awesomeJ:


Boss, it's really been a whiiiile!

1. Yes.
2. I'd say StanbicIBTC
3. 21.24% discount rate from the last auction
4. 0% tax, fees should be c. 0.5% of returns(my estimate)

Thanks bro, some one said they have introduced 10% witholdibg tax pls how true is this

aremso:



Thanks bro, some one said they have introduced 10% witholdibg tax pls how true is this

False as far as I know.

If anything, I'm hearing that more items are being exempted from WHT.

awesomeJ:

False as far as I know.

If anything, I'm hearing that more items are being exempted from WHT.

Thanks bro and God bless you

Risingcash94:
THANK YOU.🙏 THEY'RE RIGHT I GUESS.

MEANWHILE DO YOU UNDERSTAND WHY THE BALANCE IN MY SMS ALERT WILL BE DIFFERENT FROM THAT IN MY INTERNET BANKING APP TO THE TUNE OF 4 TO 5K DIFFERENCE SOMETIMES? THIS IS ESPECIALLY SO WITH UNION AND GTB.
IT'S CONFUSING. AFTER CALCULATING I'LL NOTICE THAT ONE IS MORE ACCURATE. WHAT KIND OF THE MORE YOU LOOK THE LESS YOU SEE IS THAT. PLS ANY EXPERIENCE AND OR EXPLANATION FOR THIS? I NO WANT TO THEY MEET THIS BANK PEOPLE BEFORE I CONFIRM FROM OTHERS SO I CAN KNOW IF IT'S WORTH ENGAGING THEM OR NOT.

Nothing to worry about, what u av in ur SMS alerts is ur real account balance. Ignore ur internet banking it's just ur ledger balance

awesomeJ:


Boss, it's really been a whiiiile!

1. Yes.
2. I'd say StanbicIBTC
3. 21.24% discount rate from the last auction
4. 0% tax, fees should be c. 0.5% of returns(my estimate)

good day
Please is this interest rate applicable to all branches of stanbicIBTC?

stluke:
good day
Please is this interest rate applicable to all branches of stanbicIBTC?

The rate is not an offer from StanbicIBTC, it's the stop rate at the last CBN auction.

Hi Investors,

Please confirm the next Treasury bill auction date

24 July, 2024

adetunrayo:
Hi Investors,

Please confirm the next Treasury bill auction date

Abeg make una help me. Is it that stanbic dont do secondary market for tbills or i met people who dont know what they are doing. I was told 365 days at 21.26% is only available for 50m. Meanwhile, what i want is 365days for just 1m

ositadima1:


Now, pay attention to my mini masterclass in personal finance.

You invested 100,000 in Treasury Bills at a 16% discount rate. They pay 16,000 upfront (that is, at the start of the tenure, they return 16,000 to you). Effectively, they collected 84,000 from you, and at the end of the tenure, they pay you 100,000 (they call this the face value).

Now, pay attention very carefully, I am about to say something very important.

Yield is the extra money you get divided by initial investment. You invested 84,000 for the tenure and got an extra 16,000. The yield should be 19%, while the discount rate is 16%.

There will be a final exam on Monday.

Thank you a lot. I just logged in with this moniker. So using this analogy, what if I decide to reinvest the interest (I always tell them this)

Does that mean Discount rate will not apply? (since it applies when interest is taken upfront).

So how is the yield calculate in this regard? Cause if I say reinvest, that means 116,000 will be invested for the tenure right? Kindly give more light to this chief, thank you.

Cc: Odunharry Persiade If you have any info on this too

Blacklistwalker:
Abeg make una help me. Is it that stanbic dont do secondary market for tbills or i met people who dont know what they are doing. I was told 365 days at 21.26% is only available for 50m. Meanwhile, what i want is 365days for just 1m

I believe the latter is the case (You met an officer who didn't know much about it).
I still bought a 21.7% (223 days) T.bills at the secondary market through Stanbic just last week.

lajid:


Thank you a lot. I just logged in with this moniker. So using this analogy, what if I decide to reinvest the interest (I always tell them this)

Does that mean Discount rate will not apply? (since it applies when interest is taken upfront).

