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

Your interest is on point, you guys should learn how to calculate this % things b4 u give someone heart attack here or u go blow ur acc officer, lol. On a lighter note. Was thinking that they probably huke u down on a fixed deposit unknown to u, but after calculating ur investments, you are good to go. Take care

madakiagwom:

All about I-invest App
The I-invest app was launched by Sterling Bank in partnership with Parthian Partners and can be found and downloaded free on Google Play and Apple Store.
The sole aim for which this app was created was to enhance the participation in investing in Treasury bills and to bridge the gap between the per-conception of this method of investment and potential investors.
The I-invest app has also brought treasury bills investment to the doorstep of everyone who is interested in it. You do not need banking officials, no documents or forms to fill and no spending of valuable time in the bank anymore. It is as simple as that; when you think investing in Treasury bills, simply think I-invest app.
For every app, you must be registered to enjoy the features inherent in the app. This is not the case with the I-invest app. I am pleased to inform you that you do not need to register or become an account holder with Sterling Bank to enjoy this app or its service. All you need are your identification card, BVN and a valid phone number and you would be registered.
It is so easy to use that in a little over five (5) minutes, you are all set up and ready to start investing. All of this is done from the comfort of wherever you are through your mobile phone without stress. It accords you the wherewithal to learn and see what you are doing first hand.
Your money is secure and if at any time you feel overwhelmed, you have the choice of simply withdrawing your funds.

You must be working there

Creamz:
while I got 182 days for 6.6% in zenith bank. I feel I have been ripped off

I don't think you have been ripped off. I think what you transacted with your bank was fixed deposit and not NTB. My thoughts though.

Chisco27:


I don't think you have been ripped off. I think what you transacted with your bank was fixed deposit and not NTB. My thoughts though.

I withdraw my last quote on this. The calculations made by the gurus in the house were correct.

A friend of mine who is introducing me to TBs told me he made an investment of 7M for 280days via access bank and the bank charges were about 21,000. Isn't that rather too much? My question is who knows how bank charges are calculated?

Akin3891:



Your interest is on point, you guys should learn how to calculate this % things b4 u give someone heart attack here or u go blow ur acc officer, lol. On a lighter note. Was thinking that they probably huke u down on a fixed deposit unknown to u, but after calculating ur investments, you are good to go. Take care

When I called the bank, I was told that the interest for 364 days tenor is 13.1% so because I invested for 182 days tenor, it had to be half of the interest for the 364 days making it 6.55%

[quote author=Creamz post=74902503]

When I called the bank, I was told that the interest for 364 days tenor is 13.1% so because I invested for 182 days tenor, it had to be half of the interest for the 364 days making it 6.55%[/quote

Interest rates are always quoted per annum (calendar year), 365 days usually and 366 days in a leap year. This has been discussed many times on the last couple of pages. People should always divide the interest due ( principal x rate), divide by 365 ( or 366 in a leap year) and multiply by the tenor ( number of days) to get the interest amount). So creamz, the interest rate was not 6.55% but 13.1%. Although you can say you got 6.55% of your capital as interest but this is different from the interest rate (as interest rates are quoted per annum (per year)

Chisco27:
A friend of mine who is introducing me to TBs told me he made an investment of 7M for 280days via access bank and the bank charges were about 21,000. Isn't that rather too much? My question is who knows how bank charges are calculated?

Maybe he used current account for the TBill. It is not advisable to use current account.

Hello house; how can I liquidate my treasury bills before the due date; and what are the charges for that;

Barrytone:


like i said earlier, when you run into issues then you will know its not sterling bank that owns the app. its convenient to use but upfront is not achieved and compounding is not achieved. its only good for those not in the country, use the banking hall so you can hold somebody accountable and not going to sterling bank branch in your town and they will disown the app, leaving you with one option of travelling to lagos(head office) to sort it out or you take my way and go threatened your bank who will also be firm that the money is not in their coffers and redirect you to sterling. i only old first bank that they connived and rechannel my money as the receiver(Parthian partners) is telling me that they have not seen my money. i told the manager that i will start with social media before he advise one of his officers to lodge a complain against sterling bank with cbn, within 2 days i got a call from Parthian partners apologizing and promising to pay for the 3 weeks they held my money but when money was released the following day it was solely my capital and i moved on after learning my lessons. for me, its a no no

Thanks so much for sharing your experience. The truth is that all these apps are not as reliable as presented. When it comes to funds. It is good to have someone you can shout at and not those who will just refuse to pick your call.
The first test of every investment is the security of your principal.

The punishment is that you will kneel down in front of the class. In financial world the words charges/subtraction are rather used.

The charges will depend on how long the investment has been running and selling rate to the next buyer.

temmy59:
Hello house; how can I liquidate my treasury bills before the due date; and what are the punishment for that;

TotoNaRubber:
The punishment is that you will kneel down in front of the class. In financial world the words charges/subtraction are rather used.

The charges will depend on how long the investment has been running and selling rate to the next buyer.

