Carmal90:


Ur calculation is wrong 400k can never be 13% of 10 million now

Lanretoye:
nepa bills pays better

Carmal90:


Ur calculation is wrong 400k can never be 13% of 10 million now

bedfordng:
that is because you are using 12 month maturity. if you are leaving it for 91days, then they have to prorate it to the 91days. here Is the simple maths. 13.9x10m divided by 100% is equal to 1390000. now they have to take out the 91days from it since you are not investing for 12month, which is 365days. so they will divide the 1390000 by 365days which gives you 38080.2192. now multiply that by 91days gives you your interest of 346557.95

mantosa:
I dont get your calculations please. 13.9 % of 10M is 1,390,000

Built2last:
Treasury bill pays more at the moment it gives you 13.9% for 90days, 17% for 182 days and 18.2% for 365 days tenor.

Mind you treasury bill pays interest up front. For instance 10million investment for 90 days will give you almost 400k. This you get on the day of the bid and your 10million is returned at the end of the 90days. It's cool money when you have plenty money to invest. Either in the primary or secondary market.
In addition, the interest earned from fixed deposit will be subjected to withholding tax at the rate of 10% while the interest earned from treasury bill is not subjected to withholding tax.

Fixed deposit rate although has a bank rate is largely determined by the branch you entered. The branch will always give you a lower rate because the lesser the interest to you, the more money the branch makes.

The best rate any Nigerian bank will give you on fixed deposit is 12% and that's if you are bringing up to 50million.

Go for treasury bill

Ninewale:



Baba Commander, lol.
It is being pro rated i.e 91days out of 365 days (91/365), 182days out of 365days (182/365). Multiplied by the interest factor

Built2last:


Treasury bill happens every 14 days in a month. Twice in a month. Money market is also good investment platform. You need to research on that

unapologetic:



I bought with Access last week at a rate of 17.2 for 240 days but i heard first bank has the best rate.... first bank seems to also have more positive feedback.

Built2last:
Treasury bill pays more at the moment it gives you 13.9% for 90days, 17% for 182 days and 18.2% for 365 days tenor.

Mind you treasury bill pays interest up front. For instance 10million investment for 90 days will give you almost 400k. This you get on the day of the bid and your 10million is returned at the end of the 90days. It's cool money when you have plenty money to invest. Either in the primary or secondary market.

Fixed deposit rate although has a bank rate is largely determined by the branch you entered. The branch will always give you a lower rate because the lesser the interest to you, the more money the branch makes.

The best rate any Nigerian bank will give you on fixed deposit is 12% and that's if you are bringing up to 50million.

Go for treasury bill

Alajiki:


Yes, he's correct. 13% of N10 Million in a year is N1.3 Million. And since we are talking of 90 days here, you divide 1.3 million by 4. That gives you roughly 400k.

*Modified

It's actually 325k. So, 400k is actually wrong.

Built2last:


Yea...ma mistake ma typo..using my auto type. ...but it pays more.

Carmal90:


Ur calculation is wrong 400k can never be 13% of 10 million now

Omotayor123:
pls. can you educate me on how invest on treasury bill?

Built2last:
Treasury bill pays more at the moment it gives you 13.9% for 90days, 17% for 182 days and 18.2% for 365 days tenor.

Mind you treasury bill pays interest up front. For instance 10million investment for 90 days will give you almost 400k. This you get on the day of the bid and your 10million is returned at the end of the 90days. It's cool money when you have plenty money to invest. Either in the primary or secondary market.

Fixed deposit rate although has a bank rate is largely determined by the branch you entered. The branch will always give you a lower rate because the lesser the interest to you, the more money the branch makes.

The best rate any Nigerian bank will give you on fixed deposit is 12% and that's if you are bringing up to 50million.

Go for treasury bill

blank:
Look for a sound microfinance bank and invest it. They can give you up to 21% for shorter periods.

But make sure it's a sound bank with history so that your money no go loss.

Yazmin:



You are right.

13.9% of N10,000,000

For a 91day tenored bill is about N346,000(plus or minus).

Mind you 13% is the annual rate which should be discounted for 91 days to get the effective rate.

My field....

Iamzik:


Security of your capital is the major and most important consideration here.

Tbill is guaranteed by the federal government. It's difficult to loose your capital unlike xyz MFB

bizhop01:

If Treasury bill pay 13.9% in 90 days
for 10 million investment,how can it be 400k interest?

Electroweb:
Is the treasury bill rate a function of the amount invested or not? Meaning will someone who invests N1,000,000 in treasury bills enjoy the same rate as somone who invests N10,000,000?

Sempumping:

You sabi book

prinsam30:



I'm not really into all these financial brouhaha but after seeing this I think I need to check out this treasury bills, it's like it pays.

currently I'm banking with Gtbank, Access, FCMB, FirstBank and UBA, Pls which of these banks is more reliable thanks in a million