What interest rate do I earn?
Cashmatrix savings earn up to 15% per annum depending on the plan and duration. Interest is calculated daily and credited at the end of the savings pe...
Last updated August 5, 2026
Cashmatrix offers competitive interest rates on savings goals.
Interest rates
| Duration | Interest rate (per annum) |
|----------|--------------------------|
| 30 days | 8% |
| 60 days | 10% |
| 90 days | 12% |
| 180 days | 14% |
| 365 days | 15% |
How interest is calculated
- Interest is calculated daily on your closing balance.
- Interest is credited at the end of the savings period.
- Interest is compounded — you earn interest on your interest.
Example
If you save ₦100,000 for 90 days at 12% p.a.:
- Daily interest: ₦100,000 × 12% ÷ 365 = ₦32.88
- Total interest for 90 days: ₦32.88 × 90 = ₦2,959.18
- Total at maturity: ₦102,959.18
Important notes
- Interest rates may change. The rate shown when you create your goal is locked in for that goal.
- Interest is subject to withholding tax (10% for interest above ₦100,000 per year).
- Early withdrawal forfeits accrued interest for the current period.
Tip: Use the Savings Calculator in the app to see projected returns before creating a goal.
Need a hand? Email hello@cashmatrix.ng.