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Nairaland Forum / Nairaland / General / Investment / Mutual Funds (1008615 Views)
Top 10 Mutual Fund Managers In Nigeria / Mutual Funds In Nigeria: Please Share Your Experience / Best Nigerian Mutual Funds To Invest In? (2) (3) (4)
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Re: Mutual Funds by Etimocracy(m): 5:40pm On May 07, 2019 |
DAVIDOLAWALE: Its simple arithmetic. S.I=PRT/100. In this case the Principal (P) is 450k, interest rate (R) is 13, time is (1) year. Subsequently divide ur result above by 365 (total days in a year) to ascertain the interest inflows per day. I hope I've expounded more on this. Furthermore, multiply #162 by 30 days, the result is what u ought to receive per month. 3 Likes |
Re: Mutual Funds by DAVIDOLAWALE: 8:09am On May 08, 2019 |
Thank you all for your wonderful response i will visit one of the stanbic ibtc branch to do the needful. |
Re: Mutual Funds by reservd(m): 9:20am On May 08, 2019 |
r4blessing:That is so untrue, y spread false stories, I'v been wit fbnquest since 2015, my subscription gets into my acct same day as long as I make d deposit bfr 12noon, my redemption have always come on d 3rd day after requesting counting frm d day I requested, I dnt hv any ish wit dt as it has been stated it takes 3 to 5 working days to credit ur account. I request fr acct stmt via email to their customer care and I get it within the hour, this has been my experience fr over 4yrs Now, I dnt Knw whr u got ur own experience frm 1 Like |
Re: Mutual Funds by reservd(m): 9:25am On May 08, 2019 |
Emedu:Even if u mail ur proof of payment to them late, as long as u made d payment early in the day, ur acct still gets credited same day u made d payment irrespective |
Re: Mutual Funds by reservd(m): 9:36am On May 08, 2019 |
Etimocracy:Ur calculated days included weekends, is dt right? |
Re: Mutual Funds by 234ng44uk(m): 10:53am On May 08, 2019 |
reservd: I can barely understand what you wrote but I think you mean to say FBN offers same day subscription but redemption takes 3 days. Like I said, I don't know about redemption because I'm yet to redeem. Even at that, 3 days isn't a gold standard as there are assets managers that offer same day redemption. Your same day funding experience is yours. Mine took 2 days to fund and interest payment didn't commence until the 3rd day. Meaning that my fund was idle for 3 days despite funding from their edge app. That is my experience. Don't come here to tell us another person's experience is lies, how much commission are you getting? Some of us have no alliance with any fund manager, we're just laying the facts bare. Instead, tell us what you've done differently that made your funding same day. Did you pay by bank transfer rather than app for instance? |
Re: Mutual Funds by reservd(m): 11:42am On May 08, 2019 |
234ng44uk:Brother, I told u I have been wit them for 4yrs Now and I dnt know what u mean by how much I'm been paid. I have laid down my own experiences with them. I pay by bank deposits and scan d slip via email to their customer care. If d payment was made in the morning, ur allocation wil surely b done same day. As for redemption, it was stated dt it takes 3-5 working days to do so, so whoever isn't fine with dt shldnt go near them. Yours taking more than a day to fund, is it ur initial deposit or subsequent, u need to specify dt. Mind u I dnt hv any alliance with any fund manager, I started by mailing all my docs to them and all my business wit them has been by mail, I hv never ever visited first bank as far as my mutual fund acct is concerned, all my correspondences are via emails over these yrs, I hv never met anyone in person 2 Likes |
Re: Mutual Funds by 234ng44uk(m): 11:56am On May 08, 2019 |
reservd: Then it would be a good idea to try payment by bank deposit/transfer and see if paying from their edge app caused the delay. I'll try this and update the house. |
Re: Mutual Funds by reservd(m): 12:16pm On May 08, 2019 |
234ng44uk:Whr u hv name of depositor, write ur mutual fund acct no/ur name for quicker funding 3 Likes 1 Share |
Re: Mutual Funds by Damilola72(f): 12:32pm On May 08, 2019 |
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Re: Mutual Funds by Damilola72(f): 12:36pm On May 08, 2019 |
Please am trying to pay into my Stanbic IBTC mutual funds with the application,I don't know how to go about it...I will appreciate a step by step help |
Re: Mutual Funds by kendsage(m): 12:36pm On May 08, 2019 |
