We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
The MSE Forum Team would like to wish you all a Merry Christmas. However, we know this time of year can be difficult for some. If you're struggling during the festive period, here's a list of organisations that might be able to help
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Has MSE helped you to save or reclaim money this year? Share your 2025 MoneySaving success stories!
Zenith Bank Interest Rate
dosh37
Posts: 545 Forumite
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.
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.
0
Comments
-
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.0
-
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!0
-
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 bankTopDown 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!1 -
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.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!
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
0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.9K Banking & Borrowing
- 253.9K Reduce Debt & Boost Income
- 454.7K Spending & Discounts
- 246K Work, Benefits & Business
- 602.1K Mortgages, Homes & Bills
- 177.8K Life & Family
- 259.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards