freeman67:



You will be Taxed 10% of that 9% if you go for the FD. At the end what you will get is 8.1% but since your interest is in that 30days tenure, you can just go for it . The difference isn't much.

First 30 days 8.1%, second 30 days 8.1%, that's 16.2% in 60 days.
if I keep rolling over, I will get more than 100% in 365 days.
Baba, na FD I go do.

freeman67:



You will be Taxed 10% of that 9% if you go for the FD. At the end what you will get is 8.1% but since your interest is in that 30days tenure, you can just go for it . The difference isn't much.

Last year, the money was just lying redundant in my savings account, this year I'ma make the money do some work.

I will start with FD and see how it goes.

Thanks again bro.

Kirchhoff01:

No bank will give you that rate. I'm currently running a FD with. First Bank Nigeria @6.8%. I'm on monthly rollover

Ask questions before you say what you don't know. I just liquidated my 2M FD in ECOBANK at 8.5% and have fixed it again for 8.5%.
I plan on using the money at anytime that's why I didn't put in Tbills.

Good day my people.

I wish to ask if it is possible to give a standing order to my GTB account officer to reinvest my Tbill capital and profit on another Tbill auction after maturity and let it go on for 10 years? Your answers is highly appreciated.
Thanks

ClitRaider:


First 30 days 8.1%, second 30 days 8.1%, that's 16.2% in 60 days.
if I keep rolling over, I will get more than 100% in 365 days.
Baba, na FD I go do.

lol.... You still have little knowledge about FD, percentage is annually

The 8.1% is per annum and not per month. If you deduct 10%, you are left with 7.29% per annum.

ClitRaider:


First 30 days 8.1%, second 30 days 8.1%, that's 16.2% in 60 days.
if I keep rolling over, I will get more than 100% in 365 days.
Baba, na FD I go do.

ClitRaider:


First 30 days 8.1%, second 30 days 8.1%, that's 16.2% in 60 days.
if I keep rolling over, I will get more than 100% in 365 days.
Baba, na FD I go do.

if na like that, we for turn billionaires over night oh.

That 8.1% on your 1m na like 6k in the 30days o

ClitRaider:


First 30 days 8.1%, second 30 days 8.1%, that's 16.2% in 60 days.
if I keep rolling over, I will get more than 100% in 365 days.
Baba, na FD I go do.

You think say you just discover gold abi with this?.

If na so, i for don dey my village since 5 years ago on retirement and be drinking palmwine with fresh fish pepper soup every evening.

All rates are quoted per annum and not per month.

needful:
Pls is it advisable to put huge amount of money on mmf like Axamansard, stanbic mutual funds?, what organisation regulates this investment houses. I browsed it but couldn't get anything on it. Urgent answer needed pls.

Of course. They are regulated by the NSE and SEC themselves. You have nothing to fear.

NL1960:


You think say you just discover gold abi with this?.

If na so, i for don dey my village since 5 years ago on retirement and be drinking palmwine with fresh fish pepper soup every evening.

All rates are quoted per annum and not per month.

me for retire immediately....

luvly4luv:
Good day my people.

I wish to ask if it is possible to give a standing order to my GTB account officer to reinvest my Tbill capital and profit on another Tbill auction after maturity and let it go on for 10 years? Your answers is highly appreciated.
Thanks

buy bond 2029

ahiboilandgas:
buy bond 2029

Please what's the rate for this bond

Barrytone:


Please what's the rate for this bond

the last was 15.6

ClitRaider:


First 30 days 8.1%, second 30 days 8.1%, that's 16.2% in 60 days.
if I keep rolling over, I will get more than 100% in 365 days.
Baba, na FD I go do.

It's not like that ooo.. Sorry I thought you already know that interstate is per annum (yearly not monthly) so you will have to divide the interest of that Fixed Deposit by 365 (days) or 12(month) before you get actual interest.

miracleawesome:
The 8.1% is per annum and not per month. If you deduct 10%, you are left with 7.29% per annum.

OgogoroFreak:
if na like that, we for turn billionaires over night oh.

That 8.1% on your 1m na like 6k in the 30days o

ahiboilandgas:
me for retire immediately....

OgogoroFreak:
if na like that, we for turn billionaires over night oh.

[quote author=freeman67 post=76980580]

It's not like that ooo.. Sorry I thought you already know that interstate is per annum (yearly not monthly) so you will have to divide the interest of that Fixed Deposit by 365 (days) or 12(month) before you get actual interest.

Chaiiii?!!
I don dieee.
I think say na month thing o!
9% in 365 day?
Who go do that nonsense sef?!
I will be better off selling bags of pure water.

[quote author=ClitRaider post=76981198][/quote]
Passive vs active.. Your money would be working for you

ClitRaider:

Thanks brothers.
I just left Diamond Bank, the available tenor for TBills starts from 61 days @8.2%.
Meanwhile the bank officer advised me to go for FD for 30 days @ 9%.

