Mup4life:
The holding period is 30 days not 90, you can start redeeming(withdrawing) after the holding period without any penalties and you could also top up your initial investment anytime.

Pls do I get paid my profit automatically after 30 days holding or I ve to redeem my profit by myself monthly. Please shed some light on this?

jaychubi:


Pls do I get paid my profit automatically after 30 days holding or I ve to redeem my profit by myself monthly. Please shed some light on this?

you have to redeem monthly, it will only be paid automatically quaterly.

Mup4life:
you have to redeem monthly, it will only be paid automatically quaterly.

Ok since compounding interest is nt possible monthly does it make sense leaving profits for a quarter b4 it can compound or its better redeemed monthly n reinvested

jaychubi:


Ok since compounding interest is nt possible monthly does it make sense leaving profits for a quarter b4 it can compound or its better redeemed monthly n reinvested

which bank did you invest with? For stanbic ibtc i spoke with their customer care agent today and he told me they just started daily compounding. In any case compounding your profits if you don't need it urgently is the way to go.

Mup4life:
which bank did you invest with? For stanbic ibtc i spoke with their customer care agent today and he told me they just started daily compounding. In any case compounding your profits if you don't need it urgently is the way to go.

Stanbic ibtc mmf

Mup4life:
The holding period is 30 days not 90, you can start redeeming(withdrawing) after the holding period without any penalties and you could also top up your initial investment anytime.

Thanks a lot. With first bank MMF does one get daily compounding?

afroxyz:


Thanks a lot. With first bank MMF does one get daily compounding?

No idea, i only use stanbic and the compounding had been done quaterly, but ystrdy i talked to a customer care agent and he said they just started daily compounding.

Kemade2007:
Unbelievable!! I redeemed online yesterday and my account credited today. Just a day so easy

If I remember correctly, sometime in May, I placed a redemption request around 10a.m for about 75% of my investment, and the funds hit my account the same day. Stanbic is really cool.

What I don't understand now is the fact that the interest on my funds from the last quarter is about 18% more than I expected, there have been some extra additions that I don't understand. Anyone has an explanation for this please?

awesomeJ:

If I remember correctly, sometime in May, I placed a redemption request around 10a.m for about 75% of my investment, and the funds hit my account the same day. Stanbic is really cool.

What I don't understand now is the fact that the interest on my funds from the last quarter is about 18% more than I expected, there have been some extra additions that I don't understand. Anyone has an explanation for this please?

Yeah also received the extra additons but don't understand. Based on my daily calculation,the interest on my fund is around 17.47% but it was about 18%+ on their website

Please house, when will the interest rate likely to drop since TB rates is now dropping or should we still expect these higher rate for this year

Stanbic pumping some big profits into my funds, hope all is well got additional 5k plus today. Make dem no raise my hope come dash am o.

Kemade2007:
Please house, when will the interest rate likely to drop since TB rates is now dropping or should we still expect these higher rate for this year

Pls any idea on ds

Mup4life:
Stanbic pumping some big profits into my funds, hope all is well got additional 5k plus today. Makr dem no raise my hope come dash am o.

Though my funds with them not much bt additional profit being credited to my account

Kemade2007:


Though my funds with them not much bt additional profit being credited to my account

am suspecting some kind of technical error, think everything would be normalized.

Kemade2007:


Yeah also received the extra additons but don't understand. Based on my daily calculation,the interest on my fund is around 17.47% but it was about 18%+ on their website

I don't understand this StanbicIBTC Money Market Funds account O! My capital was in excess of 250, when i check it yesterday the 250 has reduced to 150. What do you think is going on?

dotcomnamename:


I don't understand this StanbicIBTC Money Market Funds account O! My capital was in excess of 250, when i check it yesterday the 250 has reduced to 150. What do you think is going on?

Mine dey even go up. Tried calling them yesterday but couldn't reach them.

Kemade2007:


Yeah also received the extra additons but don't understand. Based on my daily calculation,the interest on my fund is around 17.47% but it was about 18%+ on their website

Lol. I thought I was the only only one that carries out daily calculations. Your calculation is spot on. Its usually ±1% of the actual percentage on their website.

I've argued severally with them about this and asked them to be more transparent in their calculations and also show us what is being paid in daily.

The extra additions the last few days have been slightly frightening. They are yet to harmonize the mobile app data with the website data. Mobile app still shows interest carryover from last quarter.

I just got this email

beyolah:
I just got this email

I received the same.

dotcomnamename:


I received the same.

