Hello all...pls I did TB investments in April(200k) and May (500k) at 9% and 13.5% respectively for a 365 days tenor. Now there's this Mazda bus I plan to get for #700k. And d only fund I have is d TB investment I did. I really want to terminate it...does it really worth it? Can I terminate it? Cus someone here ones said it's now impossible to do so...if I get to terminate it. What are the effects considering the hike in rate...what will be my loss? I've tried getting soft loan from peeps to no avail. Thanks!

ernieboy:
guys thanks for all the info. please I have a few question:
1. to place a bid for purchase of tb does one need to go physically to the bank or it can be done online.
2.what's the min that Stanbic accepts for trading?

Response...

1. No you must not be there physically but you will have to contact your account officer to send you the form to fill.. After Filling and signing then you send it back to him/her and ensure it is delivered and delivery acknowledged.

2. On Stanbic IBTC Tender Form the minimum amount written there is N100,000 and addition should be in multiple of N10,000.

Hope this helps.

freeman67:


Response...

1. No you must not be there physically but you will have to contact your account officer to send you the form to fill.. After Filling and signing then you send it back to him/her and ensure it is delivered and delivery acknowledged.

2. On Stanbic IBTC Tender Form the minimum amount written there is N100,000 and addition should be in multiple of N10,000.

Hope this helps.

yea it helps. Thanks.

freeman67:


Response...

1. No you must not be there physically but you will have to contact your account officer to send you the form to fill.. After Filling and signing then you send it back to him/her and ensure it is delivered and delivery acknowledged.

2. On Stanbic IBTC Tender Form the minimum amount written there is N100,000 and addition should be in multiple of N10,000.

Hope this helps.

What rate do you advise I bid for? (364 days)

Missiniubs:
Please I need suggestions on the rate to bid with for 364 days

No one is answering that question. I have asked.. and deadline is soon.

Well done guys,u ar all doin a gud job here. Pls I nid to kno au to always kno d auction date. And is d auction date d same for all banks? And lastly au can I always kno d interest rate for NTB. Thanks a lot cos over a year nw,banks av always bn advisin me to do fix deposit,not kno dat dey av bn usin my money for tb to av maximum gain for demselves.pls ur i'll appreciate ur anwers

I will personally be going for 18%.

Annalise:


No one is answering that question. I have asked.. and deadline is soon.

Just stay around the last Stop rates...

Nothing has changed much in terms of liquidity..

feelamong:
Just stay around the last Stop rates...
Nothing has changed much in terms of liquidity..

Wellcome back sir, i enter the time you are going out .

Damolux01:
Hello all...pls I did TB investments in April(200k) and May (500k) at 9% and 13.5% respectively for a 365 days tenor. Now there's this Mazda bus I plan to get for #700k. And d only fund I have is d TB investment I did. I really want to terminate it...does it really worth it? Can I terminate it? Cus someone here ones said it's now impossible to do so...if I get to terminate it. What are the effects considering the hike in rate...what will be my loss? I've tried getting soft loan from peeps to no avail. Thanks!

It's not impossible, you can terminate your investment at any time. I am actually thinking of part-liquidating mine this month too and I have done it before.

However, you must recall that you have taken your interest upfront and be prepared to lose part of the amount that you would have received at maturity.

It's a personal decision that you have to make since you are not making headway with "soft loans". You have to weight the benefit/cost of your proposed purchase versus waiting till maturity.

ummitoagirl:
I will personally be going for 18%.

Thank you. I think I'll do same.

I will be doing this for the first time. Thanks for all your comments and advice. I will be going for 18% too. Yes. To follow you great people. I have got no damm clue about this TB thing anyway.

NOTICE NOTICE NOTICE !!!

This is to inform you that anyone who wishes to sell their TB Investment before maturity can contact me for negotiations. Even if I don't Bank with your Bank, I can open a bank account with them and we do the paperwork.

As I am the buyer be sure to offer me attractive rates as this is a secondary market buy.

Annalise:

No one is answering that question. I have asked.. and deadline is soon.

Someone have answered....

feelamong:
Just stay around the last Stop rates... Nothing has changed much in terms of liquidity..

Annalise:

No one is answering that question. I have asked.. and deadline is soon.

Someone have answered....

40manlappy:


It's not impossible, you can terminate your investment at any time. I am actually thinking of part-liquidating mine this month too and I have done it before.

However, you must recall that you have taken your interest upfront and be prepared to lose part of the amount that you would have received at maturity.

It's a personal decision that you have to make since you are not making headway with "soft loans". You have to weight the benefit/cost of your proposed purchase versus waiting till maturity.

