tgbaba:


Even though interest rate is sure and you are sure o ur money @ the end. I wonder why this ppl tae customer or a ool by charging 2Opercent interest on money loaned, while giving them this ur calculation o interest on ixed deposit ater the money ixed deposit matures.

its a business. How do u expect them to make money. U buy at 10-12% u sell at 20%. Or is it a charity

emperoracro:
I don't know how anyone in his right mind will go and fix a sum of money below #1M as fixed deposit, when there are several other ways of increasing ur money. FD pays very low interest. On 500k, u will get less dan 6K for 2months, wen one can get over 70k investing in other tins. Treasury bill is better,but still no worth it to me, and Equity is quite risky cos most Nigerian company are shrouded in secrecy.

U dont ve to b insultive b4 u giv explation on any issue, anyone is free to even fixed 100k. U can only suggest beta investment opportunity for such pple. (Without u telling them anyone in his right sense, oh dats to much)

duni04:
10% in 365 days??! When you can make10% in 1 day on equities. Only really ignorant people still subscribe to fixed deposits.

pls could you enlighten me in details how this equities work. Thanks

naijacutee:
Last month, I happened upon some money from an old investment which had matured. Rather than have it collect “one one naira” in my standard savings account, I decided not to be the fly that follows the corpse to the grave, and put it in a fixed deposit. Fixed deposits are a very popular investment option in Nigeria, and you’ll hear about them 8 times of out 10 if you do happen to ask for advice regarding how to invest money. The attraction to this sort of investment is that returns are guaranteed, and the duration of your investment is flexible. We probably like this sort of investment because they help us mitigate risks – in a country where nothing is guaranteed, we don’t tend to tie money down in long term investments and fixed deposits are the perfect solution to this investment problem. In the course of my search for a decent return on my investment, I “burnt” at least N5,000 in credit, calling banks and waiting in queues for information, and was only able to reasonably compare two banks – GTBank and First Bank.

What is a fixed deposit?
A fixed deposit is a lump sum deposited with a bank for a varying period, in exchange for interest.
How to put your money in a fixed deposit: You will need to have an existing account with the bank of your choice, and then you deposit the sum into this account. You will then need to inform your bank of your intention to “fix” the said sum for “X” number of days. It is very important that before you make your decision, that you shop around for the best rates. You are not obliged to fix your money with your existing bank, just because you bank with them. You can earn a significantly higher amount by just picking up the phone. It is the more difficult route when you consider call waiting times, credit spent etc but it is worth it, and what’s more I have done some of this hard work for you.

How long is my money fixed for?
Most banks offer flexible periods of 30 days, 60 days, 90 days, 180 days and one year.

How do I get paid?
Usually, the money is removed from your account and the interest is paid into your account. So for example, you want to fix N500,000 for 60 days and the bank has offered you an interest rate of 7%. You have N550,000 in your account. Once you confirm you’re making the arrangement and sign all the necessary documentation, the N500,000 “disappears” from your account to be “fixed”. At the end of 60 days, you get paid back your original N500,000 + an additional N35,000 interest accrued. A simplified version of what really happens behind the scenes is that the N500,000 is given to another customer who has asked for a loan – but he will be charged 20% interest (or N100,000). After 60 days, you get back your N500,000 + N35,000 (7% interest from the other customers N100,000). Not bad business for banks, if you ask me.

Bank interest rate comparisons
For my enquiries, I called First Bank and GTBank.
I rated both banks on customer service quality (pet peeve of mine, because time is money) and interest rates.
tbankvsfirstbank

Interest rates
First Bank
7 days (First bank does not offer this service)
30 days – 9.25%
60 days: 9.50%
90 days: 9.75%
365 days: 10%
GTBank
Available from N100,000 to N1m.
7 days – 3.75%
30 days – 180 days : 6.25%
Some notes:
Call times. My initial contact with both banks was on a Friday afternoon, at about 5.30pm. My second contact attempt with GTBank after the first one proved futile was at 3.20pm on a Sunday.
Omissions. I initially wanted to include Accessbank in this exercise, but have been unlucky in getting through to a knowledgeable person on customer service. The frontline staff I have spoken to, all seem to lack basic knowledge regarding what services their banks offer and where to get information outside the limits of their knowledge. I would recommend that training is provided for all front line staff as a matter of urgency, as customers otherwise have no way of getting informed about competitive rates for your most lucrative services.
Am I an agent? I work for neither of these banks. My selection of this two is purely by chance and accessibility of contact information via the bank websites. I simply picked the banks with the most prominent contact information via websites. My reviews are unbiased, and if I haven’t reviewed any others yet, don’t worry – “life is turn by turn”.

