@ Nitrogen thanks ,1st Bank gave me 9.46% for 91days

nitrogen:

91-day: 10.0000%

182-day: 10.2000%

364-day: 10.3190%

Thank God. The rates are heading North.

Gistdutch: @ Nitrogen thanks ,1st Bank gave me 9.46% for 91days

Still cool.

i don't know if its true for all UBA branches.i went to UBA at my end and one of their customer care told me that the minimum amount to buy Tbill is 10million.is anyone using UBA for tbill.is that the normal charges or the customer care personel misquote it

bedfordng: i don't know if its true for all UBA branches.i went to UBA at my end and one of their customer care told me that the minimum amount to buy Tbill is 10million.is anyone using UBA for tbill.is that the normal charges or the customer care personel misquote it

I do have TB with UBA and I think it start from N150,000.00

bedfordng: i don't know if its true for all UBA branches.i went to UBA at my end and one of their customer care told me that the minimum amount to buy Tbill is 10million.is anyone using UBA for tbill.is that the normal charges or the customer care personel misquote it

I do have TB with UBA and I think it start from N100,000.00

bedfordng: i don't know if its true for all UBA branches.i went to UBA at my end and one of their customer care told me that the minimum amount to buy Tbill is 10million.is anyone using UBA for tbill.is that the normal charges or the customer care personel misquote it

its 100k

TB is not looking encouraging nowadays, is there any other low risk investments one can dabble into with better interest rates?

sammily: TB is not looking encouraging nowadays, is there any other low risk investments one can dabble into with better interest rates?

Seriously, I dabbled into T-Bill recently after a colleague painted it 'with all glory". I was sceptical and then called my account officer, bank offered me 9.5% at 85 days. I threw in N400,000 as an experiment, they deducted about N391,000. I was then made to understand that they've paid me my profits in advance and it was about N9,000.

I was like WTF, my money will be locked up for the next 85 days with only N9,000 as profit. I didn't really look well before leaping. I'm only experienced in stocks and FD.


Those with T-bill experience and patience can shed more light on this.

sammily: TB is not looking encouraging nowadays, is there any other low risk investments one can dabble into with better interest rates?

Go for KGIF where ur guarantee principal, 12 percent interest. Also, u can also benefit frm additional 25 percent of the company profit.

Your investment is very small and its actually not good for you.One of my TB matured yesterday(180days) and I was like wow because the whole principal came back fully intact without any deduction……Its good especially when you can invest from 10M and above and thats when you can reap the benefit…..

dozzybaba:

Seriously, I dabbled into T-Bill recently after a colleague painted it 'with all glory". I was sceptical and then called my account officer, bank offered me 9.5% at 85 days. I threw in N400,000 as an experiment, they deducted about N391,000. I was then made to understand that they've paid me my profits in advance and it was about N9,000.

I was like WTF, my money will be locked up for the next 85 days with only N9,000 as profit. I didn't really look well before leaping. I'm only experienced in stocks and FD.


Those with T-bill experience and patience can shed more light on this.

Yem0350:
Go for KGIF where ur guarantee principal, 12 percent interest. Also, u can also benefit frm additional 25 percent of the company profit.

Thanks. I will do some research on it.

angelo82: Your investment is very small and its actually not good for you.One of my TB matured yesterday(180days) and I was like wow because the whole principal came back fully intact without any deduction……Its good especially when you can invest from 10M and above and thats when you can reap the benefit…..

Yeah it's tiny because i wanted to see what the proceedures look like and know what to expect before jumping in 'wholesale'.

But i thought 9.5% of my N400,000 should give me about N38,000 after 85 days..i was actually thinking in this line.

dozzybaba:

Yeah it's tiny because i wanted to see what the proceedures look like and know what to expect before jumping in 'wholesale'.

But i thought 9.5% of my N400,000 should give me about N38,000 after 85 days..i was actually thinking in this line.

Small simple interest calculation should have informed you that P.A in all bank transactions means leaving the money invested for 365 days...

feelamong:

Small simple interest calculation should have informed you that P.A in all bank transactions means leaving the money invested for 365 days...

