coolangel54:
100,000 would yield 12,000 monthly with this interest rate?

jmanity:


The interest rate is not monthly, it is annual.

Mukah1234:
Please house. How do I pull out all my funds on stanbic MMF?

coolangel54:
SOMEONE SHOULD PLEASE ANSWER THIS O

Priceless25:


Saw it and was confused too.. It's an impressive progress from 13.47% to 16.64% considering that it's usually a gradual growth, but what I saw had me refreshing my page so many times just to be sure.

Ugosample:


Is that the actual returns for the balanced funds

coolangel54:
INTEREST RATES AS AT TODAY:
SIBTC 12.34%
ARMS 13.1282%
I think I have to visit ARMS now to invest in MMF. Someone should knidly assist with 100,000 interest rate for one year please. I no know maths o

coolangel54:
Please , calculate with an initial capital of 100,000 for me.

eezeribe:

Your interest after 1 year would be 12,310 at 12.31%....however,you will have to withdraw a little less than this amount due to 'charges'...

TeamLeader:



Please am still in a state of unknown here sir.
Since the interest rate fluctuates on a daily basis, am still confused on the rate they use to calculate the interest on the initial capital at the end of the month. lets say capital of 10k.
Educate me sir

TeamLeader:



Please am still in a state of unknown here sir.
Since the interest rate fluctuates on a daily basis, am still confused on the rate they use to calculate the interest on the initial capital at the end of the month. lets say capital of 10k.
Educate me sir

Ademat7:
d rate is displayed per day,may rise or fall and it's used to calculate your gain per day
Note: 10k+#100 today becomes 1100x(tomorrow's percentage) and so on and so forth

eezeribe:

Compounding occurs quarterly, not daily,so therefore interest earned today doesn't form part of tomorrow's capital, however, interests earned in the course of three months (a quarter) would form part of the the capital for the next quarter if and only if (IFF) the fund owner indicated in his account opening clause that interests accrued should be automatically reinvested in funds.

yak:


the mistake I made in my first investment with FBN. I regretted it

eezeribe:

Ooh, so sorry about that.. But I guess you are OK now as regards the 'know how'..

yak:

very much better now. u can't b in this forum n not b upto speed

eezeribe:

Compounding occurs quarterly, not daily,so therefore interest earned today doesn't form part of tomorrow's capital, however, interests earned in the course of three months (a quarter) would form part of the the capital for the next quarter if and only if (IFF) the fund owner indicated in his account opening clause that interests accrued should be automatically reinvested in funds.

peacengine:

chinexex:


How and where do you get their daily rates from?

eezeribe:

Compounding occurs quarterly, not daily,so therefore interest earned today doesn't form part of tomorrow's capital, however, interests earned in the course of three months (a quarter) would form part of the the capital for the next quarter if and only if (IFF) the fund owner indicated in his account opening clause that interests accrued should be automatically reinvested in funds.

eezeribe:

Your interest after 1 year would be 12,310 naira which is equivalent to 1025.8 naira monthly at 12.31%(excluding compounding) ....however,you will have to withdraw a little less than this amount due to 'charges'...

eezeribe:

It's my pleasure.even though interest rates do fluctuate, but by the end of the year, the yield would be based on an 'average' of all the fluctuations.
If you invest 10000 in MMF at 12.31 %, your interest after one year would be 123.1 naira, which is equivalent to 10.258 Naira every month.(excluding compounding)
Investment in the capital market only makes sense when your starting capital is on the 'high side'.
One good thing about the money market fund is that interests are compounded quarterly...

IHelp:


Sir/Ma,
Your calculation above is for N1,000 and not N10,000.
The interest will based on the assumed rate will ne N1,231 for one year.
Kindly recheck.

TeamLeader:
Thanks sir's.

Though someone introduced the mmf to without much info and based on what i've been seeing i think its a good investment to put money on.
And for now i'll like to start with 20k.

Here are my questions
1. When should I be expecting interest on the 20k? Monthly, quarterly or yearly?

2. How much should I be expecting (Help me do the calculations abeg)

3. Between stanbic & arm which one is better or is it advisable to invest in the 2 simultaneously.

4. What are the necessary steps to take when starting?

Please explain in a layman language. I no too go school for big grammar like that.

Thank you

coolangel54:
Can you please explain "compounding' for me in a layman's language. Also, what charges apply? I am about to start with 100,000.

coolangel54:
A customer care representative from ARM called me this morning and she was saying that it is the banks which charge for withholding tax, etc and that they do not charge. Secondly, that compounding kiniko does not apply to them cos dividends is shared quarterly and that their rate as at today is 13.1% as against Stanbic 12.27%. [/b]SENIORS IN THE HOUSE, WHICH IS BEST: Stanbic IBTC or ARM?[b]

eezeribe:

I don't know what you mean by kiniko... Lol
There are different types of MUTUAL FUNDs as well as different types of shares.
The paying of dividends mostly applies with shares, while compounding of interests mostly applies to mutual funds, especially the money market funds. However, both dividends and compounding are tools to increase the investors returns in the long run.
The issue of withholding tax on mutual funds applies only when you want to withdraw a certain percentage of the profit accrued.
But if you are to withdraw everything, both interest and initial capital, you will not pay for withholding tax, you will only pay for management fees which is very little.
If a mutual fund doesn't do compounding, I won't invest in it unless the its interest rates beat the 'market'... Lol

coolangel54:
Does Stanbic IBTC do it? Seniors who are in the house please help out, this is money matter. I DON TIRE FOR PONZI