Please guys help me out in this little dilemma that am having right now. I have 3 million naira in my savings account that is idle for now but I want to invest it by putting it into fixed deposit till my business picks up after d raining season. I met my banker in one of the commercial banks that am using and I told the person that I want to fix the money for a period of 3 months so that by November I will pull d money and continue my business, he told me that the interest is 7% of my 3 million. However I am thinking that 7% is too small or is it a good business idea. Please if you know any commercial bank that can give me a higher percent interest rate then share with me, I would be very glad to know. Any other better suggestions for other banks are welcomed.. The bank I went to is first bank.

Thanks

Negro1986:
Please guys help me out in this little dilemma that am having right now. I have 3 million naira in my savings account that is idle for now but I want to invest it by putting it into fixed deposit till my business picks up after d raining season. I met my banker in one of the commercial banks that am using and I told the person that I want to fix the money for a period of 3 months so that by November I will pull d money and continue my business, he told me that the interest is 7% of my 3 million. However I am thinking that 7% is too small or is it a good business idea. Please if you know any commercial bank that can give me a higher percent interest rate then share with me, I would be very glad to know. Any other better suggestions for other banks are welcomed.. The bank I went to is first bank.

Thanks

We will give you 9% for three months, net( no withholding tax)

ernie4life:


We will give you 9% for three months, net( no withholding tax)

Which company/ bank, and what and what is involved, please specify

Negro1986:
Which company/ bank, and what and what is involved, please specify

investment one financial services,(formerly GTB asset management) all you need is to open an account with us and transfer the money to our GTBank account.
you can check www.investment-one.com

^^^^^^Hmmmmmmmm

I believe Stanbic IBTC would offer offer 10% for it if you have an account there or...

Negro1986:
Please guys help me out in this little dilemma that am having right now. I have 3 million naira in my savings account that is idle for now but I want to invest it by putting it into fixed deposit till my business picks up after d raining season. I met my banker in one of the commercial banks that am using and I told the person that I want to fix the money for a period of 3 months so that by November I will pull d money and continue my business, he told me that the interest is 7% of my 3 million. However I am thinking that 7% is too small or is it a good business idea. Please if you know any commercial bank that can give me a higher percent interest rate then share with me, I would be very glad to know. Any other better suggestions for other banks are welcomed.. The bank I went to is first bank.

Thanks

Is the 7% for 3months?

Why not go and buy Treasury Bills. You can get as much as 10% pa there....

@op
please accept feelamong opinion.

Thank guys for your replies

ernie4life:


investment one financial services,(formerly GTB asset management) all you need is to open an account with us and transfer the money to our GTBank account.
you can check www.investment-one.com

I will like to put some funds in fix deposit too. Can I get a break down of the interest rate viz a viz the amount of cash fixed?

olumyde5:


I will like to put some funds in fix deposit too. Can I get a break down of the interest rate viz a viz the amount of cash fixed?

Send me a pm let's talk

Hello have you taught abt treasury bills.

olumyde5:


I will like to put some funds in fix deposit too. Can I get a break down of the interest rate viz a viz the amount of cash fixed?

be careful not to end up loosing the N3m....
don't go for the highest, go for what is credible.

ernie4life:

We will give you 9% for three months, net( no withholding tax)

You mean 9% per annum or quarterly? Please explain...

lionshare:


You mean 9% per annum or quarterly? Please explain...

Per annum of course