I dont believe in the bank of a thing. I am a business consultant. I will advise you put your money in something else than FD most especially properties. I have good location for profitable properties in a good city outside Lagos. The next Lagos like city (Ilorin). You can contact me on lakrem_330@yahoo.com if you are interested. If you are afraid of taking risk, kindly go for FD but mind you all investment has its own risk.

Well it depends on ur risk tolerance and investment horizon, what i mean is how long u have got and whether or not u r ready to take risk. Some suggest bonds which provide higher yields (interest) but i must warn u they have got higher rist too, it depends on the worthiness of the companies bond u r buying, whether the bonds r secured or not (backed by some asset incase of default), and how liquid the bond market is(in case u wana sell the bonds and get ur money back), so consider all these.

But based on my limited knowledge of nija mkt, i will go for the FD, coz i dont even trust the FG T-bills which r suppose to be riskless, and besides they say u can negotiate rates foe FD which is good. Also try to check the cash flow statement of any bak u wish to buy the FD from, especially the the cashflow from operation and see if they have been having positive cashflows in the recent years otherwise, dont put ur money in them, if u have any question e mail me at yabarikilanle@yahoo.com

@frenchman,

u nid to go to the bank to get their rates for all sums. it varies a lot.

zenith's rates are higher than those of UBA from my experience. however, zenith's rate has been reducing almost every month or so.

HI ALL,

whats the fuss about? im sure alot of us is conversant with the term "THE HIGHER THE INCOME THE HIGHER THE RISK" and vice versa for the lower part, comon people, that u get 16.5%, be glad, do u know what they call pool rate? do u realize if i give you 16.5 i will be running at a loose cos pool rate is 16%.

take your 14 million and dump it in a bussiness and see what your expense will be before the month end!!

lets not mix it up, FD is for funds you dont have a prsssing need for or something like that, please dont expect a billion on N1m

Really, you can't make money from FD. To me, it's design for those who doesn't know what to do with their money at a given point in time.
If i have a million naira. I will invest in fish/meat-selling business. I will start importing meat from botswana to nigeria and will make a hell of money. FD is a lame source of money, it doesnt even worth knowing the interest rate of banks.

Our firm pays a Guaranteed intrerets rate of 20% pa on any amount invested. Minimum investment ti start with is 50k and minimum tenure of investment is 90days.This is real deal. for further details or enquiry, please call me or email martojms@yahoo.com, 012216203

Hi guys, it all depends on hw you look at it, for FREE(nothing to do with it at the moment) 1m i will prefer FD. 1m for me to be expecting returns i would rather invest elsewhere meanwhile pls do nt say stocks is no go area pple are still making money there likewise forex all you need is discipline n knowlegde . One bad things about us 9ja is ABILITY TO MANAGE SUCCESS, sori we dont have it.

Diamond bank gave me 12% on 550k.I get around 5k every month.

20% Guaranteed Return on Investment: to get the application form and product brochure, send me an email so I could forward to you.

Regards

martojms@yahoo.com

Fraud and fraudsters too plenty for our country. Even for nairaland the number of people who have been defrauded by fraudsters is alarming. Like others have said, if you want your money safe with reasonable returns, fix with a reputable bank and there will be no story. What they promise is what you will get (GTB, FirstBank, Diamond, Standard Chartered etc). Better than risking your money with faceless people on Nairaland giving you yahoo addresses and promising you unbelievable returns. As my papa always dey talk, 10% of something is better than 90% of nothing. Better keep your money safe and do not be deceived by the fraudsters on this website. Shine your eyes my people.

FD ma ass, so, so many things u could do with your money though the environment portends some risk but there are one million and one
business out there waiting to be tapped where you can earn a minimum of 20% on investment per month. just look around.

See FD account as where you keep ur money for a purpose nd not investment per se.

"But on the other hand, i understand one can get 3% per month if it is SAVINGS. This means one can get  up to N30,000 in a month on N1ml"

Bros there is NO way u can get N30,000 on 1m, A MONTH on a deposit,be it fixed or savings,  IN ANY BANK.
Take it from me, I've worked in a bank,and done negotiations on fixed deposits,  Its just highly impossible. Even the manager of the branch cant get that amount even if he gives himself the highest CBN rate approved for 1m.