Courtesy: http://www.mrpepe.com/banking/which-is-the-best-account-for-a-fixed-deposit-gtbank-or-firstbank/

Confirmed wrong info ooo.

This one sounds more like wonder bank ooo.

Which bank will pay you 35k on 500k for 60days, haba naaa

duni04:
10% in 365 days??! When you can make10% in 1 day on equities. Only really ignorant people still subscribe to fixed deposits.

Shine your eye, shine your eye well well.....singing old Daddy showkey song....

Me equity, hahaha....if I hear equi....before the ty complete, I don jaa...Abeg ooo, FD is safer than equity oooo, in business maths, they will teach you that the higher the risk, the higher the returns and vice versa.

Caracta:
Besides, these rates depend on negotiations. They are not fixed. I look at how much you are bringing in and the duration.

Again, these rates are not fixed. We only have fixed limits or benchmarks. Get your facts right.

It doesn't seem like the OP is to blame. May be the customer service personnels should get down to doing their work properly. They should know to give the 'right facts,' and I'll say relevant, complete and concise information, to all customers and prospective customers.

aspirebig:



Confirmed wrong info ooo.

This one sounds more like wonder bank ooo.

Which bank will pay you 35k on 500k for 60days, haba naaa

The information is not entirely wrong, it's the computation that is wrong. Ednut1 already clarified that.

PLEASE I AM TRYING TO PULL THE DAILY TRADES FOR JUNE - JULY ONCE I CAN GET THEM I WILL POST THEM THANK YOU

bear this in mind the stock market and the financial services market is a market which depends and relies heavily on information about happens from the regulatory bodies to inflationary trends and other financial jargons - please for you to make the best of the market you require a high degree of information - which any broker can offer you- people make losses and they also make gains - the only thing is, try and make more gains then your losses - ask DANGOTE AND OTEDOLA, OBAOTUDEKO et al....



