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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 Nobody: 1:43pm On Aug 05, 2016 |
First time bank rate with Stanbic..... failed me. Anywais i opted for secondary market 12% better than nothing, better than few weeks ago when we were struggling with 7....8%. |
Re: Treasury Bills In Nigeria by tormjerry: 2:06pm On Aug 05, 2016 |
I'm new to this TBills.ill like to ask some questions Does anyone have an idea about about FBN rate? Also, does GTB accept below #1M for T Bills? About the issuance certificate\letter,will it be issued immediately or I'll have to go back to the bank for it? |
Re: Treasury Bills In Nigeria by MrTour: 2:45pm On Aug 05, 2016 |
That's good. Stanbic is transforming into a rogue bank, my bid didn't go through yet they held my money since Tuesday in their ledger balance. ukay2: |
Re: Treasury Bills In Nigeria by ukay2: 3:00pm On Aug 05, 2016 |
MrTour: Na tru Sir ...4days holding of ones fund without interest no be beans.. Please bid for yourself next time |
Re: Treasury Bills In Nigeria by Jessglam: 5:51pm On Aug 05, 2016 |
Gurus in the house, please advise. I tried to do tbills in gh a a Nigerian but I was told they do not sell to foreigners. I wa advise to do fixed deposit instead at 14.24 for three months. Meanwhile I figured 91day tbills in nig I 15percent plus. Do you advise I transfer the money back to home and get the tbills? Please @feelamong assist me with this. |
Re: Treasury Bills In Nigeria by ukay2: 6:07pm On Aug 05, 2016 |
Jessglam: Please transfer the money to naija and enjoy the high NTB rates currently.....just send the money to your naija bank and instruct your bank on the auctions-91; 182 & 365 days you want with the rate you want with STANBIC IBTC Bank or go with the bank rate with GTB, FBN , eco bank or any other naija banks you have... |
Re: Treasury Bills In Nigeria by MrTour: 7:14pm On Aug 05, 2016 |
Re: Treasury Bills In Nigeria by Biakwa: 9:04pm On Aug 05, 2016 |
Timmi: Skye Bank gave 18.05% for 364daya.... |
Re: Treasury Bills In Nigeria by Biakwa: 9:11pm On Aug 05, 2016 |
elega: Try Skye bank they move with better rate 1 Like |
Re: Treasury Bills In Nigeria by exclusiveoloori: 12:11am On Aug 06, 2016 |
Is there anyone one on this thread who has terminated t-bills before maturity. And if one is to do that, how do you go about it? 1 Like |
Re: Treasury Bills In Nigeria by Omonigeriarere: 2:34am On Aug 06, 2016 |
Biakwa: Really? |
Re: Treasury Bills In Nigeria by 40manlappy: 9:17am On Aug 06, 2016 |
exclusiveoloori: This is as simple as A-B-C Simply write a letter to your bank requesting for a termination/liquidation. |
Re: Treasury Bills In Nigeria by 40manlappy: 9:26am On Aug 06, 2016 |
ukay2: Cool My bid for 182 @17% too was successful. I am so happy that I took the risk of bidding for myself this time with Stanbic. Looping: feelamong, sammily, MrTour 1 Like |
Re: Treasury Bills In Nigeria by walexlo78: 12:47pm On Aug 06, 2016 |
Do you have a bank account? Do you have a valid residence permit? Its not true that foreigners cannot buy TB in Ghana. Jessglam: |
Re: Treasury Bills In Nigeria by Jessglam: 1:46pm On Aug 06, 2016 |
Thanks a lot ukay2: |
Re: Treasury Bills In Nigeria by Jessglam: 1:48pm On Aug 06, 2016 |
I have a work permit and a bank account also. I used stanbic IBTC Bank in ghana. walexlo78: |
Re: Treasury Bills In Nigeria by Ihavespoken: 2:11pm On Aug 06, 2016 |
Its simple but remember he already has interest paid before maturity. If you have done it before, can you explain to him the charges he could face, for example if he invested N100k, how much he is likely to get back after charges. Cheers. 40manlappy: |
Re: Treasury Bills In Nigeria by walexy14(m): 3:12pm On Aug 06, 2016 |
Rosabon Treasury Note ( RTN) is just for you! The RTN is a fixed deposit account that guarantees higher interest rate and a flexible investment plan. not only are you availed with highly competitive rates, you also get the opportunity to negotiate your interest rate on all deposits .www.rosabon-finance.com or my signature for more details |
Re: Treasury Bills In Nigeria by walexlo78: 3:48pm On Aug 06, 2016 |
I have bought several times from ecobank. Its not their business of who you are. Just collect the form, fill and submit. If any issue, escalate to their manager. They want to force you in FD vs 25% rate of TB. Jessglam: |
Re: Treasury Bills In Nigeria by Jessglam: 4:39pm On Aug 06, 2016 |
Are you Ghanaian? Do you bid for yourself? walexlo78: |
Re: Treasury Bills In Nigeria by 40manlappy: 5:10pm On Aug 06, 2016 |
Re: Treasury Bills In Nigeria by 40manlappy: 6:17pm On Aug 06, 2016 |
