Please do anyone have any idea on the Current FIxed Deposit Interest Rate For Nigerian Banks,,

please share

For UBA, you get N7000 for every N500k fixed for 3months.

queendoreez:
For UBA, you get N7000 for every N500k fixed for 3months.

Thats very very poor

Ecobank gives 5% on 1m but 10% VAT will still be deducted .

lastmessenger:
Thats very very poor

Yes, very poor but i had to do it anyway because if the money remains in my account and i make withdrawals more than 3 times in a month i'll get nothing and since i make several withdrawals every month, i had to fix the amount i had no urgent need for at the moment.

I took some more risk by fixing with an MFB for 3 months 14% PA. That comes to around 3.5% in net gain after removing withholding tax.

for how many month fixing pls

agent01:
Ecobank gives 5% on 1m but 10% VAT will still be deducted .

My advice to you is that instead of fixed deposit, you should consider Treasury Bills. You can invest for 3 or 6 or 12 months and get interest rates of between 15 - 19% per year. It is one of the means by which Federal government borrows money from the public.

But you need to find out the minimum amount to invest from your bank, but could be as low as 100,000 naira.

That is probably where your bank will invest the money too, and give you a third of the interest they get.

Cheers.

Kunlef.

Fcmb does between 10 to 12 per cent depending on how much you're investing

Fixed 100k in access bank 2yrs ago for 1month and got N600 as interest. But if na them borrow u money nw u go fear d interest rate they go demand. No wonder pple joined MMM..... Wedding MC

kunlef1:
My advice to you is that instead of fixed deposit, you should consider Treasury Bills. You can invest for 3 or 6 or 12 months and get interest rates of between 15 - 19% per year. It is one of the means by which Federal government borrows money from the public.

But you need to find out the minimum amount to invest from your bank, but could be as low as 100,000 naira.

That is probably where your bank will invest the money too, and give you a third of the interest they get.

Cheers.

Kunlef.

text book economics

Go for treasury bills!

Personally, l can not fix when l have some many ventures to invest in.

MMM still no 1

lol peeps just dont know what to invest in

your bettr off with penny stocks

or cryptos



or your get a binary options robot and target 10% a week on 1000$ plus

oh i forgot Nigerians dont do such stuff

Iyen ni won BA e so ni

Stanbic 12% before tax
Sky bank 10% before tax
Tax is about 2%

There is no official rate now

I don't know....but I know MMM rate is higher than it!

agent01:
Ecobank gives 5% on 1m but 10% VAT will still be deducted .

Vat on the interest or the money i put in?

Dear all,

Treasury bill is far better than fixed deposit, you can fix an amount for 91days, 180days or 365days at an annual rate of 15% to 17%.

The minimum amount required for treasury bill is 100k

lastmessenger:
Thats very very poor

It is fixed deposit oh, a type of savings account. It is not an investment nor is it MMM.

N500k at 6% to 10% band for 3months is fair enough.

kjhova:


It is fixed deposit oh, a type of savings account. It is not an investment nor is it MMM.

N500k at 6% to 10% band for 3months is fair enough.

Shebi?

kaz4sure:
Dear all,

Treasury bill is far better than fixed deposit, you can fix an amount for 91days, 180days or 365days at an annual rate of 15% to 17%.

The minimum amount required for treasury bill is 100k

yeah you re right I did for 750k n got 24or25k upfront payment

kaz4sure:
Dear all,

Treasury bill is far better than fixed deposit, you can fix an amount for 91days, 180days or 365days at an annual rate of 15% to 17%.

The minimum amount required for treasury bill is 100k

what is the risk in it?

No risk involved, treasury bill has ZERO percent risk factor. It is one of the safest investment in the world

queendoreez:


Yes, very poor but i had to do it anyway because if the money remains in my account and i make withdrawals more than 3 times in a month i'll get nothing and since i make several withdrawals every month, i had to fix the amount i had no urgent need for at the moment.

why don't you try the ARM money market fund. the mutual fund buys treasurebills with your money and they are currently paying 15%

kaz4sure:
Dear all,

Treasury bill is far better than fixed deposit, you can fix an amount for 91days, 180days or 365days at an annual rate of 15% to 17%.

The minimum amount required for treasury bill is 100k

And how do you go about it? What's the process?

kaz4sure:
No risk involved, treasury bill has ZERO percent risk factor. It is one of the safest investment in the world

well said bro, I did not know u have introduced t. bills to her before I added my comment. if she can bid directly with banks it's a good one for her but if she is the busy type she can join any moneymarket mutual fund. registration and fund redemption is flexible.