Ecobank is 9%. The savings account service is called Premium Savings Account.
Conclusion
Various microfinance and mobile money banks offer competitive interest rates. You can get information on these banks online. Additionally, you can download their apps on your App Store too. Thanks for reading. Do well to share this article.