Ihavespoken: Okay sir @exclusiveoloori: Let us assume that the face value of your investment is N100,000 and your discounted value is N95,000 (the actual amount that you were debited upon a successful bidding at the primary auction, remember, you have earned an upfront interest). The difference between the value of the bill and the amount you pay for it is called the discount rate, and is set as a percentage. In the example above, the discount rate is 5 percent, because N5,000 is 5 percent of N100,000. When you apply for termination/liquidation of a treasury bill technically known as "rediscounting", the bank sells your investment in the secondary market but you will lose a portion of your interest depending on the rediscounting rate at the time of your application and the duration that you have held the investment. If you have held the instrument till maturity, your account would have been credited with N100,000. But now that you are not waiting till maturity date, what you will get is a function of the rediscounting rate that will be applied. Once the bank gets a buyer at the secondary market, you should be notified for your concurrence upon which the deal will be sealed and your account credited subsequently with the proceeds of the treasury bill liquidation. My experience: I did a 91 day TB in mid-June; the bank had bidded for me at 7.350%. When I noticed that rates were going up, I considered liquidating to invest at a better rate. I did that last week just in time for the primary auction of August 3rd. Guess how much I lost when my TB was rediscounted? Just N840.16 plus N300 transaction fee! This is a paltry sum compared to the fact that I quoted my own rate of 17% for the bidding and won. I have to thank the gurus in the house who encouraged me to take this risk, especially feelamong. Hope the above clarifies your enquiry. 7 Likes 1 Share |
Re: Treasury Bills In Nigeria by Nobody: 7:51pm On Aug 06, 2016 |
40manlappy:My brother u no follow see that money doubling explanation wey that my chairman give? D whole tin tire me ooo! lol 2 Likes |
Re: Treasury Bills In Nigeria by walexlo78: 8:13pm On Aug 06, 2016 |
When i responded to your text that i have bought severally through ecobank, you should know am not Ghanaian, I filled the form myself but went with the bank rate. However the form had field for indicating stop rate. Jessglam: 1 Like |
Re: Treasury Bills In Nigeria by Ihavespoken: 9:02am On Aug 07, 2016 |
That's interesting and you were quite lucky. In your case, the bank used the interest accrued from June till July on your investment to raise the bid rate (they bidded for you at 7.3% but with your interest it could have been raised to 9.5% to attract a new buyer). In essence you sacrificed your interest for two months and N840 to get the new 17%. Anyone willing to terminate theirs and have held the investment for a short period say a week or two will potentially lose part of the capital 40manlappy: 1 Like |
Re: Treasury Bills In Nigeria by GANDALF1(m): 6:43pm On Aug 07, 2016 |
Ihavespoken: Nobody has ever taken time to advise or trash out this premature liquidation of NTB and its related charges. Does it mean that nobody in Nigeria has ever done it? |
Re: Treasury Bills In Nigeria by GANDALF1(m): 6:55pm On Aug 07, 2016 |
40manlappy: Thanks bro for the clarification. How much was the original bid and which bank did you transact with? |
Re: Treasury Bills In Nigeria by MrTour: 7:07pm On Aug 07, 2016 |
Looking forward to next bid. |
Re: Treasury Bills In Nigeria by tormjerry: 8:34pm On Aug 07, 2016 |
tormjerry:Please,can someone help address this post Cc: feelamong |
Re: Treasury Bills In Nigeria by olujaidi: 10:53pm On Aug 07, 2016 |
tormjerry: Read the first 10 pages of the thread. Or even the last few pages. The questions you asked have been dealt with several times |
Re: Treasury Bills In Nigeria by dandollar1: 12:22am On Aug 08, 2016 |
Please, what were the last stop rates for the different tenors? |
Re: Treasury Bills In Nigeria by Chukzyfcb(m): 3:31am On Aug 08, 2016 |
I have a question to ask, feelamong your input will be highly appreciated. my questions goes thus Say for example I want to invest 10,000naira and the discounted rate is 10%. I know fully well that the bank will debit 9000 and leave 1000 as the upfront interest right? Well, what if I had ONLY 9000 in my account but in my t.bills form I wrote a bid of 10,000naira knowing fully well it's just 9000 that will actuallu be debited, do you think the bid will be successful. Because I am thinking of playing a fast move that may pay off nicely. Incase you still don't get my questions: lemme make a story Say Mr chuks walks to the bank to invest in t.bills and on his form he wrote that he will like to invest with the sum of 110,000 naira at a discount rate of 10%. He knows if his bid is successful the government will just debit 100,000 and pay him 10,000 upfront interest. But the thing is mr chuks has just the exact 100,000naira that will be deducted, nothing more nothing less. So Will his bid be successful, yes or no? Advice is needed. |
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