Depending on the interest rate then.. he may also liquidate at a loss... If he bought it around the period when the rate per annum was 7% and he intends to liquidate now that it is around 18% he will not just loose the interest collected upfront but some part of his capital becos it is dependent on the days remaining and the rate there are willing to buy at the secondary market.

Zenith bank is very funny ooooooo. Imagine the account officer saying that the bidding for tomorrow has already be collocated since Friday! So those that bid today will not be treated. Hmmmm Zenith bank Na oooooooo

Got to the bank earlier enough and bidded x for 364 @17.8%

So I went to First bank today,armed with all the informations I have gathered from this awsome thread.I watched and smiled as the banking officer tried to play smart on TB rates, and then I started talking,when iwas done,the Lady said; "Oga I think you should have been a banker" ..God bless the brilliant minds that started this thread,as I was a rookie in TB when I came in here,nw I am very well informed..Thanks to every1 for keeping this thread alive..JahBless.

freeman67:



Depending on the interest rate then.. he may also liquidate at a loss... If he bought it around the period when the rate per annum was 7% and he intends to liquidate now that it is around 18% he will not just loose the interest collected upfront but some part of his capital becos it is dependent on the days remaining and the rate there are willing to buy at the secondary market.

Thanks bro...Had same thought as well cuz I bought at 9%...There's no doubt I might run at loss. Guess I'll have to leave it there.

Tanx evry1 for d gud info,i got to bank today nd bidded for 18%, d bank manager wanted to advice me to do FD bur I said no no no nd also lectured him,he was nw laughin nd ask me to go nd do it

But y is it dat d bankers would always want to advice u against TB nd want u to do FD instead

Hello T-billanders.


I just got the wind of T-bills and all I can say is info is power. I've taken time to read about T-bills from page one. These are my questions

Does GTB accept 100k for purchase of T-bills? If not, what other banks accept 100k


What is the discount rate of GTB for 91 days maturity.


When is the next auction?


Thanks.

michael03:
But y is it dat d bankers would always want to advice u against TB nd want u to do FD instead

Because, the bank benfits more if you go for FD.

Placed my bid for 182 days at 17%. I hope it goes through.

Baboo13:
Hello T-billanders.


I just got the wind of T-bills and all I can say is info is power. I've taken time to read about T-bills from page one. These are my questions

Does GTB accept 100k for purchase of T-bills? If not, what other banks accept 100k


What is the discount rate of GTB for 91 days maturity.


When is the next auction?


Thanks.

I use ecobank and they accept 100000.

gory24:
So I went to First bank today,armed with all the informations I have gathered from this awsome thread.I watched and smiled as the banking officer tried to play smart on TB rates, and then I started talking,when iwas done,the Lady said; "Oga I think you should have been a banker" ..God bless the brilliant minds that started this thread,as I was a rookie in TB when I came in here,nw I am very well informed..Thanks to every1 for keeping this thread alive..JahBless.

They will always advice you to go for FD. My answer has always been centered on inflation rate. I tell them that if the purchasing power of my money is reducing at 17%, and you want to offer me 4% FD I will still be loosing ( albeit still better than ordinary savings account) and the aim is defeated. This is the layman explanation I give them and they leave me alone .

I plan to bid in two weeks. I was not prepared for the last one.

Annalise:

I use ecobank and they accept 100000.

Alright. What is their rate

michael03:
But y is it dat d bankers would always want to advice u against TB nd want u to do FD instead

on FD, the bank will probably give u no more than 10%, and they will invest it in assets such as T bill at about 20%. When u directly purchase d tbill, u r cutting their margins seriously

Femiobat:
Zenith bank is very funny ooooooo. Imagine the account officer saying that the bidding for tomorrow has already be collocated since Friday! So those that bid today will not be treated. Hmmmm Zenith bank Na oooooooo

that's weird because I was at zenith bank yesterday and the person I met told me , it was still on but they would stop collecting forms when its 11am. Meanwhile first bank didn't even answer me gan, said they stopped collecting forms last week Friday. so I am surprised zenith put you out except you arrived the bank premises very late....waiting patiently for the next auction date

gory24:
So I went to First bank today,armed with all the informations I have gathered from this awsome thread.I watched and smiled as the banking officer tried to play smart on TB rates, and then I started talking,when iwas done,the Lady said; "Oga I think you should have been a banker" ..God bless the brilliant minds that started this thread,as I was a rookie in TB when I came in here,nw I am very well informed..Thanks to every1 for keeping this thread alive..JahBless.

so first bank let you bid yesterday against today? over here at my location, It proved negative. said it ended last week Friday. interesting

T-bills...spoiling business for bank marketers since 1960