Yeah..i knew that, i do FDs a lot. But Bankers and marketers don't always tell you what's in 'fine print' when they want you 'to buy'. Especially when you are newbie to a certain investment 'niche'..It's an unwritten marketing and advertizing principle to always downplay the downsides of your services and products. I'm guilty of that too.


Thanks though...

My account officer said There wont be Any biding till the 20th of august.. Anyone with Idea about this?

timothy001: My account officer said There wont be Any biding till the 20th of august.. Anyone with Idea about this?

The 20th falls on a Wednesday, it might be correct. Every other Wednesday of the month.

AUSTAAI:

The 20th falls on a Wednesday, it might be correct. Every other Wednesday of the month.

its actually every forthnight wednesday

dozzybaba:

Yeah it's tiny because i wanted to see what the proceedures look like and know what to expect before jumping in 'wholesale'.

But i thought 9.5% of my N400,000 should give me about N38,000 after 85 days..i was actually thinking in this line.

. This man, na so you like money reach.

Chillisauce:

. This man, na so you like money reach.

LOL don't mind the the dude

Chillisauce:

. This man, na so you like money reach.

Who no like money?....

dozzybaba:

Yeah..i knew that, i do FDs a lot. But Bankers and marketers don't always tell you what's in 'fine print' when they want you 'to buy'. Especially when you are newbie to a certain investment 'niche'..It's an unwritten marketing and advertizing principle to always downplay the downsides of your services and products. I'm guilty of that too.


Thanks though...

If you do FD, then you should be familiar with bank rates. There's no serious difference in the arithmetic

The bank didn't downplay anything

walcolm:

If you do FD, then you should be familiar with bank rates. There's no serious difference in the arithmetic

The bank didn't downplay anything

Mister Oga...the call consultant i spoke to just before i ordered the T-bills wasn't very clear on the bank rates. She sounded as though T-bills were entirely different from FD...Gerrit?

I doubt if she even knew very much. Anyway i'll try and liquidate next week if possible but i'll find out about all the implications and demerits that comes with. So i don't get burned.

ajsans: http://www.vanguardngr.com/2014/08/treasury-bill-scam-continues-flourish/

Was reading and got bored after the third paragraph...who's this turd?

What a stupid headline- would make you think some poor old fellows have been getting jacked.

dozzybaba:

Mister Oga...the call consultant i spoke to just before i ordered the T-bills wasn't very clear on the bank rates. She sounded as though T-bills were entirely different from FD...Gerrit?

I doubt if she even knew very much. Anyway i'll try and liquidate next week if possible but i'll find out about all the implications and demerits that comes with. So i don't get burned.

You did not do your research well. Fixed deposit can hardly pay you 6%. Treasury bills is paying 10% plus. And you are complaining.

ajsans: http://www.vanguardngr.com/2014/08/treasury-bill-scam-continues-flourish/

"Conversely, the European Central Bank has successfully managed the challenge of excess liquidity by directing that European banks would henceforth pay the ECB a token interest rate of 0.1 percent on their surplus cash balances. Instructively, if CBN adopts such a strategy the days of easy profits for banks, would be over and banks would be forced to look to providing the real sector with ready access to cheap funds which will stimulate economic growth" - See more at: http://www.vanguardngr.com/2014/08/treasury-bill-scam-continues-flourish/#sthash.ltVloqsS.dpuf

really??

Please has bidding ended?? What are the rates?? And Can I get Tbils on thursday

when is the next auction pls?

ikemefunam: when is the next auction pls?

Next week wednesday.

dozzybaba:

Seriously, I dabbled into T-Bill recently after a colleague painted it 'with all glory". I was sceptical and then called my account officer, bank offered me 9.5% at 85 days. I threw in N400,000 as an experiment, they deducted about N391,000. I was then made to understand that they've paid me my profits in advance and it was about N9,000.

I was like WTF, my money will be locked up for the next 85 days with only N9,000 as profit. I didn't really look well before leaping. I'm only experienced in stocks and FD.


Those with T-bill experience and patience can shed more light on this.

Do ur findings well and u will see Tbills is still better than the FD at least for now.