Kindly share the banks you know that have better interest rates if one is planning to do a fixed deposit of 100k and above with.

Thanks in advance for your contribution(s).

whyniel:
Kindly share the banks you know that have better interest rates if one is planning to do a fixed deposit of 100k and above with.

Thanks in advance for your contribution(s).

first bank.

Climaths:
first bank.

Thanks a lot.

Climaths:
first bank.

Pls what's their rate?

I'm still open for more opinions people.

Thanks in advance.

Following. .Pls share rate too

Roseey0:
Following. .Pls share rate too

I visited a first bank business office and was offered 7.5% on investment for 30/60days while stanbic ibtc gave me 8%/9% for 30/60days rsp.

Rate is investment dependent and banks' branch rate which differs per banks / branches.

I still plan visiting another firstbank business office and gtbank too a finalise on where to invest.

whyniel:


I visited a first bank business office and was offered 7.5% on investment for 30/60days while stanbic ibtc gave me 8%/9% for 30/60days rsp.

Rate is investment dependent and banks' branch rate which differs per banks / branches.

I still plan visiting another firstbank business office and gtbank too a finalise on where to invest.

Isn't this rate dependent on the amount invested? Pls kindly clarify.

whyniel:
Kindly share the banks you know that have better interest rates if one is planning to do a fixed deposit of 100k and above with.

Thanks in advance for your contribution(s).

Guy carry yout money go T bills. Its risk free and better rates

whyniel:
Kindly share the banks you know that have better interest rates if one is planning to do a fixed deposit of 100k and above with.

Thanks in advance for your contribution(s).

Check for T bills thread under investment section. Okay?

OCTAVO:

Isn't this rate dependent on the amount invested? Pls kindly clarify.

Yes, rate is dependent on amount invested.

I have no bargaining right cos of the principal I'm investing which is below a million more reason why I'm still hopping from banks/branches to another and vice versa.

A customer beside me while making enquiry was offered 12% for 60days tenor for a 50mil principal which he declined cos he already had a better rate from FCMB according to him.

SpeedyConnect:
Check for T bills thread under investment section. Okay?

Those guys don't reply PMs.
I don't know anything about T bills.
I'll try and make enquiries tomorrow though. Thanks.

whyniel:


Those guys don't reply PMs.

I don't know anything about T bills.

I'll try and make enquiries tomorrow though. Thanks.

Guy there is nothing there. Just open that thread under investment section and read some pages.
Also google it and put Nigeria in your search, there is an article to that effect there.
Mind you, most people that work in banks know nothing about it.
Nigerian professionals are damn incurious.

SpeedyConnect:

Guy there is nothing there. Just open that thread under investment section and read some pages.
Also google it and put Nigeria in your search, there is an article to that effect there.
Mind you, most people that work in banks know nothing about it.
Nigerian professionals are damn incurious.

Thanks sir. I've checked some pages and the problem now is getting the useful information and tips from the bank.

Do you know any investment house you can recommend please?

Be careful with your money...

alphizo:
Be careful with your money...

Thanks sir.

whyniel:


Thanks sir. I've checked some pages and the problem now is getting the useful information and tips from the bank.

Do you know any investment house you can recommend please?

Seems the easiest are banks. Just tell them you need T bills. They are likely to direct you to a person that know about it in that branch. Talk with the person. At times, they might want to give you from theirs but it comes with lower rates.
Just be making inquiries as you go on.
Cheers.

But
I have developed a trading strategy that generates at least 15% weekly profit on ROI rate on investment.
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whyniel:


I visited a first bank business office and was offered 7.5% on investment for 30/60days while stanbic ibtc gave me 8%/9% for 30/60days rsp.

Rate is investment dependent and banks' branch rate which differs per banks / branches.

I still plan visiting another firstbank business office and gtbank too a finalise on where to invest.

I know of first bank Which is 10%. I fixed 1M for 30days only to yield 24k in which they will remove 2kplus for tax. Its only enjoyable when u have huge amount of cash to fix. A Friend of mine fixed 10M for a year and it yield 1.4M interest.

ehisdan:
I know of first bank Which is 10%. I fixed 1M for 30days only to yield 24k in which they will remove 2kplus for tax. Its only enjoyable when u have huge amount of cash to fix. A Friend of mine fixed 10M for a year and it yield 1.4M interest.

I'm not sure this information is right. 24k is 10% interest on 1 million for 30 days?
Am I missing something??

@octavo
u spoke my mind

@ehis
pls can you explain
thanks

@ehisdan
pls can you explain the calculations involve ?
thanks

ehisdan:
I know of first bank Which is 10%. I fixed 1M for 30days only to yield 24k in which they will remove 2kplus for tax. Its only enjoyable when u have huge amount of cash to fix. A Friend of mine fixed 10M for a year and it yield 1.4M interest.

This didn't add up

10percent of 1m pa = 100k

U get 100/12 = 8,333 per month

There was a mistake pls forgive. Its actually for 90days that is to yield 24k. How they calculate it is what I don't know.

I will like u to visit fidelity bank, they have another form of fixing cash Which yields handsome amount. But the capital will be untouchable.

ehisdan:
I will like u to visit fidelity bank, they have another form of fixing cash Which yields handsome amount. But the capital will be untouchable.

Please do explain how this works. Thanks!

Cobresal:

Please do explain how this works. Thanks!

I don't really know how it works the last time I went there(3months ago) there agent tried to lure me into it but I refuse. I later asked one of there manager which he confirmed to be true and new.

Land is the bank with highest interest rate for fixed deposit. Just look for a good location, you can make between 100% to 500% interest rate in one year.Remember that there is no hidden charges, CBN policies, changes in banks rules and regulations, poor annual performance index, etc.

But avoid scam related land oo, family land, buying land without proper checks in a hurry, too cheap land, always verify ownership and do re verification over and over, confirm ownership, verify document with necessary authorities before payment.

ehisdan:
I know of first bank Which is 10%. I fixed 1M for 30days only to yield 24k in which they will remove 2kplus for tax. Its only enjoyable when u have huge amount of cash to fix. A Friend of mine fixed 10M for a year and it yield 1.4M interest.

You guys didn't do your negotiation well.

Rate increase based on tenor and amount (> 1mil).

One thing i've learnt is to avoid isolated bank branches, branches close to busy places tends to have better rates based on negotiation.

Guys shine your eye, nigeria is now becoming like cyprus now where all forex broker dominated. While cannot too invest your money in forex market. Nigeria banks can only give you 10% to 12% of your fund per annual (per year) while FX market will pay you 10% to 20% per month.

If you invested 1m on FX per month you still get up to #100k to #200k per month. What you just need, is to be careful when choosing FX trader that will handle your fund. If you see any trader that promise you more than 25% per month it means he/she is going to risk more than 10% of your fund into FX meanwhile not more than 2% of Equity should be risk to market per trade.

Note: Professior of Forex (Andreas) is now in Nigeria giving seminar at FXTM office at Ikeja now. Shine your eyes guys forex is real hoooooooo.

Anyway if you need more information about this just contact me on my email address: sonnyshow@yahoo.com

ehisdan:
There was a mistake pls forgive. Its actually for 90days that is to yield 24k. How they calculate it is what I don't know.

Ok it is beta nw

10percent of 1m pa is 100k ie 12months tenor

For three months tenor = 100k/4 = 25k

Tax n other charges brought it to 24k

Nw u kw hw