So how is the yield calculate in this regard? Cause if I say reinvest, that means 116,000 will be invested for the tenure right? Kindly give more light to this chief, thank you.

Cc: Odunharry Persiade If you have any info on this too

The discount rate is the percentage difference between the purchase price of a T-Bill and its face value. In Nigerian T-Bills, the face value is initially deducted from your account. On the day of the bid, if successful, they return the face value minus the purchase price (this is what they call interest, although technically it isn't). At the end of the tenure, they return your face value. It's that face value minus the purchase price that they invest and refer to as investing your interest.

Let me break it down:
- Face Value: 100,000
- Purchase Price: 84,000
On the bid day, you get your 16,000 back (which you can now invest along with the 84,000).

Some useful formulas:
1. Yield (also called effective yield or true yield) is:
Yield = (Face Value / Purchase Price) ^ (365 / Days to Maturity) - 1

2. An approximation of the yield:
Yield ≈ Discount Rate / (1 - Discount Rate)

3. Working backwards to find the Discount Rate:
Discount Rate = (Face Value - Purchase Price) / Face Value

Note: This information is based on my personal research and may not be entirely accurate.

Foodempire:


I wonder how this compound interest can become a reality? for instance if you invest in mmf your accrued interest will not be reinvested until after three months and you won't get any interest on your accrued amount until it's reinvested, that I've confirmed with fbnquest only.

If you choose to invest in Tbs or bonds, you can't re-invest your yields automatically, you will have to do it manually therefore accurate compound interest won't work out this way. Remember in compound interest you will have to re-invest all your accrued interest even to the last kobo to get the right figure, I stand to be corrected.

First ally,often reinvest mine every month.

ositadima1:


The discount rate is the percentage difference between the purchase price of a T-Bill and its face value. In Nigerian T-Bills, the face value is initially deducted from your account. On the day of the bid, if successful, they return the face value minus the purchase price (this is what they call interest, although technically it isn't). At the end of the tenure, they return your face value. It's that face value minus the purchase price that they invest and refer to as investing your interest.

Let me break it down:
- Face Value: 100,000
- Purchase Price: 84,000
On the bid day, you get your 16,000 back (which you can now invest along with the 84,000).

Some useful formulas:
1. Yield (also called effective yield or true yield) is:
Yield = (Face Value / Purchase Price) ^ (365 / Days to Maturity) - 1

2. An approximation of the yield:
Yield ≈ Discount Rate / (1 - Discount Rate)

3. Working backwards to find the Discount Rate:
Discount Rate = (Face Value - Purchase Price) / Face Value

Note: This information is based on my personal research and may not be entirely accurate.

You can also get the yield by dividing interest by Disc value and multiply by days in a year divided by your Tenure

lajid:


Thank you a lot. I just logged in with this moniker. So using this analogy, what if I decide to reinvest the interest (I always tell them this)

Does that mean Discount rate will not apply? (since it applies when interest is taken upfront).

So how is the yield calculate in this regard? Cause if I say reinvest, that means 116,000 will be invested for the tenure right? Kindly give more light to this chief, thank you.

Cc: Odunharry Persiade If you have any info on this too

The explanation given by other posters is correct . If you decide to take your interest upfront, you be paid the interest, then the 100, 000 which is your face value at maturity.

You can then advise the bank/House to re-invest your interest instead of taking it. For many that I have seen, it's always been on yield.

AwesomeJ and other posters can shed more light on the rate that will apply when one wants to invest upfront interest.

Odunharry:

The explanation given by other posters is correct . If you decide to take your interest upfront, you be paid the interest, then the 100, 000 which is your face value at maturity.

You can then advise the bank/House to re-invest your interest instead of taking it. For many that I have seen, it's always been on yield.

AwesomeJ and other posters can shed more light on the rate that will apply when one wants to invest upfront interest.

Like you said, all the explanations are correct.
If you invest 1m at 21% discount.

1. Taking interest upfront, you get 210k now and 1m at maturity.
2. Reinvesting interest, you get nothing now, but N1,265,000 on maturity.

Good day investors.. watsup with fidelity shares.. Do you trust Nigerian banks enough..

Good day all,

Those with Stanbic, when is Treasury bill subscription holding? And have someone ever did FGN BOND subscription with them recently? Was it successful?