E-book, Y-book, Z-book, Forex book etc. All na fraud. All these fraudsters who keep giving mobile numbers and email addresses must think honest people on Nairaland are stupid. My advice to those abroad who want to have some money at home is to do business with family and friends that you trust instead of FACELESS FRAUDSTERS on Nairaland. These fools will promise heaven and hell just to make you send money to them. Me I no like long story, I no dey greedy and I no be mugu, so my 10 million dey siddon for GTB at 14%. I no need 20% from frauudsters with yahoo address. Me sef I get email address. It is mugumustchop@yahoo.com

, MUGUMUSTCHOP,

is dat the device that generated N10m that u fixed with GTB?

@roforofo. I hope it doesn't mean the same as Lagos dirt. Anyway that aside, I wish to know if you defrauded by these so called fraudulent nairalanders. Becos I just joined the forum and I believe it to be a kind of think thank for people concerning any topical issue online, but this your assesment of nairalanders as a fraudulent set of online, realtime scammers makes me think twice. I deal in AGO and I had cause to call a guy up from nairaland who said he had a particular qty to sell, but the info he gave me was false. I quickly called him up to berate him. I believe what the forum is all about is to help individuals get due diligence and from there they wiil be better positioned to make the most informed decision. Your post is good in the sense of being a fraud alert but, my guy you generalise too much.

The jury can still decide on this

@Bamshow. Abeg no vex. Of course the majority of people on Nairaland are NOT scammers. Also the majority of our fellow Nigerians are NOT scammers. However there is a significant minority of Nigerians and faceless posters on Nairaland who are scammers. Whenever someone posts asking for advice on investments, these idiots smell money and instead of posting an honest and public reply they start talking thrash and promising 20%, 40% and 60% returns if you contact them directly. I just find it irritating that these misfits hijack threads and start dishing out their email addresses and mobile numbers hoping someone will send their hard earned cash to them. There is another thread on Nairaland listing many people who have lost money to these scammers. I have not been scammed and I certainly will never contact anyone I do not know. As I have stated earlier for those of us abroad, either do business with family and friends you trust or deal directly with a reputable company in Nigeria. The money I have fixed with GTB pays 343K ever 3months. I know some people will say I am foolish to simply fix with GTB, however GTB always pay on the date they promise and my capital is secure (No story ). The account can also be operated fully online from abroad. They only pay 14% but abeg I want peace of mind and security with a safe and reputable bank. I be 32 year old and na Naija I go secondary school so I no be mugu. My eyes dey shine well well , so all stupid scammers who dey plot and plan, like Abami Eda talk, dead body get accident, yepaaa, na double wahala for una!!!

>>> poster, I have always thought of success as having a job, home, car, and a secure investment which will add to my income flow. based on the knowledge I gained in my QS classes, real sector tops the list of viable investment, followed by securities(stocks, shares, bonds), then fd. my choice of investment is fd just cos of the liquidity and level of risk(low), if you don’t have a stable income and you are thinking of getting immediate returns from the 1m, then fd is not the best option. You could start a medium scale business. rates are negotiable you can get as high as 15% with some banks(p.a)
Good luck

Abelicious. Thank you for a honest and very sensible post. It is posts like yours that will benefit the original poster. This is what we need instead of all the scammers claiming to sell e-book, y-book and x-book!!!

@roforofo I know the interest offered on fixed deposit is "chicken change" for some people on Nairaland but for me it is ok. I have 10 million fixed with GTB at 14% and I get paid about 343,000 Naira every 90 days. I know some will say with "e-book, forex trading, malu trading, diesel trading and haulage business" I will get much higher returns. However I am not interested in high returns. I live in the UK and I just wanted to keep money safely in my country so that I can earn reasonable returns and use the interest whenever I am visiting Nigeria without needing to ever carry forex from here when I am visiting Naija. It is also easy with GTB to manage your accounts online from abroad and make payments to family members in Nigeria in Naira without ever needing "Moneygram or Western Union".

i will go with you 100% on this.let the money earn residual income for you and be at peace .the bank does all the work while you are getting paid for that.Nice idea

Roforofo:

I know the interest offered on fixed deposit is "chicken change" for some people on Nairaland but for me it is ok. I have 10 million fixed with GTB at 14% and I get paid about 343,000 Naira every 90 days. I know some will say with "e-book, forex trading, malu trading, diesel trading and haulage business" I will get much higher returns. However I am not interested in high returns. I live in the UK and I just wanted to keep money safely in my country so that I can earn reasonable returns and use the interest whenever I am visiting Nigeria without needing to ever carry forex from here when I am visiting Naija. It is also easy with GTB to manage your accounts online from abroad and make payments to family members in Nigeria in Naira without ever needing "Moneygram or Western Union".

