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Nairaland Forum / Nairaland / General / Investment / Treasury Bills In Nigeria (4603930 Views)
Fixed Deposits Or Treasury Bills, Which Is Better? / Fixed Deposit And Treasury Bill Investments From Abroad / I Need Information On Treasury Bills In Nigeria (2) (3) (4)
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Re: Treasury Bills In Nigeria by mindtricks: 11:33am On Aug 07, 2020 |
ahiboilandgas: ![]() While company makes profit, audience get entertained. That's about it. I really don't see value in it. |
Re: Treasury Bills In Nigeria by DexterousOne(m): 11:56am On Aug 07, 2020 |
mindtricks: That's the thing There is a program for every category of person 1 Like |
Re: Treasury Bills In Nigeria by ojesymsym: 1:50pm On Aug 07, 2020 |
Please I need some clarification. A friend wants to take a loan of 1 million from a microfinance bank and they told him 5% per month to be paid back on the 6th month. He is telling me that, that means 30% but I am telling him that irrespective of the 6 months term that the rate is actually 60%, if it is 60% then this loan is a terrible loan if you ask me. What are your thoughts? |
Re: Treasury Bills In Nigeria by emmanuelewumi(m): 2:17pm On Aug 07, 2020 |
ojesymsym: That is about the rate from microfinance bank. It depends on what he wants to do with the fund. Not bad if he can convert the N1 million to N2 million in 6 months, and the interest will be on a reducing balance basis |
Re: Treasury Bills In Nigeria by ahiboilandgas: 2:19pm On Aug 07, 2020 |
ojesymsym:why will u do that when ..conventional bank are hustling clients for 1.33 permonths....this not loan but armrobbery 60 percent per anum... 8 Likes |
Re: Treasury Bills In Nigeria by ojesymsym: 2:20pm On Aug 07, 2020 |
Thanks for your response. He is investing it in his business. What about those Fintech loans, do they offer similar or better rates? What do you mean by reducing balance? emmanuelewumi: |
Re: Treasury Bills In Nigeria by ojesymsym: 2:21pm On Aug 07, 2020 |
I told him to try commercial banks that they are looking for who to give loans. ahiboilandgas: |
Re: Treasury Bills In Nigeria by NL1960: 2:32pm On Aug 07, 2020 |
emmanuelewumi: Microfinance banks do not operate reducing balance basis. It is strictly flat. That is why they state their rates as per month. |
Re: Treasury Bills In Nigeria by emmanuelewumi(m): 2:40pm On Aug 07, 2020 |
NL1960: They do. You got a loan of N1 million You paid interest of N5000 on the loan and then used 200k to service the loan. Nest month you will pay interest of 5% on 800k 1 Like |
Re: Treasury Bills In Nigeria by NL1960: 2:47pm On Aug 07, 2020 |
ahiboilandgas: A conventional bank will only give consumer loans at 1.33 per month. The security or collateral is the salary account domiciled in the bank. The clientele of the Microfinance banks do not have collateral or security. The conventional bank will not give that person a loan without collateral or security and where will the person get the collateral from?. |
Re: Treasury Bills In Nigeria by Ghost01(m): 2:53pm On Aug 07, 2020 |
ojesymsym:Nigerian Fintechs are into predatory lending. By the time you annualise the monthly interest rate they are offering, it may exceed 100%. Let your friend try NIRSAL MFB. 4 Likes |
Re: Treasury Bills In Nigeria by NL1960: 2:56pm On Aug 07, 2020 |
emmanuelewumi: That is reducing balance. MFBs do not do that. They do strictly flat. A loan of 1m on monthly basis will be: Monthly Principal = Loan Amount / Tenor = 1,000,000 /6 = 166, 666.67 Monthly Interest = Loan Amount * (Rate / 100) = 1,000,000 * 0.05 = 50,000.00 Total Monthly Repayment = Monthly Principal + Monthly Interest = 166, 666.67 + 50,000.00 = 215,666.67 Total Amount repaid at 6 months = Total Principal + Total Interest = 1,000,000.00 + 300,000.00 = 1,300,000.00 3 Likes |
Re: Treasury Bills In Nigeria by einsteine(m): 3:07pm On Aug 07, 2020 |
