Zeiya:
please when is the next auction coming up?

Marpol:
Got N37k for 91 days. First Bank 10%.

Marpol:
What bank is best for TB. First Bank gave me 10% from their secondary market and they are still debiting me for all manner of charges.

Royal155:
How much did you invest?

Royal155:

I got the same rate from them. Please were you issued a certificate?

Marpol:


nope.

Marpol:


none was given to me.

Royal155:
Did you not ask for certificate? what if anything goes wrong, would it not be the only evidence to prove that you invested such money in the bank? I wasn't given any but i approached them for it and they said i should come by next week.

lancee:


I think if u multiply that amt by 3 , then multiply by 10 u shld get the approx Answer
I Hope am correct

Desanta:





You should actually multiply by 4, then you multiply whatever you get by 10. So you tried..

Marpol:


You are the mathematician.

Desanta:





You should actually multiply by 4, then you multiply whatever you get by 10. So you tried..

Marpol:


Then I will go see them tomorrow.

slimtriggaman:
Hello house, has anyone used Zenith bank to invest in treasury bills and how long did it take for them to credit the discounted (interest) amount to your account?, cuz I did and up till now nothing

Marpol:
What bank is best for TB. First Bank gave me 10% from their secondary market and they are still debiting me for all manner of charges.

Zeiya:

Hope the charges were not outrageous because I want to use first bank for my next investment?

Marpol:


Not really outrageous. The problem is the stop rate was 10.5 for 91 days, they gave 10 which means 0.5 was pocketed by them.

Then they will charge you Treasury bill custodian fee and another fee like that.

I just felt the 0.5 they hacked off shd satisfy them and they shdnt dip into my small profit.

princeuk21:

My Advice.
1) the bank may not accept such amount.

2) eg. 25k×10÷100÷4= 625. (why tie such capital in this investment) ?

3) you can use the 25k to start a business that will create 1k each day as profit just do your market research very well.

4) so painful to say this but NTB is not for small capital most investors here do millions to earn thousands with 91 days tenor talk less of thousand like 25 or 30k to make how much N500 or N700 for 3 months? so my advice is save up some cash maybe 300k and you will enjoy your profit but you can start a business first.

5) you can always read from the first page to know more about this investment vehicle don't just trow your hard earn money in this investment with little or no knowledge about it believing someone may help u when things go wrong (only you can help yourself. people are always ready to play tricks on you if they know you know nothing about where you are heading to).

I HOPE YOU FIND THIS ADVICE USEFUL.


Am always here to assist and help you guys on the subject.
Princeuk21

Zeiya:

Hope the charges were not outrageous because I want to use first bank for my next investment?

Zeiya:
pls I went first bank and GT bank to enquire about T bills, the officer said that they bid on behalf of their customers, how then will I be sure to get a good rate as they may give me a lower rate?

Royal155:

That's how first bank did for me.

Damolux01:
Same here, got 13.85 for 360 days instead of 14.15.

Marpol:
Does anyone know any bank that will allow you make your own bid?

Royal155:

Were you issued any certificate? cos nobody gave me anything ooo!

Marpol:


Not really outrageous. The problem is the stop rate was 10.5 for 91 days, they gave 10 which means 0.5 was pocketed by them.

Then they will charge you Treasury bill custodian fee and another fee like that.

I just felt the 0.5 they hacked off shd satisfy them and they shdnt dip into my small profit.

Damolux01:
Same here, got 13.85 for 360 days instead of 14.15.

berexio1:
Were u expecting the Bank to bid same stop rate as CBN? Allowing the Bank bid for u means that you will go with the rate they eventually get(which usually is not bounced back i.e less than CBN rate) bt if u choose to bid for ursef and u are lucky, u can bid that rate of 14.15 or slightly less

justhelpme:
I don't know why Zenith Bank gave me 12.9% for 364 days. At least they should have made it up to 13.8%. I can't advise anybody to put his/her money in Zenith Bank for treasure bill. It is a big time rip off.