dejiotus:
Bad news for myself and all other guys that requested TB purchase via Stanbic. Just heard from my contact with the bank, that the bank's bids for all the three available tenors failed. Back to the drawing table to start mapping out new strategies. Just wondering if there are any other options to explore apart from the secondary market?
Stanbic secondary market rates for today are equally depressing

168 days at 9.85% and 112 days at 10%

Na wa oooh, this is the second time the bid is failing. Someone was telling me about stanbic ibtc mutual funds and how the rates are better. Any news guyz .

My friend in keystone is offering me 13% for 364days. But I dey fear that bank.

Ideas please....someone talked abt Skyebank. I prefer better rates than upfront interest becos even if u are reinvesting your interest at a lower ra

dejiotus:
Bad news for myself and all other guys that requested TB purchase via Stanbic. Just heard from my contact with the bank, that the bank's bids for all the three available tenors failed. Back to the drawing table to start mapping out new strategies. Just wondering if there are any other options to explore apart from the secondary market?
Stanbic secondary market rates for today are equally depressing

168 days at 9.85% and 112 days at 10%

Na wa oooh, this is the second time the bid is failing. Someone was telling me about stanbic ibtc mutual funds and how the rates are better. Any news guyz .

My friend in keystone is offering me 13% for 364days. But I dey fear that bank.

Ideas please....someone talked abt Skyebank. I prefer better rates than upfront interest becos even if u are reinvesting your interest at a lower rate , the one time higher rate gives u more returns. I don't mind FD or any higher interest rate paying scheme, except baba ijebu

Gavrelino123:

Ok....Kindly keep me posted once you are debited....I want that money out of my account latest tomorrow on the longest tenor closest to 364 days..
I will visit my bank tomorrow.
Thanks

Just got deducted. Gtb, secondary market, 315 days, 10.5 percent. The money is out finally. Fresh Hustle begins

zinaunreal:
My account officer just called me that gtb lost their bid for 364 days. He offered me an option from the secondary market for 315 days at 10.5% which i took instantly. I just want that money to disappear

I also bank wit GTB and was not debitted tho I applied for d 182 days tenor. First this is happening to me. I'll speak wit d accountant tomorrow

zinaunreal:


Just got deducted. Gtb, secondary market, 315 days
The money is out. Fresh Hustle begins

This good news. I was already dreading another endless 2 weeks wait. I certainly won't mind this 315 days offer

zinaunreal:


Just got deducted. Gtb, secondary market, 315 days
The money is out. Fresh Hustle begins

Thanks bro......I will battle them tomorrow to get a secondary market rate..

Who knows fixed deposit rate of stanbic and secondary market rate for treasury bills?

Quick update on this...

My banker came back to me and confirmed that there will be no issuance next week. What she meant was that they will start accepting bids for the auction the following week (May 17th) from next week (May 10th).

michellez:


I was told same at GTBank today so i already gave instructions for the bid.

Jejebaba:
House, any update from FBNH?

Thank God ooo, alert recieved.

katamo:
Quick update on this...

My banker came back to me and confirmed that there will be no issuance next week. What she meant was that they will start accepting bids for the auction the following week (May 17th) from next week (May 10th).

Okay thanks for the clarification.

alezzy13:


I also bank wit GTB and was not debitted tho I applied for d 182 days tenor. First this is happening to me. I'll speak wit d accountant tomorrow

Same here. Yet to receive an acknowledgement of the Letter of Authorization l sent to my account Officer instructing him to buy T-Bills on my behalf.

shonez:




Same here. Yet to receive an acknowledgement of the Letter of Authorization l sent to my account Officer instructing him to buy T-Bills on my behalf.

gtb very silly group time to change bank

LOOL. ..

Look at the rates I got from Diamond Bank
TENOR MATURITY RATE
41 DAYS 14-Jun-18 6.00%
90 DAYS 2-Aug-18 6.75%
181 DAYS 1-Nov-18 6.85%
230 DAYS 20-Dec-18 7.00%

ahiboilandgas:
gtb very silly group time to change bank

I'm telling you,very disappointing Bank.
I couldn't get a secondary market rate with them today......!!!!!!!
Kindly,has anyone successfully suscribed for GTBANK Secondary market today.?

naijaobi:
LOOL. ..

Look at the rates I got from Diamond Bank
TENOR MATURITY RATE
41 DAYS 14-Jun-18 6.00%
90 DAYS 2-Aug-18 6.75%
181 DAYS 1-Nov-18 6.85%
230 DAYS 20-Dec-18 7.00%

God punish devil...!!!!!
What the hell is this??!!!!!!!!!!!!!

naijaobi:
LOOL. ..

Look at the rates I got from Diamond Bank
TENOR MATURITY RATE
41 DAYS 14-Jun-18 6.00%
90 DAYS 2-Aug-18 6.75%
181 DAYS 1-Nov-18 6.85%
230 DAYS 20-Dec-18 7.00%

Has TB gone to this level?
Money in the dom account....useless
I can't believe the figures above.

naijaobi:
LOOL. ..

Look at the rates I got from Diamond Bank
TENOR MATURITY RATE
41 DAYS 14-Jun-18 6.00%
90 DAYS 2-Aug-18 6.75%
181 DAYS 1-Nov-18 6.85%
230 DAYS 20-Dec-18 7.00%

Useless rates with useless bank. First bank still offers 10% for around 182 days today at secondary markets.

