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Nairaland Forum / Nairaland / General / Investment / Fixing 30million Naira On Fixed Deposit In A Nigeria Bank In A Period Of 2years (3858 Views)
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Fixing 30million Naira On Fixed Deposit In A Nigeria Bank In A Period Of 2years by class0247: 8:43am On Aug 14, 2015 |
A friend of mine who is not base in Nigeria is thinking of fixing 30 million naira on fixed deposit in a period of 2 years and wish to know how much he is going to make as profit in that period Please can anybody help explain how it works..thanks |
Re: Fixing 30million Naira On Fixed Deposit In A Nigeria Bank In A Period Of 2years by mjames: 8:52am On Aug 14, 2015 |
I want to know too |
Re: Fixing 30million Naira On Fixed Deposit In A Nigeria Bank In A Period Of 2years by eightsin(m): 9:07am On Aug 14, 2015 |
Likewise me |
Re: Fixing 30million Naira On Fixed Deposit In A Nigeria Bank In A Period Of 2years by brodalikeme(m): 9:09am On Aug 14, 2015 |
I doubt if it will be much. My younger brother wanted to fix his tuition fee and allowance of about N4.5m some times back and the offer he got was like N41k/month. But we have always been fortunate with stocks, maybe you should speak with a reputable broker. |
Re: Fixing 30million Naira On Fixed Deposit In A Nigeria Bank In A Period Of 2years by oshofree400(m): 9:12am On Aug 14, 2015 |
Well, it is a good idea fixing your money in a bank though i do not know how much you are likely to get as profit during that period of time. But have you ever thought of making your money work for you, like being a part of the board of trustees of a company or a share holder..... Making your money work for you would be a good idea, and gives you a futuristic assurance. All well said, i am an entrepreneur and business analyst/developer, i have a business plan that will yield multi-million turn over within just 2 years(YES!, Just 2 years). We can talk business if interested or want to know more. +2348131919048 Oyebode Emmanuel |
Re: Fixing 30million Naira On Fixed Deposit In A Nigeria Bank In A Period Of 2years by Crieff(m): 10:58am On Aug 14, 2015 |
brodalikeme: If he got N41k every month for approx N5m Thrn N30m will be approx. 246k * 24 5904000 That's a modest sum to me, I guess. |
Re: Fixing 30million Naira On Fixed Deposit In A Nigeria Bank In A Period Of 2years by brodalikeme(m): 11:49am On Aug 14, 2015 |
Crieff: Yes it is modest and even attractive considering the fact that you are doing it long term (2years) but when you are looking at a few months, you may not be satisfied. His investment in stock paid him bigger than that. BUT IN THAT INSTANT YOU NEED THE BEST ADVICE AND MANAGERS |
Re: Fixing 30million Naira On Fixed Deposit In A Nigeria Bank In A Period Of 2years by kennedy67(m): 5:51pm On Aug 19, 2015 |
Cool |
Re: Fixing 30million Naira On Fixed Deposit In A Nigeria Bank In A Period Of 2years by toskine: 8:08pm On Aug 19, 2015 |
First bank plc will pay you an interest of #2,700,000 per year on your #30million but will collect vat of 10% of interest so you money will yield #2,430,000/yr after deduction of vat. For 2yrs your interest will be #4,860,000 provided you are not adding the interest for the first yr and rolling both back. |
Re: Fixing 30million Naira On Fixed Deposit In A Nigeria Bank In A Period Of 2years by SHOT(m): 5:50pm On Aug 22, 2015 |
class0247: i can guarantee a 2.5% monthly payment on that amount... thats 250k monthly on 10 million |
Re: Fixing 30million Naira On Fixed Deposit In A Nigeria Bank In A Period Of 2years by SHOT(m): 5:55pm On Aug 22, 2015 |
mjames: i can guarantee a 2.5% monthly payment on any amount from 500k to 10m. thats 12,500 monthly on 500k 250k monthly on 10 million |
Re: Fixing 30million Naira On Fixed Deposit In A Nigeria Bank In A Period Of 2years by ol2012: 8:14pm On Aug 22, 2015 |
Hello Class, kindly inform ur friend he'll earn NGN5,400,000 on amount in 2yrs if he/she fixes with us in Diamondbank. However the interest is subject to 10% withholding tax. I'll send you a pm for further communication class0247: |
