Does Interest Rate Really Stimulate Savings in Nigeria?

Abstract

Research background: Interest rate as a stimulus to savings has been discussed by many scholars while ancient scholars kicked against the collection of usury (interest). Developing countries like Nigeria may not be stimulated with the rate of interest because of its insignificant level, which is presently causing financial exclusion against the opponents of interest.

Keywords

• deposit rate
• interest rate
• insecurity
• savings
• treasury bill
• e40
• e43
• e51