emmanuelewumi: Maybe that's for some. Every single microfinance loan I have seen has been flat rate. You even pay a fee for early repayment for some. |
Re: Treasury Bills In Nigeria by einsteine(m): 3:07pm On Aug 07, 2020 |
ojesymsym: It is effectively 60 percent per annum. |
Re: Treasury Bills In Nigeria by einsteine(m): 3:09pm On Aug 07, 2020 |
Even GTB's 1.3 percent per month is flat, not reducing balance. |
Re: Treasury Bills In Nigeria by emmanuelewumi(m): 3:28pm On Aug 07, 2020 |
einsteine: If interest is flat, you should opt for a monthly pay of interest and bullet repayment of the loan at maturity 2 Likes |
Re: Treasury Bills In Nigeria by emmanuelewumi(m): 3:30pm On Aug 07, 2020 |
einsteine: You make a flat payment every month, which includes both interest and principal. |
Re: Treasury Bills In Nigeria by odimbannamdi(m): 6:05pm On Aug 07, 2020 |
Iogobenz: You sound so much like TheConglomerate |
Re: Treasury Bills In Nigeria by ojesymsym: 6:08pm On Aug 07, 2020 |
Is NIRSAL not just for agric related loans? Ghost01: |
Re: Treasury Bills In Nigeria by proeast(m): 6:37pm On Aug 07, 2020 |
Nezzjnr: Honestly, we shouldn't allow the madness of politics to spoil the beauty of this thread. |
Re: Treasury Bills In Nigeria by afroxyz: 7:30pm On Aug 07, 2020 |
mindtricks:The value is in the entertainment it gives them ![]() |
Re: Treasury Bills In Nigeria by mickky22: 7:52pm On Aug 07, 2020 |
That is reducing balance. MFBs do not do that. They do strictly flat. A loan of 1m on monthly basis will be: Monthly Principal = Loan Amount / Te You didn't add administrative fee. |
Re: Treasury Bills In Nigeria by mickky22: 7:56pm On Aug 07, 2020 |
NL1960: You didn't administrative fee. 1 Like |
Re: Treasury Bills In Nigeria by NL1960: 8:40pm On Aug 07, 2020 |
mickky22: Administrative fee is one off and is not monthly. 1 Like |
Re: Treasury Bills In Nigeria by Ghost01(m): 8:40pm On Aug 07, 2020 |
ojesymsym:CBN's N50 billion credit facility targeted at MSMEs is being disbursed by NIRSAL MFB. |
Re: Treasury Bills In Nigeria by ojesymsym: 9:18pm On Aug 07, 2020 |
How do business people survive with such loans? mickky22: |
Re: Treasury Bills In Nigeria by Iogobenz(m): 9:24pm On Aug 07, 2020 |
ojesymsym:Smugglers,arbitrators,monopolists,etc... No legit thing will yield that kind of money as interest for bank and still stay afloat longterm.. |
Re: Treasury Bills In Nigeria by Salliet(m): 4:28pm On Aug 08, 2020 |
ojesymsym: 1. It's not 60 but 30% 2. It's not p.a. but flat rate 3. It's still not 30% on the principal but a reducing balance. I'll suggest you give Page financial a trial. They offered me 3.6% on 5m for a year. Although I was seeking the loan for a business partner. 1 Like |
Re: Treasury Bills In Nigeria by Salliet(m): 4:38pm On Aug 08, 2020 |
ahiboilandgas: Yes o, my contact in United capital told me so, couldn't believe my ears. Please they should not dilute it with oversubscription like T-Bills o... |
Re: Treasury Bills In Nigeria by Salliet(m): 4:57pm On Aug 08, 2020 |
ojesymsym: Such loans are useful based on: 1. Short termed loans (preferably 1 to 2 months) e.g. for clearing consignment for immediate delivery to guaranteed buyers, meeting school fees or other financial obligations/deadlines ahead of payday etc. 2. Requires little or no collateral. They mostly work with your credit worthiness. 3. Requires minimal paperwork most are even paperless. 4. Crash processing time. Some are able to disburse within 24hours if all requirements are provided timely and correctly. You don't use such loan sharks for developing a business or building projects. It's a bad idea! |
Re: Treasury Bills In Nigeria by healthserve(m): 4:57pm On Aug 08, 2020 |
ahiboilandgas: Bro. Logged in after months and flood of mentions. What's up? |
Re: Treasury Bills In Nigeria by ahiboilandgas: 5:02pm On Aug 08, 2020 |
healthserve:chai welcome back some people have been doing plagiarism of your writting patterns..... 3 Likes |
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