If you follow this forum always, you will see that people post stop rates at the end of a bidding day. Those stop rates for the different terms (91 days, 180 days and 364 days) will be a guide for you in choosing your own rate for the next bidding day

iamoasa:
Please if I want to choose my rate by using the previous rate, do I go by the marginal rate or the true yield rate posted on the CBN website? CBN website posts marginal rates and true yield rate for each term

MrTour:
Mine is even worse off compared to yours, one of their incompetent staff debited my account for no reason and made me lose about 50K.

BUT

In the last couple of months I made N1m through their competent team's advice when all other Banks refused to advice wisely. If you look closer at what you consider evil you may discover some pretty damn good thing about it

They rectified it after I did what I advised you earlier, they are good at problem solving, it took about two weeks for mine to be completely resolved but I knew within 48 hours it was an incompetent person's mistake.

Thanks sir for your prompt replies. Done as you advised. Please, do you mind sharing what investment you did with them to generate such interesting interests, so we key in? Thanks plenty

iamoasa:
Please if I want to choose my rate by using the previous rate, do I go by the marginal rate or the true yield rate posted on the CBN website? CBN website posts marginal rates and true yield rate for each term

Just to make it clear for you, you use the marginal rate not the yield when quoting your rates for TB.

As the interest is upfront, the true yield gives you a correct rate indication factoring in the fact that the interest was paid ahead of time; such that for example you could reinvest same if you wanted.

battleaxe:


Just to make it clear for you, you use the marginal rate not the yield when quoting your rates for TB.

As the interest is upfront, the true yield gives you a correct rate indication factoring in the fact that the interest was paid ahead of time; such that, for example, you could reinvest same if you wanted.

Not quite correct. True yield is as a result of the fact that TBs are purchased at a discount. e.g. if you invest 1m @ 10% for a year, your interest would be 100k. The true yield on this would be 11.11% (100k/900k*364/364). Thus, the bank will debit you 900k leaving the 100k in your account or debit you the 1m and later credit you with 100k (net 900k).

^^so, what's wrong in the post you quoted?

I heard that the last auction was under subscribed. It means the next would be higher o.

MrTour:
Mine is even worse off compared to yours, one of their incompetent staff debited my account for no reason and made me lose about 50K.

BUT

In the last couple of months I made N1m through their competent team's advice when all other Banks refused to advice wisely. If you look closer at what you consider evil you may discover some pretty damn good thing about it

They rectified it after I did what I advised you earlier, they are good at problem solving, it took about two weeks for mine to be completely resolved but I knew within 48 hours it was an incompetent person's mistake.

@MrTour, could you please share an idea of what this team advice is? Information is KEY. Help me(us) grow too. Incase its not ok to divulge on here and to not deviate from the original thread, you can PM me. Thanks and God bless.

Pls when is the next auction taking place

I was expecting the transaction to occur today. Can I ask them at the bank? I'm at UBA now

Anyone know if any TB auction happened today? Or when the next auction will be?

hello house, what is the minimum one can invest in TB because I heard 100k and others say 1m

Kentrasso:
I was expecting the transaction to occur today. Can I ask them at the bank? I'm at UBA now

How far, did u ask them?

I seriously doubt if there was any auction yesterday, I made my request on 20th and haven't been debited.

Which bank? @ what rate?

victor54:
I seriously doubt if there was any auction yesterday, I made my request on 20th and haven't been debited.

Mfunkynation:
Which bank? @ what rate?

GTB @ 13.8 for 91days

Pls hope gtb allow some1 to place his own bid rate?

victor54:

GTB @ 13.8 for 91days

Mfunkynation:
Pls hope gtb allow some1 to place his own bid rate?

Yes sir

I actually used my own rate which is slightly above theirs. But I dnt knw what CBN finally used.

victor54:

How far, did u ask them?

I did. They said they would check but nothing yet. My account was not debited

If there was no auction yesterday does this mean they would take the money for the next one? I specified auction for the 21st December for 364 days at 18.5%

Pls which bank?

Kentrasso:
If there was no auction yesterday does this mean they would take the money for the next one? I specified auction for the 21st December for 364 days at 18.5%

Auction Date Security Type Tenor Auction No. Auction Week Maturity Date Succesful Bid Rate
12/21/2016 NTB 91 21-12-2016 - 91 Day Primary Market 4th Week 3/23/2017 13.0000 - 14.0000
12/21/2016 NTB 182 21-12-2016 - 182 Day Primary Market 4th Week 6/22/2017 16.0000 - 17.5000

Kentrasso:
If there was no auction yesterday does this mean they would take the money for the next one? I specified auction for the 21st December for 364 days at 18.5%

364 days was not offered for sale yesterday

X21:



364 days was not offered for sale yesterday

So would it be taken at the next auction or what exactly should I do?

Kentrasso:


So would it be taken at the next auction or what exactly should I do?

talk to your bank. I have not had similar experience

X21:



have fidelity debited you. yet to get any alert from them on 91 days order placed below 13.99% rate

After 2 unsuccessful bids Fidelity finally debited my account today based Dec 14th primary auction at my own discount of rate of 18.65% on 365% Tenor.

They even left the yield in my acct, Honestly I felt like someone that robbed CBN

Glory be to God almighty.

*ThE OcToPuS*

PETERiCHY:


After 2 unsuccessful bids Fidelity finally debited my account today based Dec 14th primary auction at my own discount of rate of 18.65% on 365% Tenor.

They even left the yield in my acct, Honestly I felt like someone that robbed CBN

Glory be to God almighty.

*ThE OcToPuS*

congratulations

Mfunkynation:
Pls which bank?

UBA

Kentrasso:


So would it be taken at the next auction or what exactly should I do?

I don't know how UBA works, but in my experience, when a bid is unsuccessful, you'd be informed and then advised of what is obtainable at d secondary market.
If you would not want your money lying fallow till the next date, you might choose to go that way.

However, I don't think the bank will save your request, and automatically take it to the next auction.

Pls what are first bank rate for 91 days,182 days n 364 days? Who has bid any tenor wit them b4? Help

So i just submitted to keystone bank for tbills.
91 days at 13.99% 1.5m.
But I'm nervous d next auction rate might be lower than 13.99

What do you guys suggest? ?
This is my first time investing.

The last rate for 21 dec was 14% stop rate