Ureeee:
Fixed deposits are great, the onus lies in finding out the banks that offer the best rates. Research has shown me that investment houses offer better rates than banks, so when next you are in the bank that has an investment subsidiary like UBA Capital in UBA or FBC in First Bank, ask to see the investment team and get clarification, most of these front desk officers lack product awareness

sammiewayo:
dude,
visit FBN or FCMB update accordingly


thanks

ernie4life:


I totally agree with you, investment houses offer higher rates.
tbills are cool trust me, in fact am bidding tomorrow but it has its own short coming. fixed deposit are more flexible than tbills, what I mean is this, I can fix my money today and tomorrow an urgent issue may come up, all I need do is walk to my investment houses and instruct them to liquidate it and give me back my money and it will be done, Yea the may charge me preliquidation charges but it's on accrued interest meaning my capita is still intact.
but Tbills is different not all banks/investment house will agree to buy my tbills at a discount.

Secondly fixed deposit offers you short time investment unlike tbills which has a minimum tenure of 91days, fixed deposit has a minimum tenure of 30days.

So always consider all this before you decide where to put your money.

Seun:
Fixed deposit accounts are a waste of your time.
Treasury Bills have better rates and are also less risky.
https://www.nairaland.com/878880/treasury-bills-nigeria

Elai147:

Check the following threads: https://www.nairaland.com/768325/what-bonds-how-invest-nigerian https://www.nairaland.com/1167218/how-invest-federal-government-bonds

ernie4life:


I totally agree with you, investment houses offer higher rates.
tbills are cool trust me, in fact am bidding tomorrow but it has its own short coming. fixed deposit are more flexible than tbills, what I mean is this, I can fix my money today and tomorrow an urgent issue may come up, all I need do is walk to my investment houses and instruct them to liquidate it and give me back my money and it will be done, Yea the may charge me preliquidation charges but it's on accrued interest meaning my capita is still intact.
but Tbills is different not all banks/investment house will agree to buy my tbills at a discount.

Secondly fixed deposit offers you short time investment unlike tbills which has a minimum tenure of 91days, fixed deposit has a minimum tenure of 30days.

So always consider all this before you decide where to put your money.

austine4real:
bro my banks said dey dnt knw anytn abt it. Even firstbnk said FBNcapital are only usin dia name 4 biz.
So by nxt wk i use my 52k 2 buy fone.

channelz:
lol@fone
You give up easily or what? Unless you plan to trade forex or something with the new phone

austine4real:
i dnt wnt forex

channelz:
what I meant was how do you intend to make an asset of your alternative- a fone...

jaybee3:
The phone is still an asset albeit a depriciating one

channelz:
ok

channelz:
what I meant was how do you intend to make an asset of your alternative- a fone...

austine4real:
i b usin it ni

channelz:
You've gat cash flow ni... carry on

gunuvi:

Yea, I don't do fixed deposit again, treasury bills all the way.

9jatatafo:

Can you put me through where to get the treasury bills?

channelz:
like you I'm also making enquiries

9jatatafo:

I am seriously looking nice business to start with in a little way and later grow it. That is the dream

channelz:
That is it- A nice, on-the-ground, offline venture. Have you got any in mind yet?

9jatatafo:


I am thinking of setting up a biz for printing customized jerseys and t-shirts but my worries is my location and my kids as I don't want to go too far from them. I am so considering trading.

channelz:
Business is all about buying and selling.

9jatatafo:


Forget all these grammar, if you have any idea share please

9jatatafo:

I am thinking of setting up a biz for printing customized jerseys and t-shirts but my worries is my location and my kids as I don't want to go too far from them. I am so considering trading.

tinkinfela:
I wrote Zenith bank to ask about their fixed deposit interest rate and got this response.

Fixed deposit rates:

TENOR AMOUNT RATE PER ANNUM
30DAYS 1M 4%
60DAYS 1M 4%
90DAYS 1M 3.25%

Someone please confirm if this is standard rate or there are far better rate elsewhere or maybe I should try to negotiate for more?