CBN Releases Updated Savings Rates, UBA Maintains Competitive Rate

The Central Bank of Nigeria (CBN) has published the latest savings deposit rates, reflecting changes in monetary policy. The average savings deposit rate in Nigerian banks stands at 8.25%, up from the previous period.

Tier 1 banks like UBA have maintained rates between 8.10% and 8.25%. Customer deposits in commercial banks surged to N150.3 trillion in the first half of 2025, indicating a substantial increase from the previous year.

This growth in deposits highlights the importance of savings as a primary source of lending and investment in the financial sector.