I also received it

jayfierce:
Lol. I thought I was the only only one that carries out daily calculations. Your calculation is spot on. Its usually ±1% of the actual percentage on their website.

I've argued severally with them about this and asked them to be more transparent in their calculations and also show us what is being paid in daily.

The extra additions the last few days have been slightly frightening. They are yet to harmonize the mobile app data with the website data. Mobile app still shows interest carryover from last quarter.

Yes someone needs to calculate it maybe they will be more transparent this time around

Stanbic Money Market Fund now reinvest your accrued interest earned, and the resulting earnings are added to your original principal to form a new principal. The idea is to enable their clients to maximize their earnings and to allow for more transparency in the management of the Fund. Sounds great, except that they ought to have communicated with their clients before implementing. I spoke at length with them and I can feel their seriousness. Enjoy the enhanced earning model.
.

Investnow2017:

Stanbic Money Market Fund now reinvest your accrued interest earned, and the resulting earnings are added to your original principal to form a new principal. The idea is to enable their clients to maximize their earnings and to allow for more transparency in the management of the Fund. Sounds great, except that they ought to have communicated with their clients before implementing. I spoke at length with them and I can feel their seriousness. Enjoy the enhanced earning model.
.

Cool. Getting more interested

dotcomnamename:


I don't understand this StanbicIBTC Money Market Funds account O! My capital was in excess of 250, when i check it yesterday the 250 has reduced to 150. What do you think is going on?

Most likely, part of your interest has been reinvested, and the earned interest will be credited to your account by next week. Keep a tab and endeavour to speak with your client officer for better clarification.
.

Investnow2017:

Stanbic Money Market Fund now reinvest your accrued interest earned, and the resulting earnings are added to your original principal to form a new principal. The idea is to enable their clients to maximize their earnings and to allow for more transparency in the management of the Fund. Sounds great, except that they ought to have communicated with their clients before implementing. I spoke at length with them and I can feel their seriousness. Enjoy the enhanced earning model.
.

Nice development, was shocked that my profit was in excess of over 5k, had to call and was told same thing. A very welcome development.

Investnow2017:

Stanbic Money Market Fund now reinvest your accrued interest earned, and the resulting earnings are added to your original principal to form a new principal. The idea is to enable their clients to maximize their earnings and to allow for more transparency in the management of the Fund. Sounds great, except that they ought to have communicated with their clients before implementing. I spoke at length with them and I can feel their seriousness. Enjoy the enhanced earning model.
.

At what frequency is one earnings added to the original principal?

Someone on this thread said daily, Is that correct,? Going by the discussion you had with their rep.

I noticed that the available balance and interest earned does not always agree. Take for example someone that invested 500000.

His available balance will show #504686.78 and interest as #5001.77

Instead of

#504686.78 as available balance and interest as #4686.78

What's causing the difference someone please explain

Cc mup4life
Sgtponzihater1
Ernie4life

https://nairametrics.com/asset-manager-blackrock-has-renewed-interest-in-nigerian-bonds/

Guru in the house pls what is the implication of this to Nigerian investors

jaychubi:
I noticed that the available balance and interest earned does not always agree. Take for example someone that invested 500000.

His available balance will show #504686.78 and interest as #5001.77

Instead of

#504686.78 as available balance and interest as #4686.78

What's causing the difference someone please explain

Cc mup4life
Sgtponzihater1

This is caused by their new implementation, check your recent investment you would see the balance of the interest there. The recent investment will have something like 500,314.99, this is your new principal.


The 314.99 + 4686.78 =5001.77

Mup4life:
Nice development, was shocked that my profit was in excess of over 5k, had to call and was told same thing. A very welcome development.

hw much did u invest that was able to give u 5k.
Dont understand the recent development. i used to get daily interest of all most N100 but since october they paid me N42.68 and 186.40 for 3rd and 5th of October respectively. I dont realy know the formula for this recent calculations for investment of 200k. pls explain better

Kevostica:

hw much did u invest that was able to give u 5k.
Dont understand the recent development. i used to get daily interest of all most N100 but since october they paid me N42.68 and 186.40 for 3rd and 5th of October respectively. I dont really know the formula for this recent calculations for investment of 200k. pls explain better

really don''t know the basics for these caculations you just have to speak to a customer care agent. The money credited in excess has been removed, guess they still adjusting the system.

Please I did an online subscription of a substantial amount(stambic mmf) in the morning and it has not yet reflect )in my e account since morning, and I noticed some amount has been deducted from my balance, what is the way forward?