Calculate and compare fixed deposit rates from Nigerian banks
Fixed Deposit Calculator
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Initial amount
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Interest Earned
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Maturity Amount
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Maturity Date
Deposit Growth Chart
Quick Comparison Table
Deposit Amount
3 Months
6 Months
12 Months
24 Months
Comparison based on average bank rates
Fixed Deposit Tips and Guides
Longer terms = higher rates
Banks typically offer higher interest rates for longer deposit terms as your money is committed for more time.
Power of Compound Interest
Compound interest earns interest on both your principal and previously earned interest, maximising your returns.
Deposit Protection
In Nigeria, deposits are protected by the Nigeria Deposit Insurance Corporation (NDIC) up to ₦5,000,000 per depositor per bank.
Consider Tax Implications
Interest income from fixed deposits is subject to Withholding Tax (WHT) at 10% in Nigeria. This is deducted at source by the bank when paying interest.