Re: Fixing 30million Naira On Fixed Deposit In A Nigeria Bank In A Period Of 2years by ceeteed(m): 10:46pm On Aug 22, 2015 |
Hello class. That amount can do better return in well managed investment vehicle other than bank deposit. If interested to know more let me know. |
Re: Fixing 30million Naira On Fixed Deposit In A Nigeria Bank In A Period Of 2years by class0247: 8:00pm On Aug 24, 2015 |
toskine: I think 4,860,000 is a fair deal for 2yrs since he don't stay in Nigeria and don't have any intentions to go into other investment..Thank you very much |
Re: Fixing 30million Naira On Fixed Deposit In A Nigeria Bank In A Period Of 2years by grownaira: 11:09pm On Aug 24, 2015 |
class0247: https://www.nairaland.com/2549485/earn-10-investment-monthly-10 |
Re: Fixing 30million Naira On Fixed Deposit In A Nigeria Bank In A Period Of 2years by Enddystar(m): 6:21am On Aug 25, 2015 |
class0247: Class0247, tell him he can get up to NGN5,450,000 from First Bank and he is sure he will come back and meet his money in tact. PM for details or tell him to call me for details 09095804818 |
Re: Fixing 30million Naira On Fixed Deposit In A Nigeria Bank In A Period Of 2years by mikool007(m): 6:24am On Aug 25, 2015 |
Enddystar:js five million after keeping 30 million for 2 years |
Re: Fixing 30million Naira On Fixed Deposit In A Nigeria Bank In A Period Of 2years by Enddystar(m): 8:26pm On Aug 30, 2015 |
mikool007: How much are you expecting sir? |
Re: Fixing 30million Naira On Fixed Deposit In A Nigeria Bank In A Period Of 2years by SHOPPERS(m): 9:02am On Aug 31, 2015 |
You can find out that guy in the bible who doubled his oga's money by the time the oga came back. 30million should have yielded 30million in two years. If you can't give him something like that or close to that, forget it. What of inflation within those two years? Naira is even falling. Put it away with reputable stockbrokers. Or bring it to me. I will use it in agriculture and give you seventy million at the end of the second year. Period. |
Re: Fixing 30million Naira On Fixed Deposit In A Nigeria Bank In A Period Of 2years by carpenter(m): 1:21pm On Aug 31, 2015 |
class0247: Unless a bank is ready to offer you double figures (10% and above for that amount of money), don't fix it. Invest in a Mutual Fund (specifically Money Market Fund) at a conservative rate of 12% (usually around 13-14% of late) per annum without interest compounded you would be getting ~7.2m and tax free too. However, if you invest in one that pays out quarterly, you can make as much 8m interest compounded. You can visit this page for further reading https://www.nairaland.com/1912965/mutual-funds. Try to get him to read from page 1-13...it will be worth it. There are other investment vehicles of course like shares, real estate but the above is what compares with your fixed deposit option. 2 Likes |
Re: Fixing 30million Naira On Fixed Deposit In A Nigeria Bank In A Period Of 2years by ernie4life(m): 2:42pm On Aug 31, 2015 |
class0247: anything thing below 15%per annum (4.5m X 2= 9m) should not be accepted, that amount for that tenure gives you a bargaining power, he could even get 18% if he looks well. 1 Like 1 Share |
Re: Fixing 30million Naira On Fixed Deposit In A Nigeria Bank In A Period Of 2years by mekaboy(m): 5:18pm On Aug 31, 2015 |
Why not invest in treasury bills. Its better than fixed deposit. You get ur interest upfront and use it for other stuff. |
Re: Fixing 30million Naira On Fixed Deposit In A Nigeria Bank In A Period Of 2years by cunny88(m): 8:43am On Sep 01, 2015 |
Yep he could get as much as 6m over dat period with t bills mekaboy: |
Re: Fixing 30million Naira On Fixed Deposit In A Nigeria Bank In A Period Of 2years by Nobody: 8:58am On Sep 01, 2015 |
Invest in stock market and make good profits. Better than any fixed deposit. |
Re: Fixing 30million Naira On Fixed Deposit In A Nigeria Bank In A Period Of 2years by Enddystar(m): 5:12am On Sep 29, 2015 |
ernie4life: Maybe he can as well go to CBN.. lol |
Re: Fixing 30million Naira On Fixed Deposit In A Nigeria Bank In A Period Of 2years by Lovelygbems: 11:16am On Jun 11, 2021 |
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