Share Price List for 12 Dec,2014
Symbol Security Opening Price Closing Price
7UP 7-UP BOTTLING PLC 153.85 153.85
ABCTRANS ASSOCIATED BUS COMPANY PLC .57 .57
ACADEMY ACADEMY PRESS PLC 1.13 1.13
ACCESS ACCESS BANK OF NIGERIA PLC 6.13 6.13
AFRINSURE AFRICAN ALLIANCE INSURANCE COMPANY PLC .50 .50
AFRIPRUD AFRICA PRUDENTIAL REGISTRARS PLC 2.70 2.74
AGLEVENT A.G.LEVENTIS(NIGERIA) PLC 1.31 1.31
AIICO AIICO INSURANCE PLC .77 .77
AIRSERVICE AIRLINE SERVICES AND LOGISTICS PLC 1.75 1.81
ASHAKACEM ASHAKA CEMENT 24.60 24.60
BERGER BERGER PAINTS NIGERIA PLC 8.55 9.00
BETAGLAS BETA GLASS COMPANY (NIG) PLC 24.30 24.00
CADBURY CADBURY PLC 40.86 40.86
CAP CAP PLC 36.22 36.22
CAVERTON CAVERTON OFFSHORE SUPPORT GRP PLC 3.17 3.17
CCNN CEMENT COMPANY OF NORTHERN NIGERIA 9.27 9.27
CHAMPION CHAMPION BREWERIES 6.93 6.93
CILEASING C & I LEASING PLC .50 .50
CONTINSURE CONTINENTAL REINSURANCE PLC .89 .88
CORNERST CORNERSTONE INSURANCE PLC .50 .50
COSTAIN COSTAIN WEST AFRICA PLC .88 .88
COURTVILLE COURTVILLE INVESTMENTS PLC .50 .50
CUSTODYINS CUSTODIAN AND ALLIED INSURANCE PLC 3.28 3.44
CUTIX CUTIX PLC 1.30 1.30
CWG COMPUTER WAREHOUSE GROUP PLC 4.34 4.34
DANGCEM DANGOTE CEMENT PLC 150.11 160.00
DANGFLOUR DANGOTE FLOUR MILLS PLC 4.84 4.84
DANGSUGAR DANGOTE SUGAR REFINERY PLC 5.42 5.42
DIAMONDBNK DIAMOND BANK PLC 4.61 4.89
DNMEYER DN MEYER PLC .87 .87
ENAMELWA NIGERIAN ENAMELWARE PLC 31.82 31.82
EQUITYASUR EQUITY ASSURANCE PLC .50 .50
ETERNA ETERNA PLC 3.11 3.11
ETI ECOBANK TRANSNATIONAL INCORPORATED 18.19 18.21
ETRANZACT E-TRANZACT INTERNATIONAL PLC 2.55 2.55
FBNH FBN HOLDINGS PLC 8.80 8.63
FCMB FCMB GROUP PLC 2.84 3.00
FG102016S1 13.05% FGN AUG 2016 98.80 98.80
FIDELITYBK FIDELITY BANK PLC 1.52 1.50
FIDSON FIDSON HEALTHCARE PLC 3.25 3.09
FLOURMILL FLOUR MILLS PLC 43.73 43.73
FO FORTE OIL PLC 219.95 207.58
GLAXOSMITH GLAXO SMITHKLINE CONSUMER NIG. PLC 52.00 52.00
GUARANTY GUARANTY TRUST BANK 22.00 22.49
GUINEAINS GUINEA INSURANCE PLC .50 .50
GUINNESS GUINNESS NIGERIA PLC 129.06 122.61
HONYFLOUR HONEYWELL FLOUR MILL PLC 3.20 3.10
IKEJAHOTEL IKEJA HOTEL PLC 3.80 3.81
INTBREW INTERNATIONAL BREWRIES PLC 26.00 26.00
IPWA IPWA PLC .50 .50
JAPAULOIL JAPAUL OIL & MARINE SERVICES PLC .50 .50
JBERGER JULIUS BERGER PLC 60.66 60.66
JOHNHOLT JOHNHOLT PLC .98 .98
LEARNAFRCA LEARN AFRICA PLC 1.47 1.47
LIVESTOCK LIVESTOCK FEEDS 2.33 2.33
LOTUSHAL15 LOTUS HALAL EQUITY ETF 9.28 9.28
MANSARD MANSARD INSURANCE PLC 2.90 2.90
MAYBAKER MAY & BAKER NIGERIA PLC 1.54 1.54
MBENEFT MUTUAL BENEFIT ASSURANCE PLC .50 .50
MCNICHOLS MCNICHOLS PLC 1.48 1.48
MOBIL MOBIL OIL NIG. PLC 151.05 151.05
MRS MRS OIL NIGERIA PLC 56.00 56.00
MULTIVERSE MULTIVERSE RESOURCES PLC .50 .50
NAHCO NATIONAL AVIATION HANDLING COMPANY PLC 4.24 4.24
NASCON NATIONAL SALT COMPANY PLC 6.29 6.29
NB NIGERIAN BREWERIES PLC 148.02 145.59
NEIMETH NEIMETH INTERNATIONAL PHARMACEUTICALS .86 .86
NEM N.E.M INSURANCE CO. PLC .59 .59
NESTLE NESTLE FOODS PLC 812.97 775.00
NEWGOLD NEWGOLD EXCHANGE TRADED FUND 2,144.00 2,144.00
NPFMCRFBK F MICRO FINANCE BANK PLC .85 .85
OANDO OANDO PLC 17.90 17.07
OKOMUOIL THE OKOMU OIL PALM 25.37 25.37
PAINTCOM PAINTS AND COATINGS MANUFACTURES PLC 1.47 1.47
PORTPAINT PORTLAND PAINTS AND PRODUCTS NIG. PLC 4.75 4.75
PRESCO PRESCO PLC 25.59 25.59
PZ P.Z. INDUSTRIES PLC 30.78 30.78
REDSTAREX RED STAR EXPRESS PLC 4.00 4.00
ROYALEX ROYAL EXCHANGE ASSURANCE .54 .54
RTBRISCOE R.T BRISCOE NIGERIA .82 .82
SEPLAT SEPLAT PETROLEUM DEVELOPMENT COMPANY LTD 324.83 324.83
SKYEBANK SKYE BANK PLC 2.45 2.33
SOVRENINS SOVEREIGN TRUST INSURANCE PLC .50 .50
STACO STANDARD TRUST ASSURANCE PLC .50 .50
STANBIC STANBIC IBTC HOLDINGS PLC 28.50 28.50
STERLNBANK STERLING BANK PLC 2.36 2.32
THOMASWY THOMAS WYATT PLC .76 .73
TOTAL TOTALFINAELF NIGERIA PLC 156.00 158.00
TRANSCORP TRANSNATIONAL CORPORATION OF NIG PLC 3.20 3.05
UAC-PROP UAC PROPERTY DEVELOPMENT CO. PLC 10.20 10.20
UACN U A C NIGERIA PLC 38.00 38.00
UBA UNITED BANK FOR AFRICA 4.29 4.08
UBCAP UBA CAPITAL PLC 1.59 1.60
UBN UNION BANK OF NIGERIA 7.61 7.60
UNILEVER UNILEVER NIGERIA PLC 35.00 34.01
UNITYBNK UNITY BANK PLC .50 .50
UPL UNIVERSITY PRESS PLC 3.88 4.05
UTC UTC NIGERIA PLC .50 .50
VETGRIF30 VETIVA GRIFFIN 30 ETF SECURITIES 14.23 13.82
VITAFOAM VITAFOAM NIGERIA PLC 3.85 3.85
VONO VONO PRODUCTS PLC .87 .87
WAPCO LAFARGE AFRICA PLC 70.42 72.98
WAPIC WEST AFRICAN PROVINCIAL INSURANCE PLC .57 .57
WEMABANK WEMA BANK .96 1.00
ZENITHBANK ZENITH INTERNATIONAL BANK PLC 17.50 17.25
Showing 1 to 105 of 105 entries


