Following the Central Bank of Nigeria’s (CBN) hike of the Monetary Policy Rate (MPR), Nigerian banks have announced new interest rates on savings accounts.
In an email to its customers, Access Bank said it is increasing the interest rate on all its savings accounts to 5.40% per annum.
The bank added this will reflect the new CBN interest rate on savings accounts “effective immediately.”
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Other banks, such as Zenith Bank, FCMB, First Bank, and Fidelity Bank, also announced the new interest rate.
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