Thank you, I appreciate; also I can just liquidate part; perhaps quarter; the investment already run 4 month out of 6; and I need the funds;

zinaunreal:


You must be working there

Iol.... I am regular customer. I was telling someone who ask about the app. It's actually an advisable option for people outside Nigeria. If you are in Nigeria, you can easily go to your bank and transact TB.
https://i-investng.com

Pls what should be the interest of N1.7m for 91days@ 11%
I don't understand first bank o! Is there now charges on tbills?? I used a savings acct.My calculation was N46,620

Eaze66:
Pls what should be the interest of N1.7m for 91days@ 11%
I don't understand first bank o! Is there now charges on tbills?? I used a savings acct.My calculation was N46,620

46750 plus bank charges

Good morning house.
I was debited by Stanbic yesterday for primary market 364 days tenor but no notification of bid rate as at other times.

Can anyone confirm Stanbic bid result for 364days?

please join us as we continue our prayer. https://www.myjesusandi.com/2019/01/19/may-god-bless-our-plans-9-days-prayer-5th-day/

Barrytone:


46750 plus bank charges

Does bank charges differ from bank to bank?

Also, is the bank charges in the primary market different from the secondary?

The charges I'm acquainted to is 0.125%

Barrytone:


46750 plus bank charges

Thanks for d reply. So first bank short paid me! Like N N1,750 after bank charges of N130??

Eaze66:


Thanks for d reply. So first bank short paid me! Like N N1,750 after bank charges of N130??

that might be the charges.

C505:


Does bank charges differ from bank to bank?

Also, is the bank charges in the primary market different from the secondary?

The charges I'm acquainted to is 0.125%

its different from bank o bank. same for both markets

Barrytone:


that might be the charges.

Charges of N 1,880 for primary market??

I will surely visit them next week

Eaze66:
Pls what should be the interest of N1.7m for 91days@ 11%
I don't understand first bank o! Is there now charges on tbills?? I used a savings acct.My calculation was N46,620

It is obvious you didn't get 11%. The fact that rates closed at 11% as published doesn't mean everyone got it. Ask your bank the rate they closed their bid for the 91 day tenor

Don't use the published rates to do your calculations. Ask your bank of their bid rate

Iamzik:
Good morning house.
I was debited by Stanbic yesterday for primary market 364 days tenor but no notification of bid rate as at other times.

Can anyone confirm Stanbic bid result for 364days?

From information I gathered, it's around 14.3%. others should confirm. It wasn't close to the closed rate of 15%.

Yeah I think u are right! Thanks

unite4real:


It is obvious you didn't get 11%. The fact that rates closed at 11% as published doesn't mean everyone got it. Ask your bank the rate they closed their bid for the 91 day tenor

Don't use the published rates to do your calculations. Ask your bank of their bid rate

Liquidation will be for all the investment and it is safe to say you will receive most part of your initial invested funds. There will be a reduction of two months interest and slightly a little more charges like a few lthousands to reflect the difference in the rate when you initially bought and the rate currently sold to the new investor.

temmy59:


Thank you, I appreciate; also I can just liquidate part; perhaps quarter; the investment already run 4 month out of 6; and I need the funds;

Agbaletu:

Maybe he used current account for the TBill. It is not advisable to use current account.

Can you explain why one should not use current account to purchase treasury bills?

wura2020:


Can you explain why one should not use current account to purchase treasury bills?

Bank charges on current account is almost twice that of savings account. One of the reasons I stopped using current account for TBills investment.

TotoNaRubber:
Liquidation will be for all the investment and it is safe to say you will receive most part of your initial invested funds. There will be a reduction of two months interest and slightly a little more charges like a few lthousands to reflect the difference in the rate when you initially bought and the rate currently sold to the new investor.

I really appreciate your effort sir; please is it possible for me to convert my funds to dollars and buy treasury bills with dollars

something people don they collect interest since January 2..y the hell is she even lying? is it her money? all these account officers I tire for dem..u know wat? dont ask her like u don't know much abt it..ask like u know everything and tell her u ask their head office..she go humble immediately

Iamzik:
Good morning house.
I was debited by Stanbic yesterday for primary market 364 days tenor but no notification of bid rate as at other times.

Can anyone confirm Stanbic bid result for 364days?

Dear Iamzik. I am also very much interested on Stanbic bid rate at the last primary market, especially 364 day tenor. Based on my calculation the discounted rate was 14.34%. I don't know if Stanbic is joining other banks particularly Zenith to shave off small amount of the rate from customers. I could have settled for 14.5% at the secondarily market but waited for 2 weeks as I was confident Stanbic will bid between 14.75 and 15% based on events at earlier OMO auctions. I was very disappointed when I got 14.34 % at the primary market. Still waiting for the notification document sha. Maybe Stanbic also made errors with the interest calculation.

Creamz:


When I called the bank, I was told that the interest for 364 days tenor is 13.1% so because I invested for 182 days tenor, it had to be half of the interest for the 364 days making it 6.55%

Yeah, every interest rate is on a per annum basis. So if you don't do a 364 day investment, you shouldn't calculate on the interest rate proposed to you.

That's the main mistake many people make in short mid term investments like this.