sorry i tried to retabulate it but it did retabulate for clarity.....

olajide8:

GTB paid share holders N4 of recent - and that's it's interim dividend payment- nestle about N12 shares owned the list is endless - but because you want to buy share you purchase Daar communication or japaul and you come here and say the capital market this, the capital market that - without investment advice And you were complaining the market crashed- when you were supposed to stay their- and allow the foreign investors pull their funds dumping stocks in your laps, but no you followed them to sell - yes you would loose- and that's because you know more then us- get investment advice before you invest at most it would cost you a CSCS account opening

God no go let me near DAAR communication shares in the next 3 years...

paulohgirlie:

U dont ve to b insultive b4 u giv explation on any issue, anyone is free to even fixed 100k. U can only suggest beta investment opportunity for such pple. (Without u telling them anyone in his right sense, oh dats to much)

Madam with all due respect if u dnt understand what am driving at, kindly stay clear off my posts ok? U av no right watsoever telling me am insultive!

Here comes a new Ad classified site has wide variety of location in respective of your State I dont even believe my eyes when I saw my own area gan gan on this dear sites with features of no charges on the trade going on there... And the greatest features here is that You can make money with this site (which u can you msg me here to have the info)
So what are you waiting for Palz http:///7004 and start using this mind blowing platform today....

Caracta:
Besides, these rates depend on negotiations. They are not fixed. I look at how much you are bringing in and the duration.

Again, these rates are not fixed. We only have fixed limits or benchmarks. Get your facts right.

Depends on the bank as well. GT can give up to 7.5 as well

Caracta:


You can fix for a year and give an instruction for it to be rolled over at maturity, either principal only or principal + interest. It can go on for as long as you want. It's risky though. Just be sure it's not a bank that can disappear .

Good thing is, you have the option of terminating your investment at any time, You just get to lose 20% of the accrued interest. Your principal would still be intact.

Caracta.

Can any Nigerian bank still disappear?
I thought with the recent 25 billion recapitalization, all our present banks are strong.

letsdothis5:



Caracta.

