Zenith Bank Interest Rate

dosh37

I applied for a 1 year bond with Zenith Bank yesterday.
The interest rate then was given as 1.8%.
That figure was included in the application confirmation email I received from them.

Today the interest rate has dropped to 1.75%.


The FAQ on the Zenith Bank website says:-"Your transfer must reach us within 14 calendar days from application approval date to qualify for the interest rate you have applied for."


That suggests the interest rate I receive should be the rate when the account was opened or approved rather than after the full deposit has been transferred.


Can anyone confirm that this is indeed the case?


I've sent them an email asking the question but have not yet received a reply.

Neil_Jones

Seems pretty clear to me, if you applied when it was 1.8% then you get 1.8%. If it turns out you only get 1.75% then use your cooling off period to close the account.

TopDown

Is Zenith Bank genuine? Worried about the Nigeria connection - and they asked for a copy of a bank statement, which I won't be sending them!

eskbanker

TopDown said:

Is Zenith Bank genuine? Worried about the Nigeria connection

In what way?

colsten

TopDown said:

Is Zenith Bank genuine? Worried about the Nigeria connection - and they asked for a copy of a bank statement, which I won't be sending them!

They are authorised by the FCA, and as they have FSCS cover, your money with them won't be any less safe than it is with a UK High Street bank

SFindlay

TopDown said:

Is Zenith Bank genuine? Worried about the Nigeria connection - and they asked for a copy of a bank statement, which I won't be sending them!

Well they won't be opening an account for you then!! 

ratechaser

TopDown said:

Is Zenith Bank genuine? Worried about the Nigeria connection - and they asked for a copy of a bank statement, which I won't be sending them!

Ah yes of course, they are harvesting financial information that they can send back to all their Nigerian Prince friends, who will then contact you with all sorts of amazing proposals to get large sums of money out of the country.

All it requires is a small advance payment to cover administration. And best of all, they have your bank statement so know you can afford it