Jejebaba:


Thank God ooo, alert recieved.

At what rate for 365days from first bank?

I just negotiated for 13% with Skyebank for 364days.
FD. It's far better for me. Yes no upfront I can manage.



TB go to bench.....let FD play 9 for me.

zamirikpo:
I just negotiated for 13% with Skyebank for 364days.
FD. It's far better for me. Yes no upfront I can manage.



TB go to bench.....let FD play 9 for me.

I think 10% on TB is better than the 13%

yak:


I think 10% on TB is better than the 13%

I doubt it. I may consider FD from now until TB is better.

yak:


I think 10% on TB is better than the 13%

calculating the above comparison between tb 10% and FD 13% will juxtaposes ur point

u guys can correct me:

asumming 100k is to be invested.

for FD, interest earned at the end of the month is 13,000 for 1year. interest on FD is taxed at 10%.

13,000 x 0.90= 11,700 is the interest earned at the end of the month after tax


For TB
Investing same amount 100,000 @ 10% rate for a year.

interest paid upfront will be 10,000. But since 90,000 be deducting from the account as at first day of incesting, it is important we calculate the true yield.

so true yield be 10,000x100/90,000x1=11.11%.

Well it seems FD beat TB comparing both rate.

zamirikpo:
I just negotiated for 13% with Skyebank for 364days.
FD. It's far better for me. Yes no upfront I can manage.



TB go to bench.....let FD play 9 for me.

Wow, 13% is cool.

yak:


I think 10% on TB is better than the 13%

T.B is Always better ....you can sleep peacefully...Even if Fixed Deposit rates rise to a whopping 18%,i still won't do.......Fixed deposit is like a thing of the past for me...Never ever.

Gavrelino123:

T.B is Always better ....you can sleep peacefully...Even if Fixed Deposit rates rise to a whopping 18%,i still won't do.......Fixed deposit is like a thing of the past for me...Never ever.

My new AO is a very good woman and a former neighbor, she told me that i shouldn't even think of Fixed Deposit. I asked her why she said so, she said she will explain somethings to me and about FD when i come to 9ja this summer as per i told her i'll be around in summer. She said ''forget about FD & focus on TB & MF. Will tell me other options when we meet this summer.

dotcomnamename:


My new AO is a very good woman and a former neighbor, she told me that i shouldn't even think of Fixed Deposit. I asked her why she said so, she said she will explain somethings to me and about FD when i come to 9ja this summer as per i told her i'll be around in summer. She said ''forget about FD & focus on TB & MF. Will tell me other options when we meet this summer.

I wouldn't mind if you share the outcome here whenever you meet her. There is a need to know why she said you should forget about FD. I used to do FD some years ago and I had no regret whatsoever. Maybe things have changed with FD now.
TB, why?

Agbaletu:

I wouldn't mind if you share the outcome here whenever you meet her. There is a need to know why she said you should forget about FD. I used to do FD some years ago and I had no regret whatsoever. Maybe things have changed with FD now.
TB, why?

notting changed fd is still good it help stabilize the system and keep bank profitable is also gud for shortime investor like 30 days which is not available in t.b or bonds

Gavrelino123:

I'm telling you,very disappointing Bank.
I couldn't get a secondary market rate with them today......!!!!!!!
Kindly,has anyone successfully suscribed for GTBANK Secondary market today.?

I contacted d account officer and he indeed confirmed they lost d bid. I asked about secondary MKT, but he said they yet to get information from their headquarters. So how soon will this be, I asked. The man just mumbled something about any time from now.

However for what its worth I won't totally write them off. In fairness to them it quite uncommon to lose a bid with them, and I've been using them for quite a while.

I used to buy thru diamond bank, but didn't like their services.

Access Bank Today's Rate

69days - 7.5%

104days -9%
139days - 9.5%
216days -10%

dotcomnamename:


My new AO is a very good woman and a former neighbor, she told me that i shouldn't even think of Fixed Deposit. I asked her why she said so, she said she will explain somethings to me and about FD when i come to 9ja this summer as per i told her i'll be around in summer. She said ''forget about FD & focus on TB & MF. Will tell me other options when we meet this summer.

my younger brother works with Diamondbank and he has been a banker for 8years. I didn't fix with his bank becos their rates are very poor. FD has inherent risk which has to do with the banks strength. the question is how strong is the bank u intend to fix ur money. that is the only risk. I started with Fd many years ago before I metarmophorsized into Tb, I had no regrets with Fd. the general fear people have is with the strength of these banks we have around, last year skyebank acquired mainstreet bank and ran into liquidity issues, but the cbn stepped in, same with keystone, I don't think the feds will allow any banks to fail in this era(my lay man's views).

don't cause unnecessary panic. there is nothing sinister about FD........

Gavrelino123:

T.B is Always better ....you can sleep peacefully...Even if Fixed Deposit rates rise to a whopping 18%,i still won't do.......Fixed deposit is like a thing of the past for me...Never ever.

TB is better wh6en th6e rates are good. we all started with FD and it can always play substitute when the need arises especially with very short tenures like 30days