In a recent report from the Vanguard Group, 74% of millennials are eager to learn about how to invest their incomes for higher return on investment. This is done to earn profit, secure future financial stability meaning that for the average millennial, solving financial problems in the present & the future is a major concern.
However, what is of paramount importance than the types of investment options available for millennials is the risk factor for every available investment option. This results in the categorization of the two main types of millennial investors – the high-risk income investor & the low risk income investor.
The high -risk income millennial investors are those millennials who a earn high income and want to generate the highest possible return on investment without incurring any loss on principal. For the high-risk income investor, the higher the return on investment, the higher the risk and this forms the basis of the decision on the types of investment to consider. Most high-risk income investors are often victims of fraudulent online investment platforms because of the convenience & quick execution benefits it promises without making an extensive research on the information, security, privacy and reliability risks of such platforms.
One of the most secure investment option sis the fixed deposit. This is an investment with a specific amount invested at an agreed interest rate and tenor. All banks in Nigeria offer this investment opportunity, however the rates you get when you invest in one bank may differ from what you get from another and are not quite encouraging. However, I have tried the Advans Future Gold term deposit product by Advans La Fayette microfinance bank and is the most profitable fixed deposit I have seen in Nigeria. I have enjoyed benefits such as:
Interest rate of up to 12% which is one of the highest interest rates on fixed deposit in Nigeria, No COT or closing fee charges, Minimum opening balance of 50,000 naira. The Advans Future Gold offer is also the only product that comes with upfront interest payment without any extra charges. This shows real value for your money.
Advans La Fayette microfinance bank is an international MFB licensed by the CBN and a member of the Advans Group with over a million clients in 9 countries. The microfinance bank is backed by shareholders such as Advans SA SICAR, the World Bank and the KFW development bank based in Germany. To find out more info call 07000238267, or sign up here: https://forms.gle/AnqxbdECM1eyR3SC9