Which Bank gives d highest interest rate on TB . urgent pls. .

.....

Experience4u:
Pls I need help for a friend. He bought Tbills of 3million on April 18 at 12.5% and it's due for October 20 (182 days) and the guy is in dear need of money and 2ants to sale off. Pls how much is he going to lose in this process.

.
About 80k..
It could be more.. Banks are not happy with CBN now o
,

RealityShot:
.
About 80k..
It could be more.. Banks are not happy with CBN now o
,

You dont lose ur capital in T.B, ur interest will be recalculated to the tenur done and dat all,

Can I buy from secondary market on any day, or are there scheduled days like with the primary market?

Seem the new cbn policey is affecting bank my yeye zenith bank accounts officer came to my office to offer 10m consumer loan to the me .....gtb 5 m hmm I suspect the policey is not favourable to them ..i rejected sha i told him a processing bank of industry for lpg stations and truck at 5 percent to 8

tritritri:



You dont lose ur capital in T.B, ur interest will be recalculated to the tenur done and dat all,

You can lose your capital


Penalty or fine for premature termination of your treasury bills will eat into your capital

ahiboilandgas:
Seem the new cbn policey is affecting bank my yeye zenith bank accounts officer came to my office to offer 10m consumer loan to the me .....gtb 5 m hmm I suspect the policey is not favourable to them ..i rejected sha i told him a processing bank of industry for lpg stations and truck at 5 percent to 8

At least it will encourage them to lend to consumers and businesses

Experience4u:
Pls I need help for a friend. He bought Tbills of 3million on April 18 at 12.5% and it's due for October 20 (182 days) and the guy is in dear need of money and 2ants to sale off. Pls how much is he going to lose in this process.

We need to understand our cash flow and have some money in the bank before buying Treasury bills. Having cash at hand is also a strategy.


Or better still you should have staggered the Money you invested into 3 to 4 maturity periods at intervals of 2 to 3 months, so that you won't lose money due to premature termination of your investment.


If the money is needed for business you can borrow against your treasury bill investment, interest rate on such loans are around 15%.

I beg I would like to be your disciple. May your brain continue to function.

emmanuelewumi:




Manage what,. They are the new owners of Mobil Oil, a Google search will help. The transaction was well publicised in the investment community

STOjo:
I beg I would like to be your disciple. May your brain continue to function.

We are together on my WhatsApp group. SMI

How did you calculate it??

RealityShot:
.
About 80k..
It could be more.. Banks are not happy with CBN now o
,

You are right but something big came up and she needs the money to facilitate the move.
What's the calculation model to arrive at a figure she will lose?

emmanuelewumi:



We need to understand our cash flow and have some money in the bank before buying Treasury bills. Having cash at hand is also a strategy.


Or better still you should have staggered the Money you invested into 3 to 4 maturity periods at intervals of 2 to 3 months, so that you won't lose money due to premature termination of your investment.


If the money is needed for business you can borrow against your treasury bill investment, interest rate on such loans are around 15%.

What's the calculation model to arrive at a figure she will lose?
[/quote]

Experience4u:
You are right but something big came up and she needs the money to facilitate the move.
What's the calculation model to arrive at a figure she will lose?

It can be found in the proof of investment letter she got after her treasury bill was successful

emmanuelewumi:




It can be found in the proof of investment letter she got after her treasury bill was successful

Sir , As i said earlier , he won't lose a dam on his capital. they only charge little % on interest . you can reconfirm ,

tritritri:



Sir , As i said earlier , he won't lose a dam on his capital. they only charge little % on interest . you can reconfirm ,

Unless if it just changed, I lost capital on four occasions in 2017 when I did premature termination of my treasury bills to invest in the stock market. After prorating my interest, I was charged a percentage of the fund I invested. I had this experience with First Bank and UBA

emmanuelewumi:





We are together on my WhatsApp group. SMI

Oga I want to learn and make money too. How can I subscribe to the WhatsApp group. Thanks

emmanuelewumi:






Unless if it just changed, I lost capital on four occasions in 2017 when I did premature termination of my treasury bills to invest in the stock market. After prorating my interest, I was charged a percentage of the fund I invested. I had this experience with First Bank and UBA

I had same experience with first bank.

Have you tried Greenwich Plus? Invest amd thank me later

What is the Greenwich Plus Money Market Fund?
Greenwich Plus Money Market Fund is a mutual fund which collects monies from various individuals for the purpose of investing in Treasury Bills of the Federal Government of Nigeria and Bank Deposits of investment grade Banks. The Fund aims to generate income as well as preserve investor capital by diversifying investments across a range of high- quality, short-term debt securities or money market instruments as approved by the Securities & Exchange Commission ("SEC" or "the Commission"wink; and short term debt securities issued or guaranteed by the Federal Government of Nigeria

What do I stand to gain if I invest in the Fund?
• Professional Management: Your investm ent is managed by professional fund Managers • Diversification: You are opportune to invest in a wider array of money market instruments in order to maximize return
• Simplicity: We take the strain that may be associated with direct investment off your hands
• Enhanced Liquidity: Upon request, the Fund is obligated to redeem investments within 5 working-days
• Free and Easy Entry and Exit – Free Exit: You can subscribe into and/ or withdraw from the Fund whenever you want to
• Transparent and Regulated: T he Fund is listed regulated by SEC
• Investor Protection: The Fund’s assets are held by a distinct and separate entity (Custodian) and also monitored by a Trustee and Investment Committee


What are the risks involved?
There is no risk involved in the Fund as the assets of the fund is invested in Bank Deposits and FGN Treasury Bills.

