Have you ever thought of how big and large you can earn some good interest on the money you have on your savings account? Apply for High-Interest Savings Accounts and get your account smile at you.
You will think that banks are doing you a favour with the low interests they add to your money pile periodically, but the bonus may get wiped out by bank transaction costs and maintenance charges.

Below here we will present a list of High-Interest Savings Accounts, the best options for growing your savings with the banks. They are also a great way to really save some of the benefits they give are tied to your ability to retain a minimum account balance, and making withdrawals less frequently.
FCMB’s Premium Savings Account
The FCMB’s Premium Savings Account pays interest of up to 4% for deposits that remain at or over ₦100,000. While unlimited withdrawals can be made, you’ll forfeit your right to the interest for a month if you take money out more than three times in that period.
Requirement for High-Interest Savings Accounts
You can apply for this account with a minimum balance of ₦100,000. You will be required to present the following to open the account:
- Two references if you’re a new customer.
- A formal means of identification (National ID, Personal Voter’s card, International Passport or Driver’s License)
- A copy of a receipt from public utilities dated no more than three months.
- One passport photograph for each authorized signatory.
When you’ve got the necessary requirement for the account you can now proceed to any FCMB close to you to start enjoying bonuses on your savings account.
Standard Chartered eSavers Account
This is online savings account you can literally right where you are now. The eSavers account has a graduated scale for interest payable, which is tied to the balance kept by the customer.
A 4.2% interest accumulation on accounts with less than ₦500,000. This goes up to 5% for amounts between ₦500,000 and ₦1.9 million, 7% for amounts between ₦2million and ₦4.9 million, and 10% if it’s over ₦5 million.
There are also no charges for maintenance fees. But interest payments are suspended for one month if there are more than four withdrawals in that month.
Requirement
- The opening balance for this account is ₦50,000.
- Some of the documents you’ll need to set up are:
- Two references
- One passport photograph
- A valid means of identification (National ID, Personal Voter’s card, International Passport or Driver’s License)
- Proof of residential address (e.g. utility bill not older than three months).
- ₦50 stamp
Zenith Bank EazySave Premium Account
The EazySave Premium Account is designed to accommodate a large population. You can set up with zero account balance, and earn 4.2% interest each year on your balance when the savings begin to roll in.
But it has its limits. You are not allowed to deposit more than ₦100,000 at one go. Also, you can only hold a maximum of ₦500,000 with this account.
Requirement
The requirements for opening an EazySave Premium account include:
- A completed account opening form.
- One recent passport photograph of the signatory.
- Valid means of identification (National ID, Personal Voter’s card, International Passport or Driver’s License).
Stanbic Max Yield Savings Account
This account offers you a 4.2% interest rate on deposits (this rate climbs to 6.2% if you deposit ₦100,000 or more per day).
It comes with most of the services you’ll get with regular savings accounts, like money transfers via internet banking, bill payments, ATM withdrawals, and international transactions.
However, you won’t be allowed to hold more than ₦2million with it
Requirement
You’ll need a minimum of ₦10,000 to open a Max Yield Savings Account; it’s also necessary to maintain a minimum balance of ₦2,000 at any given time. Documents you’ll have to provide include:
- An account opening form.
- Two recent passport photographs.
- BVN
- Proof of residential address.
- Formal identification (National ID, Voters card, international transport, or driver’s license)
Access Bank’s High-Interest Deposit Account (HIDA)
The Access bank HIDA was originally initiated and offered by Diamond Bank; it became part of Access Bank’s account options when both banks merged.
This savings account bears annual interest of 4.5% on balances of between ₦100,000 and ₦1 million, and 2% for amounts below the ₦100,000 threshold. If your savings exceed ₦1 million and are less than ₦5 million, the rate rises to 5%. Account balances greater than this are topped up by 6% each year.
You won’t be paying maintenance fees on debit cards- this account doesn’t come with one. It’s an extra measure designed to help you cut down on your spending and accumulate more savings. You can also make four withdrawals per month.
This is the necessary item you’ll need to open this account include:
- An official means of identification or a valid ID.
- One passport photograph,
- A document that verifies your address.
GT Target Savings Account
The Guaranty Trust Bank Target Savings Account offers an interest rate of 3.6 % per year, and an additional 1% interest payment for you who don’t go below their minimum balance of ₦5,000 throughout one year.
You can open this account via GTbank internet banking facility, or at any of their branches nationwide. The interest accrues daily and is credited to your account every six months. However, this means that interest won’t begin to be paid until six months after the account has been set up.
If you’d like to open one, you can sign up and login on the bank’s website, and set up a Target Savings Account there. This can also be done at any GT bank branch.
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