I currently have 500k idling in my diamond hida account and I have no immediate need for the money, @least not in the next 6mnths.

Plss friends how best can i invest this fund? I thought about fixed deposit but the interest rate is not so encouraging.

I know a lot of peeps may also be in the same dilemma as myself, so let's share our ideas.

Cc Seun lalasticlala ishilove

Invest it on me and you won't be disappointed...

Tie it down in treasure bills with First Bank (they offer a good interest rate 9.75% last time I checked). The interest is not much if you look at it, but its money earned while you do nothing and it has a very low risk factor

You can trade with it.

Godmother:
Tie it down in treasure bills with First Bank (they offer a good interest rate 9.75% last time I checked). The interest is not much if you look at it, but its money earned while you do nothing and it has a very low risk factor

I guess the 9.75% is for 3months and that rate isn't fixed but still a good idea anyway atleast slightly higher than fixed deposit.

Eyop:


I guess the 9.75% is for 3months and that rate isn't fixed but still a good idea anyway atleast slightly higher than fixed deposit.

Seems like a nice idea. Though FCMB offered me 10% for fixed deposit last week. But then, you did have to factor in tax unlike with treasury bill.

Eyop:
You can trade with it.

Expantiate pls

Ogatitus:


Seems like a nice idea. Though FCMB offered me 10% for fixed deposit last week. But then, you did have to factor in tax unlike with treasury bill.

10% for 500k fixed deposit looks good to me because that's 25,000 for 6months but this tax issue is what i don't know how that will be calculated. However,if you don't want to trade with the money,you can do treasury bills like the other lady suggested. Fixed deposit can even go more than that if the amount you intend to fixed deposit is much. You cannot expect the bank to offer 10% to someone fixed depositing 100million

Ogatitus:


Expantiate pls

Buying and selling.

Buy a six month treasury bill. Go to your bank first thing tomorrow morning so you can participate in this week's auction. Good luck.

Seun:
Buy a six month treasury bill. Go to your bank first thing tomorrow morning so you can participate in this week's auction. Good luck.

pls, how much can one expect in return as profit?

jammyunn:
pls, how much can one expect in return as profit?

For 500k, I guess about thirty-something thousand naira or so. And it's tax free.

You can invest in some other fixed income instruments @ 2% monthly. I have been doing it for 7yrs now. U can PM me if interested...