Have you heard of GTBank fixed deposit? Or you might want to ask, what is the interest rate for gtb fixed deposit. If yes, in this post you will learn more about the GTBank Fixed Deposit and Interest Rates.
GTBank offers you the opportunity to have a fixed deposit account where you can earn monthly deposit interest based on the amount fixed, term duration as well as the interest rates.
A fixed deposit is a financial tool used by banks to offer customers with higher interest rate more that ordinary saving. In fixed deposit, you don’t need to open a new bank account if you already have an account with the bank you intend to fixed your money.
I was actually interested in opening a fixed deposit account with GTBank. So, I was involved in the Facebook conversation on how to own GTBank fixed deposit and interest rates. In the conversation, the GTBank customer care representation outlined the details concerning the interest rates.
I know other people apart from will needs this information. See the snapshot below.
According to the information, you can make serious money every month if you fix a reasonable amount of money in GTBank fixed deposit. He said that you will need of have at least NGN100,000 [Hundred Thousand Naira] to get a foxed deposit account.
See the deposit amount the the breakdown of the expected commissions.
NGN100,000 – NGN1Million: If you fix from NGN100,000 to NGN1Million, the interest rate are as follows;
7 days – 0.5%
30 days – 6.75%
60 days – 6.75%
180 Days – 6.75%
What this mean is that if you fix NGN500,000 [Five Hundred Thousand Naira] for 30 days, the interest rate will be 6.75% of NGN500,000. This is Thirty Eight Thousand Seven Hundred and Fifty Naira [NGN38,750].
This is a fat sum of money to get every while doing nothing. It’s a good way to save money.
If you fix from one million naira, the interest rate for 30 days is 7.75%. See the breakdown below;
7 days – 0.5%
30 days – 7.75%
60 days – 7.75%
180 days – 7.75%
This mean that if you fix NGN1,000,000 for 30 days, you could get whooping NGN77,500 [Seventy Seven Thousand Five Hundred Naira]
If you fix from NGN10Million [Ten Million Naira] from 30 days, you could get an interest rate of 8.75%. See the breakdown below.
7 days – 0.5%
30 days – 8.75%
60 days – 8.75%
180 days – 8.75%
This means that you can make a whooping NGN875,000 from fixing NGN10Million for just 30 days.
There was no confirmation if there are hidden charges. If these figures about the interest rates are true, you will surely agree with me that its a good business.
Do you have any experience about GTBank fixed deposit? If yes, do well to share your experience and help others to learn. If you have other support information, kindly submit them to us. Use the comments section below.
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