Grupo:


If the tenor is 91 days, then the interest you got is correct.

dejiotus:


Unfortunately 200K is below the minimum amount allowed for secondary Treasury bills purchase.with Stanbic 200K should be okay for the primary market if I am not mistaken, but you need to drop your application latest by 1 pm on Tuesday preceding the auction date. If I were you, I will submit the application now towards the next Primary market date, to avoid story that application has closed again
Yes you can submit your application anytime.

Creamz:


I need some clarifications on this T-bills if you can help. I bought some treasury bills for this 14/1/2019 and I opted for the 182 days duration. This been my first time, I am a bit confused. The rate I saw from the CBN is 11% but when I calculated the percentage I got from my bank when the money was collected it was 6.6% now my question is, is this how it works or the bank is just trying to reap me off?

Creamz:


I did 182 days with Zenith Bank the interest I got was 6.6% do you think that is the correct interest for 182 days?

Creamz:
okay. Thanks a lot

murphyrichy:
Are u serious, u were cheated badly bro

Creamz:


I will be heading to the bank tomorrow for explanations

ahiboilandgas:
notting yet did u complain

Internetboy:



Kindly quote amount you invested and the supposed upfront interest you got as well.

My mind is telling me you did not do your calculation properly.

Creamz:


I will be heading to the bank tomorrow for explanations

eddyakinrinde:


That's serious o. I hope I won't av such experience sha. Am just trying them for the first time anyway. I only subscribed to a 37day investment in Dec. It going to mature by 24th of this month. Till then I will know my next move.
It is also a sort of cheating since they are not paying the rate upfront. Except one has another means of livelihood and don't really depend on the interest before it matures.
Thanks @ barrytone

madakiagwom:

I have been using the i-invest app for my TB because I am abroad and not easy to run the normal TB from here.
Yes the I-invest don't pay upfront interest but rather the interest is re-invested together with your principal to give a higher interest after the tenor matures.
For example you invest 1m for 364days at 14%, your interest should be around 140 k +- , but you realise that you interest will be around 160k, meaning your interest was compounded (your rate becomes about 16%).
It is a good app to invest in when you don't need the interest to use immediately.
Thanks

madakiagwom:

I have been using the i-invest app for my TB because I am abroad and not easy to run the normal TB from here.
Yes the I-invest don't pay upfront interest but rather the interest is re-invested together with your principal to give a higher interest after the tenor matures.
For example you invest 1m for 364days at 14%, your interest should be around 140 k +- , but you realise that you interest will be around 160k, meaning your interest was compounded (your rate becomes about 16%).
It is a good app to invest in when you don't need the interest to use immediately.
Thanks

Fyabdul:
Please am at the bank. I want to invest with my interest with amount of 2m. Their rate will show by 10a.m.
But I need someone to use 14% for me. What will I get.

madakiagwom:

I have been using the i-invest app for my TB because I am abroad and not easy to run the normal TB from here.
Yes the I-invest don't pay upfront interest but rather the interest is re-invested together with your principal to give a higher interest after the tenor matures.
For example you invest 1m for 364days at 14%, your interest should be around 140 k +- , but you realise that you interest will be around 160k, meaning your interest was compounded (your rate becomes about 16%).
It is a good app to invest in when you don't need the interest to use immediately.
Thanks

dejiotus:


For one year the interest is 280K. But you will need to divide 280K by 365 days and multiply by the number of days you get at the bank (ie tenor) to get your actual interest.
Good luck at the bank

Desanta:

You are very correct. I have been using the app for about a year now.

dejiotus:


For one year the interest is 280K. But you will need to divide 280K by 365 days and multiply by the number of days you get at the bank (ie tenor) to get your actual interest.
Good luck at the bank

Internetboy:



Kindly quote amount you invested and the supposed upfront interest you got as well.

My mind is telling me you did not do your calculation properly.

Creamz:
I invested 4 million Naira for 182 days and I got N269,260

carbon1224:


On what I interest rate

Creamz:
.

It's the interest rate I was told is 13.1 for the year

OgogoroFreak:
it's correct bro.

That 13.1% is for 364 days but you invested for 182 days which is half of 364 days so, your interest would be divided by 2.

eddyakinrinde:

OK like what happens at maturity on the I -invest app, will your investment and the interest earned move from the 'portfolio balance' to the wallet balance?.