10 Leading Banks For Fixed Deposit Account In Nigeria (2026)

This article is about the 10 leading banks for fixed deposit account in Nigeria this 2026. Fixed deposit accounts provide a safe and attractive means of increasing your savings.

Selecting a suitable bank can be confusing because so many of them offer this service.

We will examine the top 10 banks in Nigeria for fixed deposit accounts in this post.

Regardless of your social status, this guide will assist you in making the best choice to optimise your returns.

WHAT ARE THE REQUIREMENTS FOR OPENING A FIXED DEPOSIT ACCOUNT IN NIGERIA? 

The following are the required information that you are expected to provide before opening a fixed deposit account in Nigeria today. They are:

• Your Full Name
• Your Address
• Your Phone Number
• Email Address
• Valid means of identification (such as National ID card, driving licence, voter’s card or international passport)
• The sum of money to be invested
• The term of your investment.

As soon as your account is opened, you will begin receiving interest on your funds. Every month, the interest will be credited to your account.

TYPES OF FIXED DEPOSIT ACCOUNTS IN NIGERIA 2026

The following are the various types of fixed deposit accounts available in Nigeria this 2026:

STANDARD FIXED DEPOSIT

Standard fixed deposit is the most popular kind of fixed deposit account and it allows you to deposit a certain amount for a set amount of time.

Throughout the term, the interest rate is fixed and stays that way.

FLEXI FIXED DEPOSIT

With this kind of fixed deposit, you can take out some money ahead of time and not be penalised for doing so.

It allows you to earn interest on the remaining balance while maintaining flexibility.

FIXED DEPOSIT PLUS

Higher interest rates are offered by Fixed Deposit Plus accounts than by regular fixed deposits.

It usually requires for a longer tenure and a larger minimum deposit amount

JOINT FIXED DEPOSIT

Joint fixed deposit enables several people to open a fixed deposit account together.

Each account holder receives a portion of the interest based on their share of the deposit.

FOREIGN CURRENCY FIXED DEPOSIT

Fixed deposit accounts in foreign currencies like US dollars, British pounds, or Euros are provided by certain banks in Nigeria.

For those who own foreign currency and would like to earn interest on it, this can be advantageous.

ISLAMIC FIXED DEPOSIT

Sharia-compliant fixed deposit accounts are provided by Islamic banks in Nigeria.

These accounts don’t charge interest or take payments in accordance with Islamic law.

Rather, profits arise from dividing up revenue from legal transactions.

CORPORATE FIXED DEPOSIT

Fixed deposit accounts created especially for corporate entities are provided by banks.

These accounts come with advantages like flexible terms and greater deposit limits that are designed to cater to the demands of businesses.

It is important to be aware that different banks and financial institutions in Nigeria may have different minimum deposit amounts, interest rates, and term lengths for fixed deposit accounts.

To find out the most recent details about a bank’s fixed deposit options, it is advisable to check with that particular bank.

TOP 10 LEADING BANKS FOR FIXED DEPOSIT ACCOUNT IN NIGERIA 2026

The following are the 10 leading banks for fixed deposit account in Nigeria this 2026:

UNITED BANK FOR AFRICA (UBA)

The Fixed Deposit account from United Bank for Africa (UBA) provides stability and security and can be used for short, medium, or long-term investments.

Offering an annual interest rate of 8%, the account requires a minimum deposit of ₦100,000.

Higher interest rates, fixed returns, variable tenure options, secured funds, and automatic renewal are some benefits of UBA’s set Deposit Account.

The minimum deposit requirement, inflation risk, set interest rate, and restricted flexibility are some drawbacks, though.

DLM ASSET MANAGEMENT LIMITED

DLM Asset Management Limited provides a Fixed Income Fund account that requires a minimum investment of ₦10,000.

This account encourages savings by allowing investors to deposit up to ₦10,000 at any time.

There are no penalty fees or hidden charges for withdrawals made after three months. The account has an annual interest rate of 15%.

DLM’s Fixed Income Fund provides investment options in private equity, real estate, and capital markets, as well as an experienced team, personalised service, and extensive knowledge.

However, there are also disadvantages, such as limited liquidity, the probability for losses, and management costs, which lower investment profits.

FIRST BANK OF NIGERIA

The First Bank of Nigeria Fixed Deposit Account offers an annual interest rate of 8% and a minimum deposits requirement of ₦10,000.