I think the latter is better tho.

In terms of rates the 9% FD is actually 8.1% when you remove withholding tax.


meanwhile, I'd like to say that it's exciting to see that we can now chip in some talks, without people raising the 'derailing' alarm.

The whole of page 735 was about I-Invest T-bills, yet I've learnt more from the oil haulage business talks than I did from that page.

I'm not saying we should derail the thread o, but I'm saying once a while, we can have people share experience for us to learn from.

Chekitaut:
With a good insurance policy this will taking care off.

.But the premium may be too expensive.

needful:
Pls is it advisable to put huge amount of money on mmf like Axamansard, stanbic mutual funds?, what organisation regulates this investment houses. I browsed it but couldn't get anything on it. Urgent answer needed pls.

SEC primarily.

ClitRaider:


First 30 days 8.1%, second 30 days 8.1%, that's 16.2% in 60 days.
if I keep rolling over, I will get more than 100% in 365 days.
Baba, na FD I go do.

Yessss now, it's free money.


Take the advice. Read the first 5 pages, and some other pages at random.

luvly4luv:
Good day my people.

I wish to ask if it is possible to give a standing order to my GTB account officer to reinvest my Tbill capital and profit on another Tbill auction after maturity and let it go on for 10 years? Your answers is highly appreciated.
Thanks

.The bank is in the best position to answer this for you.

But I think they should be able to make it work.

awesomeJ:


.But the premium may be too expensive.

Provision need to be put in place. Am not a road master but in our line of Haulage you hardly see or experience truck with Granite in an accident. Our comprehensive insurance policy has always works for us.

kisszhira:


Why all these processes when i can just walk into firstbank in less than 10mins and fill up the form.

But the applying through the app took me less than a minute to apply from anywhere and it has bn working perfectly for me

Chekitaut:
Provision need to be put in place. Am not a road master but in our line of Haulage you hardly see or experience truck with Granite in an accident. Our comprehensive insurance policy has always works for us.

just sometimes, when insurance firms demand 4m per annum on your tanker, if you're insuring the tanker and its content. And you pay 2-3 years without having any accident, it may start feeling too expensive, especially so if you're buying the policy for several trucks.

.

Omonigeriarere:


But the applying through the app took me less than a minute to apply from anywhere and it has bn working perfectly for me

Those who feel disgruntled about their experience with I-Invest are entitled to feel that way.
it's likewise with those who judge it great.

We don't need an argument on it.

awesomeJ:


Those who feel disgruntled about their experience with I-Invest are entitled to feel that way.
it's likewise with those who judge it great.

We don't need an argument on it.

Yes you are right. Nobody is talking against their aparthy for the app, but portraying it in bad light as if its activities are not regulated by SEC and CBN without a simple research seems ridiculous.

Bluecollarguy:
After two unsuccessful primary market Tbill transactions within the last month with GTBank, due to over-subscription and low stop rate, the voice in my head tells me to take a break and NOT trade next week(March 27)...that I should wait and observe the market rate for a little while as opposed to engaging in unsuccessful trades.

Fellas in the house, what do you think? Am I the only one feeling this way? Although I have millions sitting in my savings account, but my attempt to invest it in Tbill has been abortive as of late. What should I do? Your opinion is appreciated!

If not for the voice in your head. I would have told you to compose a mail to their branch and threaten to remove your account from their branch and if possible change account officer... you will see that they will call you fast and offer you secondary market rate that's what happened to me.. they just need a lil craze

ps. The difference betweens pry Nd sec market this days is not so significant

T-Bills Yield Rises to 13.03% Amid Liquidity Squeeze
https://businesspost.ng/2019/03/26/t-bills-yield-rises-to-13-03-amid-liquidity-squeeze/

awesomeJ:

Yessss now, it's free money.


Take the advice. Read the first 5 pages, and some other pages at random.

FD in which Which bank?

Hello house. Just a quick question

What bank(s) currently give the best rates for a 360 day tenure.

NIGHTLIFE100:
The whole of page 735 was all about I-invest whether it’s legit or not, whether to deal with bank or the app. Personally I won’t invest my hard earned money through I-invest but then everyone is entitled to their opinion, with that being said I’ll please advice everyone to ignore further response on it as there’s already enough message here to decide on.

I need public opinion, I have 8m fixed deposit at the rate of 8.5% that’ll mature may 23 but I’ve been contemplating on terminating and add more to invest in treasury bill at the secondary rate of 11.75% my bank already sent the form but my account officer said I’ll loose 25% of my accured interest if I terminate before maturity do y’all think it’s wise to terminate and invest on Tbills or hold to maturity.

Wait till maturity. How many days /tenure are u going for in the secondary market. U have to make a smart and best considering the Capital involved. And lastly, do depend and trust the words of the bankers.