Who can invest in Fund?
Individuals, Groups/ Associations, Institutions; the Fund is open to anyone with a minimum of N 10,000 for investment. It can be used as gifts for newborns, birthdays as well as a child education/ investment/ endowment account.

How do I subscribe?
(i) Simply walk into Greenwich Trust offices, and sign* the Subscription form and attach 2 passport photos and photocopies of investor’s:
• Drivers License/ Bio Data page of your International Passport/ National I.D card
• Utility Bill showing address of the investor
(* signature should be that of the investor or such appointed person that will acting on his/her behalf)


For more info;
Email: adetomiwa.temitayo@gtlgroup.com

xixo:
Can I buy from secondary market on any day, or are there scheduled days like with the primary market?

You can buy from the secondary market any day, your bank will advise you on the rates and tenor available.

Experience4u:
Pls I need help for a friend. He bought Tbills of 3million on April 18 at 12.5% and it's due for October 20 (182 days) and the guy is in dear need of money and 2ants to sale off. Pls how much is he going to lose in this process.

Experience4u:
How did you calculate it??

3m x 12.5% = 475k/yr
For 182days..
475k/364 = 1300\day
..~ 1300 x 182 = 236600

Held for approximately 100 days..
I. e : 1300 x 100 =130000

Therefore, you earned only N130000
And the balance of 236600 - 130000 = 106600
will be removed from the 3m when you are paid.

So you will receive about N2900000 give or take a few thousands...


Note:
Banks like unity bank charge 25% on that interest earned (for premature terminations)
NB.. I used current rates of 10+% for my initial calculations - assuming prorating at current rate occurs that's why I got roughly 80k loss.

tritritri:



You dont lose ur capital in T.B, ur interest will be recalculated to the tenur done and dat all,

I'm following... This is a good place to be

Please those living in diaspora, how did you successfully purchase your treasury bills without being as frustrated as I am right now? This would be my first time not going directly into a bank to buy Tbills. I’ve sent countless emails to FBN without replies. The phone numbers on their websites are land lines which aren’t connecting.

I’ve tried to read a couple of pages but didn’t see anything relating to this hence my question. Please I’m desperate and need urgent replies.

anitank:
Please those living in diaspora, how did you successfully purchase your treasury bills without being as frustrated as I am right now? This would be my first time not going directly into a bank to buy Tbills. I’ve sent countless emails to FBN without replies. The phone numbers on their websites are land lines which aren’t connecting.

I’ve tried to read a couple of pages but didn’t see anything relating to this hence my question. Please I’m desperate and need urgent replies.

I invest with Afrinvest Securities Limited (a subset of the Afrinvest Investment Bank)...they're far more serious, professional and reply my emails on time (sometimes instantly)...don't let those commercial banks frustrate you.

anitank:
Please those living in diaspora, how did you successfully purchase your treasury bills without being as frustrated as I am right now? This would be my first time not going directly into a bank to buy Tbills. I’ve sent countless emails to FBN without replies. The phone numbers on their websites are land lines which aren’t connecting.

I’ve tried to read a couple of pages but didn’t see anything relating to this hence my question. Please I’m desperate and need urgent replies.

Option 1: port to another bank
Option 2: use an alternative channel eg Meristem/Investment One/or another fund manager
Option 3: try a fintech. No human intervention eg I-invest or PiggyVest or tbills.ng
Option 4: give me your money and grant me power of attorney to invest on your behalf

HeliosHay:


I invest with Afrinvest Securities Limited (a subset of the Afrinvest Investment Bank)...they're far more serious, professional and reply my emails on time (sometimes instantly)...don't let those commercial banks frustrate you.

Thank you. I’ve never really had issues with FBN over the years I did treasury bills with them over the counter. But yeah, apparently digital banking is not their thing. Will check out Afrinvest as you suggested and hopefully take it from there. Thanks again

olujaidi:


Option 1: port to another bank
Option 2: use an alternative channel eg Meristem/Investment One/or another fund manager
Option 3: try a fintech. No human intervention eg I-invest or PiggyVest or tbills.ng
Option 4: give me your money and grant me power of attorney to invest on your behalf

I like you

But seriously I love First Bank. Asides the fact that they have a poor customer service that never reply emails which can be frustrating, it’s a very solid bank.

I’ve also thought about I-invest, seems very convenient but I’ll hold off on that till I see more convincing reviews (if I see)

Thanks for your input all the same

How much interest could ₦2million earn me on a 3months tenor on Treasury Bills?

vinzez:
How much interest could ₦2million earn me on a 3months tenor on Treasury Bills?

for example, if 90days rate is 10%

u will earn 50k minus bank charge

anitank:


I like you

But seriously I love First Bank. Asides the fact that they have a poor customer service that never reply emails which can be frustrating, it’s a very solid bank.

I’ve also thought about I-invest, seems very convenient but I’ll hold off on that till I see more convincing reviews (if I see)

Thanks for your input all the same

GTB/Stanbic/Access/zenith are also solid.

olujaidi:


GTB/Stanbic/Access/zenith are also solid.

I agree with you.
I also bank with GTB and Access, but sincerely from experience their rates aren’t as good as FBN