The First Bank Fixed Deposit Account offers high interest rates, swift account opening, customisable terms, and guaranteed returns.

It might not be appropriate for all investors, and there are early withdrawal penalties and liquidity restrictions.

GLOBUS BANK

With Globus Bank’s Fixed and Tenured Deposits, clients can deposit money with the bank for a predetermined amount of time.

With a three-month savings period and a minimum opening deposit of ₦10,000, the account offers a 7% annual interest return.

Globus Bank’s Fixed or Tenured Deposit offers high interest rates, easy account setup, adjustable periods, and assured returns.

However, there are drawbacks including low liquidity, fines for early withdrawal, and it might not be appropriate for investors who require fast growth or short-term access to their money.

ZENITH BANK

Zenith Bank provides a short-term investment known as the Zenith Bank Fixed Deposit, with a 30-90-day tenor and an agreed-upon or fixed rate.

It offers customers who are saving money for future projects competitive interest rates

The account offers a 7% annual interest return and can be started with ₦10,000 or more in savings.

Higher interest rates, set returns, various tenure options, security, and automatic renewal are some advantages of Zenith Bank fixed deposits.

However, there are drawbacks such as minimum deposit requirements, inflation risk, fixed interest rates, locked-in funds, and limited flexibility.

STERLING BANK

A long-term investment account known as a Sterling Bank Fixed Deposit is provided by Sterling Bank Plc and offers a reasonable rate for a minimum 30-day period.

At the conclusion of the prearranged tenor, customers may also decide to rollover their investment.

The account provides an annual interest rate of 7% and can be started with a minimum of ₦100,000.

The benefits of a Sterling Bank fixed deposit include tax advantages, high interest rates, quick account opening, customisable terms, and guaranteed returns.

It might not be appropriate for all investors, and there are early withdrawal penalties and liquidity restrictions.

FCMB

FCMB provides competitive interest rates on fixed deposit accounts, with annual rates ranging from 7% to 8%.

Customers can choose how much they want to invest, with a minimum of ₦10,000 and a maximum of ₦5,000,000.

With term options ranging from one month to three years, clients may match their investment to their financial objectives.

Furthermore, for added security, FCMB offers deposit insurance coverage up to ₦500,000 as a member of the Nigeria Deposit Insurance Corporation (NDIC).

Although profits on FCMB’s fixed deposit account are guaranteed, it is vital to be aware of the account’s restricted liquidity and possible early withdrawal penalties.

GUARANTY TRUST BANK (GTCo)

Fixed and Tenured Deposits from Guaranty Trust Bank give people and companies the chance to set aside money for the future over an extended period of time.

You can select a tenure from a minimum of 30 days to a maximum of 180 days thanks to the account’s flexible conditions.

Additionally, there is no additional fee for using GTBank’s fixed deposit account to access any of their electronic channels.

This account offers a number of benefits, including high interest rates, easy account opening, flexible terms, guaranteed returns, and access to GTBank’s electronic channels.

It is important to take into account the restrictions, though, which include low liquidity, early withdrawal fees, and the possibility that it won’t be appropriate for all investors.

STANBIC IBTC

The Max Yield Account from Stanbic IBTC allows you to save more quickly and offers the flexibility to make partial withdrawals in case of emergency.

A minimum balance of ₦10,000 is needed to open this account, and ₦5,000,000 is the maximum amount that can be invested.

The Max Yield Account has an annual interest rate that varies from 8% to 11%.

Guaranteed returns, flexible terms, the ability to open an account online, high interest rates, access to all Stanbic IBTC electronic channels, and bonus interest of up to 0.5% on your savings are just a few of the benefits of this account.

The account isn’t appropriate for all investors, and it has other restrictions like low liquidity and early withdrawal fees.

POLARIS BANK

Offering the characteristics of a savings, current, and fixed deposit account all in one, Polaris Wise is a high-yield savings account from Polaris Bank.

You are encouraged by this account to save more money in order to increase your income. You must have a minimum initial and operating balance of ₦10,000 in order to open a Polaris Wise account.

For balances under ₦100,000 or if the withdrawal limit is above three times the monthly maximum, interest forfeiture is applicable.

High interest rates, flexible terms, a free ATM card, no minimum balance requirements, easy account creation, online banking, and access to mobile apps are just a few of Polaris Wise’s benefits.

However, the account has drawbacks like low liquidity, early withdrawal fees, and it might not be appropriate for all investors.