Do we have anyone here that bought MTN CP series 9, the maturity date is on the 31st July 2024. I was contacted by email to provide my TIN and tax payer ID's for the WT to be deducted , this I never expected or informed earlier.

I wanted to ignore the request because I don't have the TIN and Tax ID but I know I won't be getting my money back on the maturity day if I do.

What is the likely % for the WT? How can I generate the info: TIN tax ID's? Thanks

MPR 26.75%

DAramis:
Good day all,

Those with Stanbic, when is Treasury bill subscription holding? And have someone ever did FGN BOND subscription with them recently? Was it successful?

Primary market auction will take place tomorrow. Submit your bid on time

DAramis:
Good day all,

Those with Stanbic, when is Treasury bill subscription holding? And have someone ever did FGN BOND subscription with them recently? Was it successful?

About 3month ago I subscribed to FGN saving bonds @19% 2yrs. Always successful. In fact I have received the first profit this month.

Visit the Joint Tax Board via https: // tin. jtb. gov. ng/ TinIndividualRequestExternal (remove the spaces)
I got my TIN within 2weeks...

WHT is 10% of interest

Foodempire:
Do we have anyone here that bought MTN CP series 9, the maturity date is on the 31st July 2024. I was contacted by email to provide my TIN and tax payer ID's for the WT to be deducted , this I never expected or informed earlier.

I wanted to ignore the request because I don't have the TIN and Tax ID but I know I won't be getting my money back on the maturity day if I do.

What is the likely % for the WT? How can I generate the info: TIN tax ID's? Thanks

Odunharry:

Primary market auction will take place tomorrow. Submit your bid on time

Baba am new to this tb stuff if I have say one million to invest for one year on secondary market( since am new let me start from here) how do I go about it please.

…

Yungmil:


Baba am new to this tb stuff if I have say one million to invest for one year on secondary market( since am new let me start from here) how do I go about it please.

Do yourself a favour and read previous posts. Everything you need has been detailed there.

Foodempire:
Do we have anyone here that bought MTN CP series 9, the maturity date is on the 31st July 2024. I was contacted by email to provide my TIN and tax payer ID's for the WT to be deducted , this I never expected or informed earlier.

I wanted to ignore the request because I don't have the TIN and Tax ID but I know I won't be getting my money back on the maturity day if I do.

What is the likely % for the WT? How can I generate the info: TIN tax ID's? Thanks

That is my problem with all these issuing houses of CP's. Most times they don't state these things on the contract/agreement/prove of investment. Why will you just put applicable taxes are shall apply instead of clearly stating that the subscriber is to pay a withholding tax of a particular amount. That seems to be manipulative in a way. It shows they are hiding information.

The WHT is 10% of your interest. Just divide what ever you see as interest on your allocation notice by 10. That's the amount that will be removed when you will get back your capital if you did not reinvest with interest. Also, note that it seems to be majorly for formalities as they will not give you any proof that the tax was actually paid in your name or on your behalf to your tax authority but it will surely be deducted.


They did same thing to me in when I invested in the series 7. I already have my TIN even before then. So, I just submitted it.

For you now, just checked the JTB site posted above by karltom. You should be able to get the TIN from there. It's TIN or Tax ID.

That said, whether you present the TIN or not, your money will paid back to less 10% of the interest so no shiver saying you no go get interest.

Odunharry:
MPR 26.75%

Pls is this as at today?

vanvickie:


Pls is this as at today?

Yesterday's meeting

Yungmil:


Baba am new to this tb stuff if I have say one million to invest for one year on secondary market( since am new let me start from here) how do I go about it please.

Note that the secondary market Tenure is shorter and not up to 364days. You can get Tenure that's close though

freeman67:


That said, whether you present the TIN or not, your money will paid back to less 10% of the interest so no shiver saying you no go get interest.

My thinking too, cos I've been paying WHT on fixed deposits before I got a TIN.
I think WHT remittance can be made to the FIRS with or without the payer's TIN. So that should not be used as an excuse to withhold people's funds.


Makes me even think: I don't even remember submitting TIN to my current employer, yet they've been removing PAYE on a steady.