The best interest rates from Nigerian digital banks (2025)
- 8 in 10 Nigerians still keep their savings in traditional banks, where rates are low.
- Kuda offers a fixed deposit interest rate of 15% per annum with a minimum deposit of ₦5,000.
- Opay provides a competitive fixed deposit rate of 17% per annum with flexible tenure options.
The shift towards digital banking and higher interest rates for fixed deposits presents a significant opportunity for Nigerians to grow their savings more effectively. However, individuals must remain cautious about the risks associated with fixed deposits, such as inflation and penalties for early withdrawal. A more informed approach to savings can lead to better financial security.