Yea. Everyone's experience with FBNquest is different so it wont be appropriate to say someone else's experience is a lie.Please let us respect each other as we are all here to learn and improve. I use FBNquest and each time I fund my account via bank transfer, I takes not less than 2 days before the money reflects and value commences same day the money reflects. Besides, I send mail with evidence of transfer to their customer service and account officer immediately after the transfer is made, still the money wont reflect until after a day or two. I think FBN needs to improve on that. I have not done redemption with FBNquest but the 1st quarter dividend took 4 days before it hit my current account. Generally, I am okay with FBNquest given the high interest rate which is very critical for me. 234ng44uk: |
Re: Mutual Funds by afroxyz: 12:54pm On May 08, 2019 |
Damilola72: make a payment into the Stanbic MMF account (9202476223). Screenshot your proof of payment Go to www.stanbicibtcfundsmanagement.com Log using your mutual fund account details Go to the menu and click "upload proof of payment " fill the form and submit an OTP would be sent to you. Enter the OTP. follow the steps 2 Likes |
Re: Mutual Funds by 234ng44uk(m): 12:57pm On May 08, 2019 |
kendsage: You quoted the wrong person. We said basically the same thing, that funding takes at least 2 days with FBN Quest and no interest is paid for all days the fund is left idle. Someone claim this is a lie because he has been using them since 2015 and he always get same day funding. |
Re: Mutual Funds by yungestmoney(m): 1:58pm On May 08, 2019 |
Hello guys, between FBN & Stanbic, which would u recommend as best considering 1. customer care service 2. Interest rate 3. Deposits & redemption 4. Reinvestment. Ur opinions will be highly appreciated. |
Re: Mutual Funds by 234ng44uk(m): 4:02pm On May 08, 2019 |
yungestmoney: |
Re: Mutual Funds by reservd(m): 4:09pm On May 08, 2019 |
r4blessing:Sorry abt the first line of my initial response to ds post, my experience with them is just different from urs, jst ignore pls |
Re: Mutual Funds by DBestDoc(f): 5:18pm On May 08, 2019 |
reservd: I think that was his initial deposit. I mean the first deposit he made after creating his account. Subsequent ones will be faster. |
Re: Mutual Funds by DBestDoc(f): 5:23pm On May 08, 2019 |
temi4fash: Hahaha. You do have one, but you don't know. 2 Likes |
Re: Mutual Funds by cybertek(m): 5:32pm On May 08, 2019 |
I have this issue with this error on fbn edge. My bvn is ok dont know why I have the error
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Re: Mutual Funds by Yem0350: 8:48pm On May 08, 2019 |
kendsage:My account get credited same day each time I made payment before 2pm For redemption via app, it is either I get it that day or the next day. That has been my experience so far. 2 Likes |
Re: Mutual Funds by Yem0350: 8:51pm On May 08, 2019 |
cybertek:Contact them via email |
Re: Mutual Funds by cuteyangel(f): 10:03pm On May 08, 2019 |
1. customer care service: Definitely not stanbic 2.Interest Rate: FBN 3. Deposits & redemption: Stanbic 4. Reinvestment: Definitely not Stanbic I have an Investment account with Stanbic and i have had a horrible experience while opening another. However, the deposit and redemption that doesn't require you to interact with anyone is on point. 1 Like |
Re: Mutual Funds by Etimocracy(m): 10:48pm On May 08, 2019 |
Just2endowed2: Definitely yes! I use the app whenever I wanna redeem. Its been hitch free so far with the app. 1 Like |
Re: Mutual Funds by Just2endowed2(m): 7:59am On May 09, 2019 |
Etimocracy: That's true.... Took just 2 days and I was created. |
Re: Mutual Funds by Damilola72(f): 10:41am On May 09, 2019 |
afroxyz:Thanks 1 Like |
Re: Mutual Funds by Eghuan01: 7:27pm On May 09, 2019 |
Etimocracy: Please how long did the redemption take? |
Re: Mutual Funds by senit(m): 10:07pm On May 09, 2019 |
234ng44uk:i also got my calculations towards what you have work down but to my surprise this is what am getting |
Re: Mutual Funds by temi4fash(m): 11:13pm On May 09, 2019 |
senit: Blank out the part where your name is.... |
Re: Mutual Funds by freeman67: 12:02am On May 10, 2019 |
senit: How many days is that interest for? If it's one day then I can say they just did it to woo you... Because I have an account with a little above and I don't get upto that.. Next time just try and crop the screenshot to reveal only the amount principal and interest... Your other details are not needed. 1 Like |
Re: Mutual Funds by rOsy247(f): 5:37am On May 10, 2019 |
I will like to know if opening up the money market fund in ibtc bank attracts extra charges compared to opening it online. I just paid in yesterday |
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