Can any Nigerian bank still disappear?
I thought with the recent 25 billion recapitalization, all our present banks are strong.

Skye bank acquired Mainstreet bank recently. Nothing is impossible.

Caracta:


Skye bank acquired Mainstreet bank recently. Nothing is impossible.

Oh I see. Thanks then.

korel9:
@ Op, nice thread but no hating intended. Don't you think I'll earn more than that rate if I invest my money in a quick business within d 30days period?

,

Tanx for bn a fast thinker. Bt which is that other fast biz u r referring to here?

Hello, everyone. Could someone please explain something to me? Does interest rate on fixed deposit change along the way? Say, the interest rate is 10% at the time of fixing, but the prevailing rate slipped to like 9% along the line before the end of the tenor.

Has anyone considered microfinance bank's fixed deposits? They pay high interest on deposits, you can get as high as 15% per annum on N1million for 60,90 and 120 days. The more money you fixed, the higher the interest rate. MFB's are now doing well as they are strictly regulated by CBN.

I have some friends that are enjoying good rates with Lovonus Microfinance Bank Ltd, located at Iddo Ultramodern shopping complex Iddo, Lagos.

I also hear Asset Matrix Microfinance Bank Ltd located on Herbert Macaulay road, Oyingbo also gives a good rate.

You can check their website for info.

Everyone has Money problems. If you want to make yourself rich, solve problems, then look for an opportunity that can help you solve the money problems.

Money, they say answers all things, how true! Probably one could say enough money can go a long way in solving a problem because money is actually meant to solve problems.

If you want to be rich, your goal has to be rich. Not just enough to pay the bills and not just enough to be comfortable. Rich people’s big goal is to have massive wealth and abundance. Rich people are unwavering in their desire, they are fully committed to creating wealth. They will do whatever it takes to be rich as long as its moral, legal and ethical.

Remember, your wealth can only grow to the extent that you do! The idea is to grow yourself to a place where you can overcome any problem that get in your way of creating wealth, and keeping it once you have it.

To be able to create wealth, you must be an aggressive investor. You must have the mind of making money and also the capacity to absorb loss. In the financial world, as in most other arenas, risk is directly proportional to rewards, generally the higher the reward, the higher the risk.

People with rich mentalities are willing to take risk. You have to do something, buy something, or start something in order to succeed financially. You have to see opportunities for profit all around you instead of focusing on ways of loosing money. Do not let fear control your life forever or what hope is there for your ultimate happiness.

It is a proven fact that investment is the secret key to wealth. For you to eat the fruit of your labour, you must first sow your seed of labour. The secret of receiving money is first letting go of the little you have.

f you think wealth is measures by the amount of money owned by a person, then wait and see what investment can do to your asset profile. Investment is the name of the game and your worth can only be measured by it. The day you start investing right, you begin to take the first steps out of poverty and the kind of investment you do determine your rate of movement towards wealth.

Saving and investing are some of the fastest way to the top, and saving is just the first step of the ladder of investment. But any money that stays too long in savings account will catch up with inflation except that savings has a guaranteed return. No matter how wealthy or poor you are today, your condition tomorrow will only be determined by your today’s savings and investment.

A poor man can have money but because he lacks the ability to reproduce it he remains poor. This lack of information limits a poor man. Poverty is not lack of money but information required to replenish it.

For you to sustain wealth you must multiply it more than the rate at which you are producing it. All you need to do sow your seed and the law of multiplication will take over. Remember, it is not the money but your ability to reproduce it or multiply it as the case may be, until money is release, it can never do work.

Money principle for building your future is quite simple steps to follow. The road to true riches is not a big debate. Make investment a habit. You have to sacrifice what you want now for what you must need latter. Let your thinking on money be a drive for you to do work on how to get it.

Have you heard of Manorbeam Consult? As an active participant in Manorbeam Consult along with many friends and contacts I can safely say it has been the most relaxed way of getting investment advice in the microfinance bank sector of the economy.

Get Richer With Every Sunrise
(Monday-Friday)
Compounding is available,
contact: manorbeamconsult@gmail.com
Phone: 08111656656