Zenith Bank’s Updated Fixed Deposit Interest Rates

Zenith Bank’s Updated Fixed Deposit Interest Rates

Fixed deposit has been one of the most reliable means of investing money without fear of losing your money to market volatility or fluctuation. However, although it is safe, it also has its shortcomings. For instance if you are fixing let’s say N,1000,000 for six months. If within these six months there is rise in inflation then the value of your money goes down but if inflation reduces then they value of you money goes up. This is the only side effect to fixed deposit. Here we want to take a little look into what Zenith Bank gives when you fix your money for a period of time.
HOW TO PUT YOUR MONEY IN A FIXED DEPOSIT

You will need to have an existing account with the Zenith bank. You will then need to speak to your bank manager or account officer, telling them how much you want to “fix”, and for how many days. Zenith banks allows you to fix your money for different time intervals.

fixed deposit rate in Zenith Bank for amount up to N10m is 2.5% per year while

amount above N10m and up to N50m is 3%.

Kindly note that these are indicative rates.
Please note that there is a withholding tax (WHT) of 10% on the interest earned on fixed deposit.



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