Interest Spread (Difference Between Interest Rate on Loans and Deposits) in Nigeria

Interest spread, which is the difference between interest rate on loans and deposits reached 8.00 % in 2017 in Nigeria, according to the National Central Bank. This is 14.7 % less than in the previous year.

Historically, interest spread, which is the difference between interest rate on loans and deposits in Nigeria reached an all time high of 11.1 % in 2010 and an all time low of 0.317 % in 1985. When compared to Nigeria's main peers, interest spread, which is the difference between interest rate on loans and deposits in Benin amounted to -1.35 % and -1.35 % in Niger in 2017.

Nigeria has been ranked 29th within the group of 103 countries we follow in terms of interest spread, which is the difference between interest rate on loans and deposits, 27 places above the position seen 10 years ago.

Interest rate spread is the interest rate charged by banks on loans to prime customers minus the interest rate paid by commercial banks for demand, time, or savings deposits.

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