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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 CompareDBest: 5:01pm On Feb 19, 2019 |
Speedyconnect15:We admire your analysis sir/ma! Can you give specifics regarding your Access pre-liquidation so we have a better real life example for reference? There is 5% VAT on some/all fees depending on the bank and market you buy tbills from (not on the upfront interest itself). However, even if we assume this applied and his Rediscount Rate was the 11% common in FirstBank’s secondary market at the time, it still does not add up to 11k. We agree with your assessment; note also we believe the 25% penal charge probably comes from Fixed Deposit early termination treatment, which is 20% forfeiture of interest earned for FirstBank. We gave the example on that link not for the specifics, but because it states with the clearest evidence yet that you can lose part of your capital. If it helps, we have asked most commercial banks too and they echo that truth, in their own words, clear as day, black and white. |
Re: Treasury Bills In Nigeria by dexla(f): 6:28pm On Feb 19, 2019 |
CompareDBest: Thanks for this followup really appreciate. My bank is useless, requested them to invest my money in TBILLS twice and they kept giving me negative reports. Asked the account officer to re-invest my interest and they made me sound like i was talking gibberish. Eventually, they said they don't do it. I think i'll consider stanbic ibtc. polaris bank is a nightmare. 1 Like |
Re: Treasury Bills In Nigeria by eghos24(m): 6:45pm On Feb 19, 2019 |
Please guys. I saw someone once saying you don't need to have an account with stanbic before using them for treasury bills but when I went to the bank yesterday day. They said I need to open an account first. |
Re: Treasury Bills In Nigeria by Desanta(m): 8:24pm On Feb 19, 2019 |
eghos24:Yes you need to open an account with them first. 2 Likes |
Re: Treasury Bills In Nigeria by Nobody: 8:58pm On Feb 19, 2019 |
Speedyconnect15: Your grammatical structure and tenses is 10/10. Just thought I should point that out. 4 Likes 1 Share |
Re: Treasury Bills In Nigeria by Nobody: 10:51pm On Feb 19, 2019 |
ahiboilandgas: That canada express level ? Is it true an agent ? Pls am interested . ty 1 Like |
Re: Treasury Bills In Nigeria by dipoolowoo: 12:21am On Feb 20, 2019 |
T-Bills Yields Weaken to 14.06% on Absence of OMO Auction https://businesspost.ng/2019/02/20/t-bills-yields-weaken-to-14-06-on-absence-of-omo-auction/ |
Re: Treasury Bills In Nigeria by ahiboilandgas: 5:03am On Feb 20, 2019 |
tritritri:u don't need and agent...what u need is the ielts test,certificate evalution and listed work expirence ....if u points is above 450 your get your permant residency ...google Canadian express entry ....very self explanatory...... 5 Likes 1 Share |
Re: Treasury Bills In Nigeria by Nobody: 5:08am On Feb 20, 2019 |
ahiboilandgas: Thanks for xplaination , God bless |
Re: Treasury Bills In Nigeria by needful: 5:28am On Feb 20, 2019 |
tritritri: Am already in Canada and I travelled thru that means 3yrs ago. You can also look into provincial nomination to buttress ur point. Provinces like Nova Scotia, Prince Edward Island, New Brunswick, and Ontario will nominate you if u fall within their required occupation in demand. I forgot to add Saskachewan. Moving to Canada is the best thing ever. Best decision for me so far. Alot of jobs, peace of mind etc. Plus you will make money if you have an eye for a biz. 11 Likes 3 Shares |
Re: Treasury Bills In Nigeria by akpumpy: 6:33am On Feb 20, 2019 |
One good thing about the TB is that is allows you to save and as we all know” if you cannot save money, the seed of greatness is not in you”. A 5 year turnover TB investment will make all the difference. 4 Likes |
Re: Treasury Bills In Nigeria by lolaluv1(f): 10:22am On Feb 20, 2019 |
Please. When is the next t bills auction? |
Re: Treasury Bills In Nigeria by cutedharmee: 12:06pm On Feb 20, 2019 |
Pls house I did invest in NTB and money was deducted on d 27th of November for 90days. When is d liquidation pls |
Re: Treasury Bills In Nigeria by Speedyconnect15: 2:35pm On Feb 20, 2019 |
valacious:Blushing .tnx |
Re: Treasury Bills In Nigeria by Speedyconnect15: 2:38pm On Feb 20, 2019 |
needful: 1. Which biz dey canny sir? With that small population? 2. Saskatchewan? I learnt cold there no be small oo. 3. A lot of jobs? Or just for those in STEM or bias with finance.? |
Re: Treasury Bills In Nigeria by lolaluv1(f): 2:39pm On Feb 20, 2019 |
CompareDBest: Thank you for the detailed explanation and God bless!! 1 Like |
Re: Treasury Bills In Nigeria by CompareDBest: 3:24pm On Feb 20, 2019 |
lolaluv1:27 Feb, a week from today. |
Re: Treasury Bills In Nigeria by CompareDBest: 3:31pm On Feb 20, 2019 |
cutedharmee:There is a problem here, 90days from 27th November 2018 gives you 24/25 Feb 2019. But this is NOT possible for TBills as it usually expires Thursdays. Please check your t-bills certificate/investment advice again. Request from your bank if you do not have same. For GTBank, I believe you can check your online account for the details. Hopefully, you have not mistakenly been given Fixed Deposit instead. However, if you are approximating the tenor to 90days, then your correct maturity date might be Thursday, 28th Feb? 1 Like |
Re: Treasury Bills In Nigeria by Akerewe(m): 4:43pm On Feb 20, 2019 |
