A fixed deposit account in Nigeria lets you place a lump sum with a bank or licensed institution for a set period and earn more than a regular savings account. 

Returns are predictable and risk is relatively low, which is helpful in an economy facing inflation and currency swings. Rates and terms change often, so confirm current offers before you lock in funds.

How we picked the accounts

We focused on the headline interest rate, the minimum amount required to start, the range of tenors from 30 to 365 days, the provider’s reputation and safety, and how easy it is to open and manage the deposit online. This gives a practical view of yield, access, and peace of mind.

Rank Capital — Fixed Deposit

Rank Capital targets savers chasing high yields, with rates up to 27% per annum on longer tenors. The minimum placement is ₦500,000, and tenors run from 90 to 365 days. It suits investors who can commit larger sums and want personalised support, but the higher entry amount means it is less accessible for first-time or small-ticket savers.

FrimEdge (Firmus Microfinance Bank) — Fixed Deposit

FrimEdge offers one of the stronger microfinance deposit deals, reaching 21% per annum. You can start from ₦100,000, with 30 to 365 days available. Online account management and flexible interest payouts make it convenient for moderate savers. The main trade-off is a smaller physical branch network compared with big commercial banks.

Imperial Capital Advisers — Fixed Deposit

Imperial Capital pairs competitive yield with white-glove service. Rates go up to 20% per annum, with a ₦200,000 minimum and 30 to 365-day options. Dedicated managers and tailored payout schedules make it attractive for larger tickets. Be aware that early liquidation can attract penalties, so choose a tenor you can keep.

Zenith Bank — Fixed Deposit Account

Zenith brings blue-chip safety and strong digital banking. Depending on tenor and amount, rates reach up to 12% per annum. You can start from ₦50,000, with 30 to 365-day placements and the choice of monthly interest or payment at maturity. It is a good fit for savers who value a big bank’s platforms and support, though early-exit flexibility is limited.

Renmoney — Fixed Deposit

Renmoney keeps things simple for everyday savers. Rates climb up to 12% per annum, the minimum is ₦50,000, and tenors run 30 to 365 days. The end-to-end online application is quick and the terms are clear. The ceiling is lower than the investment-focused firms above, but accessibility is the draw.