Buddy you speak wisdom. I trade on forex and have been very successful at it. I even had to scale down drastically my other commitments so as to give full concentration to it. However, I'm an ardent believer of having a portfolio of investments scattered across different vehicles. Fixed deposit is good based on the objectives. Stocks inspite of its recent global tanking is equally very rewarding based on the objective and investment savvy of the investor. Those who know better are already positioning as stocks are cheap now and will definitely rally when the economy jerks.
I particularly like the reason for your opening this FD

@Roforofo, Quite appreciate your response, "Eniyan buruku ti ba eniyan rere je'' according to Obey. Until there is a reorientation from the top and a change in value system from get money at all cost syndrome, Nigeria will still battle with this attitude of scammers and frauds spoiling the good works of others. I honestly dont think you are foolish as being able to accumulate the amount of money and make it work for you in whatever investment portfolio you have can only be a trait of a success driven mind.
Life is not a one way street but rather a Highway where each has to locate his/her own lane and direction and keep at it otherwise changing lanes can yield unsavoury consequences not only to the person but potentially to those around. So my brother, I really have respect for your decision, Just dont stop investing.
Take good care of yourself in this winter season.

12.5% for 2M from GT Bank

@Bamshow, Tonjoan, Whatalife, Abelicious and Timmi. Thank you all for your concise, honest and practical advice to all forum users. This is what we need on Nairaland. I wish the moderators had a way of blocking out the miscreants who keep giving out their UNWANTED email addresses and phone numbers trying to SCAM people with "e-book, y-book and x-book". Thanks once again guys. Hope all our investments are safe and successful in the New Year.

The only money i will advice anybody to put in FD is money set aside for a paricular project in the future. This is to ensure the safety of the money, but when it comes to investment, business, real estate and securities are the ultimate.

Its easy to get all sorts of advise at this time when you have money and not knowing where to put it,you can easily lose it at this period.I advise if you are not business minded,dont even think of business.Dont be greedy,whereever you choose to put it think of the legal backing,I choose you fix it in an FD with a reputable bank like first bank,and dont consider Microfinance bank at all,even if they promise you high interest.Then read financial books to see if you can do better.

Oboms. Thanks for an excellent post. As you have so clearly stated the point is that people have different attitudes to risks and rewards. I personally have most of my earnings and investments in the UK because I live and work here full time. I put 10 million in a GTB fixed deposit because I go back home To Naija once a year and I really do not have the time to supervise a business there. GTB has NEVER failed to pay the agreed interest and as others here have stated they are an excellent bank. Their online payment system is fantastic and I can make secure instant payments to relatives in Naija from anywhere in the world. Thanks again for your reply.

In as much as shares are no go area i'll suggest properties. Any good investor should consider buying to renovate and then lease, you'l always get good returns especially in lagos. ANYONE INTERESTED IN PROPERTIES/LANDS either buying, selling or lease can reach me

I think the reason why people get duped is because they are greedy . Fixed deposit in 9ja is for u if u have plenty money /are scared of investing in businesses in an unstable environment / if u just dont know what to do with the money . Better dont be decieved 10% for 1mill is a good deal in fact very good and banks do not pay 3% per month interest rate is per annum. Any bank that offers you more is most likely doing this at a loss . Think about it how much do banks get as interest on their own funds ? how much is their interest on loans they give out and then they'd still have to pay their staff , I think 9ja is one of the countries dat pays the highest interest rates and thats because IN THE NAME OF COMPETITION BANKING HAS TURNED INTO PEPPER SELLING , NO REGULATIONS N WHEN THERE IS THEY ARE BEING IGNORED . Beware of all those telling you to email them for 50% return on investments oooo , haba wouldnt they have been billionaires by now . look into properties and bonds and things .

Timehin:

In as much as shares are no go area i'll suggest properties. Any good investor should consider buying to renovate and then lease, you'l always get good returns especially in lagos. ANYONE INTERESTED IN PROPERTIES/LANDS either buying, selling or lease can reach me(HUMANITAS HABITAT & MUSE CO.) on +234 8055327922, 8088018078. Email:sogbajimi@yahoo.com

Nobody will send you any money. Stop wasting your energy on FRAUD!!