CompareDBest:dre is nothing like 5% vat on tb investment either prymary or secondary market, also no 25% penal charges whatsoever on earlier liquidation. your analysis above only applicable to fixed deposit investment. dey might av played a fast one on u guys. confirm if truly your investment is a tb nd not fd. what's applicable on tb is safekeep fees which is 0.05% or 0.1% and #300 as processing fees depending on your bank. on the other side, if u r liquidating your tb earlier b4 maturity, u will be charged only #300 and ur rediscounted rate to be minus from ur face value. thanks 2 Likes |
Re: Treasury Bills In Nigeria by HenryWilliams(m): 7:45pm On Feb 20, 2019 |
Evening y'all I just opened a stanbic ibtc account today in anticipation of getting 364 day TBs on Wednesday. Just after opening, I asked the pretty customer care lady if they re-invest the interest.. She said NO. I was a bit shocked because I read it somewhere here that FBN and Stanbic allows such. She however clarified that Secondary Markets interests are re-investible but not Primary Market. Now my dilemma. Should I go on with the transaction on Wednesday knowing they won't reinvest? 1 Like |
Re: Treasury Bills In Nigeria by dejiotus: 8:19pm On Feb 20, 2019 |
HenryWilliams: But you can re invest the upfront interest the following day at the secondary market? The dilemma however is if the upfront interest is lower than the minimum amount allowed in the secondary market |
Re: Treasury Bills In Nigeria by TotoNaRubber: 8:25pm On Feb 20, 2019 |
really, you can invest the interest at the time of initial investment at the secondary market? That means if your initial capital is N1million and the interest is supposed to be N200k, they will deduct N1million and then on their side they will add N200k to the capital of N1million making it N1.2 million investment capital, at the end of the tenure, they pay you N1.2m + interest generated on N200k? HenryWilliams: |
Re: Treasury Bills In Nigeria by TotoNaRubber: 8:30pm On Feb 20, 2019 |
Do you know if any of the banks allow you to eat your cake and have it, this means if you wanted to invest N100k and the interest on the investment is N15k, so you deduct the N15k before hand and then the bank only debited 85k from your account, at the end of the tenure they pay you back N100k. |
Re: Treasury Bills In Nigeria by Ifelove1(m): 8:36pm On Feb 20, 2019 |
TotoNaRubber:UBA does it... But their minimum is 500,000 1 Like |
Re: Treasury Bills In Nigeria by freeman67: 8:59pm On Feb 20, 2019 |
Though you may not agree with points sometimes.. It does not mean there might not be true. I do not know the bank you use for TB but I will like to state that banks domesticate their T&C terms and conditions as much as they are free to sometime so you will not get some things as same across board. The picture I attached is a proof of both primary and secondary market TB of firstbank that has the 5% VAT on commission, custody fee and transaction fees where applicable. I have also read on this thread where someone talked about Union bank having penal charges on liquidation of TB. Personally, I have only liquidated once and on that liquidation, I lost a little from my capital. So I know it could could go either ways depending on circumstances surrounding it. That's why for I will always ask the enquirer to contact the institution he or she used. 2 Likes 1 Share
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Re: Treasury Bills In Nigeria by OgogoroFreak(m): 9:06pm On Feb 20, 2019 |
TotoNaRubber:it's same thing na. If you don't withdraw the 15k it would still be left in ur acct after the bank debit the 85k. 1 Like |
Re: Treasury Bills In Nigeria by TotoNaRubber: 9:16pm On Feb 20, 2019 |
It's not the same actually, say if you have earlier used the 15k solve a problem but had given the bank instruction, i heard some of them will go ahead and debit the amount after you already taken out the interest, just need to confirm which banks. OgogoroFreak: ok i see. Ifelove1: |
Re: Treasury Bills In Nigeria by OgogoroFreak(m): 9:38pm On Feb 20, 2019 |
SifonAbasi:Read from page one to get all the answers. |
Re: Treasury Bills In Nigeria by PraiseDLord: 9:39pm On Feb 20, 2019 |
CompareDBest post.8=75878097: 2 Likes |
Re: Treasury Bills In Nigeria by CompareDBest: 11:59pm On Feb 20, 2019 |
Akerewe:Please see Oga Freeman67’s contribution above. In addition to FirstBank, > Union bank explicitly tells you it charges 5% VAT on some/all tbills fees/charges, and > you can see this 5% VAT on Stanbics charges too in either secondary or primary market (not both); forget which market just now > other banks probably charge this too; not all and not necessarily in both markets The difference from Fixed Deposit VAT > it is 5%. FD is 10% > it is on fees/charges. FD is on your interest > it is NOT uniform across banks, Nor tbills markets (can be on only Primary or only Secondary fees). FD is uniform across all banks and applies to all interest accrued Regarding the 25% penal charge, I can see why you think we were agreeing it applied. We could have put it better. We believe FirstBank does NOT charge this. We were trying to convey the confusion probably comes from the 20% accrued interest forfeited if you terminate a FirstBank Fixed Deposit early. That does not mean no bank charges this, but we don’t believe FirstBank does. 1 Like |
Re: Treasury Bills In Nigeria by dipoolowoo: 2:30am On Feb 21, 2019 |
6-Month T-Bills Yields Gain 1.23% Amid Further Absence of OMO Sale https://businesspost.ng/2019/02/21/6-month-t-bills-yields-gain-1-23-amid-further-absence-of-omo-sale/ |
Re: Treasury Bills In Nigeria by davit: 12:42pm On Feb 21, 2019 |
Secondary market rate today at Stanbic. 4 Likes 1 Share
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