5 Best Banks with Low Charges in Nigeria

Are you looking for the Best Banks with Low Charges in Nigeria? If yes, then you are in the right place.

In this article, I will share with you the 5 best banks with low charges in Nigeria, based on my research and experience. 

These banks are not only affordable, but also reliable, convenient, and customer-friendly. 

They offer a range of banking solutions, from savings and current accounts to loans and investments, to digital and mobile banking.

After reading this article, you will have a clear idea of which bank suits your needs and preferences. 

So, without further ado, let’s get started!

Check out Best Banks in Nigeria to Open savings Account for Kids and Children in 2023

Best Banks with Low Charges in Nigeria

1. Zenith Bank

Zenith Bank is one of the leading Best Banks with Low Charges in Nigeria, with over 500 branches and 2,000 ATMs nationwide. 

It is widely recognized for its low charges and excellent customer service. 

With Zenith Bank, you can enjoy the following benefits:

• A savings account with a minimum opening balance of N1,000 and a monthly interest rate of 1.15%.
• A current account with a minimum opening balance of N5,000 and a monthly maintenance fee of N1,000.
• A salary account with a minimum opening balance of N0 and a monthly interest rate of 1.25%.
• A personal loan with an interest rate of 26% per annum and a tenor of up to 60 months.
• A mortgage loan with an interest rate of 19% per annum and a tenor of up to 20 years.
• A car loan with an interest rate of 24% per annum and a tenor of up to 48 months.
•  A business loan with an interest rate of 23% per annum and a tenor of up to 36 months.
• A digital banking platform that allows you to access your account, transfer funds, pay bills, buy airtime, and more, using your smartphone, tablet, or computer.
• A customer care service that is available 24/7 via phone, email, or social media.

To open an account with Zenith Bank, you will need to provide the following documents:

• A valid means of identification, such as a national ID card, driver’s license, international passport, or voter’s card.
• A recent passport photograph.
• A utility bill, such as electricity, water, or telephone bill, is not older than three months.
• A reference letter from a Zenith Bank account holder, a reputable organization, or a religious leader.

2. GTBank

GTBank is another popular bank in Nigeria, with over 230 branches and 1,165 ATMs nationwide. 

It is known for its transparent fee structure, including low charges for various banking services. 

With GTBank, you can enjoy the following benefits:

• A savings account with a minimum opening balance of N1,000 and a monthly interest rate of 1.15%.
• A current account with a minimum opening balance of N5,000 and a monthly maintenance fee of N1,000.
• A salary account with a minimum opening balance of N0 and a monthly interest rate of 1.25%.
• A personal loan with an interest rate of 21% per annum and a tenor of up to 48 months.
• A mortgage loan with an interest rate of 18% per annum and a tenor of up to 20 years.
• A car loan with an interest rate of 20% per annum and a tenor of up to 48 months.
• A business loan with an interest rate of 19% per annum and a tenor of up to 36 months.
• A digital banking platform that allows you to access your account, transfer funds, pay bills, buy airtime, and more, using your smartphone, tablet, or computer.
• A customer care service that is available 24/7 via phone, email, or social media.

To open an account with GTBank, you need to provide the following documents:

• A valid means of identification, such as a national ID card, driver’s license, international passport, or voter’s card.
• A recent passport photograph.
• A utility bill, such as electricity, water, or telephone bill, not older than three months.

People also read GTB Internet Banking and GTWorld Mobile Banking App Login with Phone Number, Email, Online Portal, Website

3. Access Bank

Access Bank is also one of the largest banks in Nigeria, with over 600 branches and 2,600 ATMs nationwide. 

As one of the Best Banks with Low Charges in Nigeria, It offers customers low-cost banking solutions. 

With Access Bank, you can enjoy the following benefits:

• A savings account with a minimum opening balance of N1,000 and a monthly interest rate of 1.15%.
• A current account with a minimum opening balance of N5,000 and a monthly maintenance fee of N1,000.
• A salary account with a minimum opening balance of N0 and a monthly interest rate of 1.25%.
• A personal loan with an interest rate of 20% per annum and a tenor of up to 60 months.
• A mortgage loan with an interest rate of 17% per annum and a tenor of up to 20 years.
• A car loan with an interest rate of 18% per annum and a tenor of up to 48 months.
• A business loan with an interest rate of 18% per annum and a tenor of up to 36 months.

To open an account with Access Bank, you need to provide the following documents:

• A valid means of identification, such as a national ID card, driver’s license, international passport, or voter’s card.
• A recent passport photograph.
• A utility bill, such as electricity, water, or telephone bill, not older than three months.

4. UBA

UBA is one of the oldest banks in Nigeria, with over 700 branches and 2,000 ATMs nationwide. 

It stands out with its attractive rates and low charges for various banking services. 

With UBA, you can enjoy the following benefits:

• A savings account with a minimum opening balance of N1,000 and a monthly interest rate of 1.15%.
• A current account with a minimum opening balance of N5,000 and a monthly maintenance fee of N1,000.
• A salary account with a minimum opening balance of N0 and a monthly interest rate of 1.25%.
• A personal loan with an interest rate of 19% per annum and a tenor of up to 60 months.
• A mortgage loan with an interest rate of 16% per annum and a tenor of up to 20 years.
• A car loan with an interest rate of 17% per annum and a tenor of up to 48 months.
• A business loan with an interest rate of 17% per annum and a tenor of up to 36 months.

To open an account with UBA, you need to provide the following documents:

• A valid means of identification, such as a national ID card, driver’s license, international passport, or voter’s card.
• A recent passport photograph.
• A utility bill, such as electricity, water, or telephone bill, not older than three months.

5. First Bank

First Bank is one of the oldest and largest Banks with Low Charges in Nigeria, with over 750 branches and 3,000 ATMs nationwide. 

It is well-known for its low charges and flexible banking services. 

With First Bank, you can enjoy the following benefits:

• A savings account with a minimum opening balance of N1,000 and a monthly interest rate of 1.15%.
• A current account with a minimum opening balance of N5,000 and a monthly maintenance fee of N1,000.
• A salary account with a minimum opening balance of N0 and a monthly interest rate of 1.25%.
• A personal loan with an interest rate of 18% per annum and a tenor of up to 60 months.
• A mortgage loan with an interest rate of 15% per annum and a tenor of up to 20 years.
• A car loan with an interest rate of 16% per annum and a tenor of up to 48 months.
• A business loan with an interest rate of 16% per annum and a tenor of up to 36 months.

To open an account with First Bank, you need to provide the following documents:

• A valid means of identification, such as a national ID card, driver’s license, international passport, or voter’s card.
• A recent passport photograph.
• A utility bill, such as electricity, water, or telephone bill, not older than three months.

See First Bank Online and Mobile Banking App Login with Phone Number, Email, Online Portal, Website

Conclusion on the Best Banks with Low Charges in Nigeria

In this article, I have shared with you the 5 best banks with low charges in Nigeria. 

These banks offer low charges and high value for various banking services, such as savings and current accounts, loans and investments, and digital and mobile banking. 

They are also reliable, convenient, and customer-friendly.

I hope you found this article useful and informative. If you did, please share it with your friends and family who might be interested in finding the best bank for them. Also, feel free to leave a comment below and let me know what you think.