Nigeria vs South Africa: Deposit interest rate
Nigeria
7.8%
in 2023
South Africa
7.4%
in 2025
Nigeria rank
28th
South Africa rank
30th
Deposit interest rate over time
- Nigeria
- South Africa
How they compare
Nigeria currently reports 7.8% against 7.4% in South Africa, a difference of 0.4%.
That makes Nigeria's figure about 1.1 times South Africa's.
The two have swapped places 2 times across 23 shared years of data; in 2001 it was Nigeria ahead.
Nigeria ranks 28th and South Africa ranks 30th of 153 countries.
Nigeria has averaged higher in every one of the 3 decades both report.
Head to head by decade
| Decade | Nigeria | South Africa | Difference | Ahead |
|---|---|---|---|---|
| 2000s | 12.8% | 8.7% | 4.1% | Nigeria |
| 2010s | 8.3% | 6.3% | 2.0% | Nigeria |
| 2020s | 5.7% | 5.1% | 0.6% | Nigeria |
Averages of every year both report within each decade.
Frequently asked questions
- Which has higher deposit interest rate, Nigeria or South Africa?
- Nigeria, at 7.8% against 7.4% in South Africa as of 2023.
- What is the difference in deposit interest rate between Nigeria and South Africa?
- 0.4%, with Nigeria ahead.
- How many years of comparable data are there for Nigeria and South Africa?
- 23 years are reported by both, from 2001 to 2023.
- How do Nigeria and South Africa rank globally for deposit interest rate?
- Nigeria ranks 28th and South Africa ranks 30th of 153 countries.
- Where does this data come from?
- International Financial Statistics database, International Monetary Fund (IMF), published as Deposit interest rate (%). Statizoid refreshes it automatically from the source and publishes the full history for both places.
Individual pages
About this data
Deposit interest rate is the rate paid by commercial or similar banks for demand, time, or savings deposits. The terms and conditions attached to these rates differ by country, however, limiting their comparability. This indicator is expressed as a percentage (a÷b)*100.