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I Need Help On Bank Investments - Investment - Nairaland

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I Need Help On Bank Investments by ogunholla(m): 2:07am On Jun 08, 2018
Hello everyone, for some time now, I have been thinking on what kind of investment I can venture into which will give a long term dividend, and for a while now I have been researching on banks investment. Fixed deposit has been on my mind hence my reason for opening this thread. I have a couple of questions;
1) can I open several fixed deposit in different banks?
2) can I convert a savings account to a fixed deposit account?
3) what bank has the highest and best interest rate for fixed deposit in Nigeria?
4) is there any risk involved?
5) is there any difference between FIXED DEPOSIT ACCOUNT and FIXED RATE DEPOSIT?
And lastly is there anyone here with information on Treasury bills?

Thanks as you reasonably reply.

Cc lalasticlala dominique MrKnowitall
Re: I Need Help On Bank Investments by greatnaija01: 2:12am On Jun 08, 2018
RUN FROM BANKS.

1 Like

Re: I Need Help On Bank Investments by cardoso514: 3:43am On Jun 08, 2018
Go buy Treasury Bills, it gives you peace of mind
Re: I Need Help On Bank Investments by Fxmanager(m): 6:47am On Jun 08, 2018
ogunholla:
Hello everyone, for some time now, I have been thinking on what kind of investment I can venture into which will give a long term dividend, and for a while now I have been researching on banks investment. Fixed deposit has been on my mind hence my reason for opening this thread. I have a couple of questions;
1) can I open several fixed deposit in different banks?
2) can I convert a savings account to a fixed deposit account?
3) what bank has the highest and best interest rate for fixed deposit in Nigeria?
4) is there any risk involved?
5) is there any difference between FIXED DEPOSIT ACCOUNT and FIXED RATE DEPOSIT?
And lastly is there anyone here with information on Treasury bills?

Thanks as you reasonably reply.

Cc lalasticlala dominique MrKnowitall
We have created a currency portfolio management service where we manage your currency investment portfolio to grow with a target of an average monthly return of 10%+ to investors after deduction of performance fees. Check our profile signature and visit our website in it for more details. Check the image below for our communication channels.

Re: I Need Help On Bank Investments by ogunholla(m): 10:14am On Jun 08, 2018
greatnaija01:
RUN FROM BANKS.
can you please give reasons why I should?
Re: I Need Help On Bank Investments by ogunholla(m): 10:15am On Jun 08, 2018
cardoso514:
Go buy Treasury Bills, it gives you peace of mind
can you put me through on this please?
Re: I Need Help On Bank Investments by polimaf(m): 10:54am On Jun 08, 2018
ogunholla:
can you put me through on this please?
I support Tbills and Fg bonds... those banks won't give you good ROI. I've tried them before not going again
Re: I Need Help On Bank Investments by Oceannaagent: 11:14am On Jun 08, 2018
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Re: I Need Help On Bank Investments by freeman67: 11:33am On Jun 08, 2018
As for the investment.. It depends on the amount you have to invest, the interest/profit margin you are looking at, your risk appetite /the level of risk you can take and tenure/duration you intend to invest.

If you can take high risk.. You can invest in stock market. Apart from profit that you can get from increase in share prices you, sometime get dividend at financial year end of the company you invest depending on the company.. but beware that it's very volatile the same way capital appreciate is it can depreciate.. Some be sure you learn the art before committing your money.

However if you are risk averse, you can consider FG Bonds, FG Savings Bond, Treasury Bill and Mutual Funds.

Answer to you questions... From my personal opinion is that;
1. Fixed Deposits account does not exist separately like normal Savings and Current account. You don't go to open a fixed deposit account except if you want to open a normal account and commit it solely to fixed deposit. All you need if you intend to fix money is to approach a bank if you already have an account with them and money is inside or you request to open an account if you do not have an account with the bank. After that, you transfer or deposit money in it.. Then bank will move the so you would not be able to access till you deposit tenure expire before they refund it with your interest.

2. Like I said you can fix money from any account.. You do not need to open any new account except you have none before..

3. Interest rates are mostly dependent on the amount of money involved, the bank and the bargaining power of the intending customer.. So you may have to visit the branches of banks where you reside to confirm that..

4. The risk involved is not much especially if its commercial banks and the branch is vibrant. Issues could only come up if it liquidate.. But note there rate are most time below the investment I listed above.. The only advantage is the easily assessable nature of it. .. Not Micro Finance banks oooo because some of them can be dubious.

5. I do not think there is any difference...


For information on Treasury Bills you can read as much as you can form the thread in the link below.
Reading from page 0 will give you the proper explanation without have to ask any question because almost all the necessary questions have been asked.
The recent pages/pages at the will just update you on current happenings https://www.nairaland.com/878880/treasury-bills-nigeria

Good luck.
Re: I Need Help On Bank Investments by ogunholla(m): 1:46pm On Jun 08, 2018
freeman67:
.
Thanks for this great insight. God bless
Re: I Need Help On Bank Investments by princejewel(m): 4:10pm On Jun 08, 2018
ogunholla:
Hello everyone, for some time now, I have been thinking on what kind of investment I can venture into which will give a long term dividend, and for a while now I have been researching on banks investment. Fixed deposit has been on my mind hence my reason for opening this thread. I have a couple of questions;
1) can I open several fixed deposit in different banks?
2) can I convert a savings account to a fixed deposit account?
3) what bank has the highest and best interest rate for fixed deposit in Nigeria?
4) is there any risk involved?
5) is there any difference between FIXED DEPOSIT ACCOUNT and FIXED RATE DEPOSIT?
And lastly is there anyone here with information on Treasury bills?

Thanks as you reasonably reply.

Cc lalasticlala dominique MrKnowitall

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Re: I Need Help On Bank Investments by omobaba101(m): 3:00am On Jun 17, 2018
Will you like to be a shareholder in a school?
Re: I Need Help On Bank Investments by Nobody: 6:24pm On Jul 13, 2018
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Re: I Need Help On Bank Investments by bizinvestment(m): 8:14pm On Jul 13, 2018
ogunholla:
Hello everyone, for some time now, I have been thinking on what kind of investment I can venture into which will give a long term dividend, and for a while now I have been researching on banks investment. Fixed deposit has been on my mind hence my reason for opening this thread. I have a couple of questions;
1) can I open several fixed deposit in different banks?
2) can I convert a savings account to a fixed deposit account?
3) what bank has the highest and best interest rate for fixed deposit in Nigeria?
4) is there any risk involved?
5) is there any difference between FIXED DEPOSIT ACCOUNT and FIXED RATE DEPOSIT?
And lastly is there anyone here with information on Treasury bills?

Thanks as you reasonably reply.

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Re: I Need Help On Bank Investments by haully: 8:43pm On Jul 13, 2018
Op would be glad if you can loan me 500k from the money, would pay back in four months time with interest.

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