These banks give average of 10% and over on your fixed deposit.

1. Access bank 10.10%

2. Diamond. 10.54

3. FBN merchant. 10.50

4. FSDH merchant. 10.50

5. Nova merchant. 10.40

6. Polaris. 10.12

7. Sterling. 10.17

8. UBA. 10.99

9. Fidelity. 11

10. FCMB. 11.50

11. Union Bank. 12.48

12. Sun Trust. 12.95

13. Heritage. 13.88

14. Keystone. 13.93

15. Unity. 16

Above information will give you heads up so you can negotiate well when next you are going for investment banking transaction.

thanks for the info.
pls is it on monthly or quarterly for the interest.

naijacartoon:
thanks for the info.

pls is it on monthly or quarterly for the interest.

The interest will be paid to your account monthly.

Lamide123:


The interest will be paid to your account monthly.

Thankyou.

Will meet the Unity People for their min and maxs deposit and time frame. Its better than just saving .

naijacartoon:
thanks for the info.

pls is it on monthly or quarterly for the interest.

If you put N1 million into a fixed deposit for 1 year with a interest rate of 10%.

First the bank will remove the N1 million from your account then you will start
to receive 10% interest less VAT on a monthly basis.

At the end of the 1 year your account will be credited with your N1 million

naijacartoon:
thanks for the info.

pls is it on monthly or quarterly for the interest.

Monthly

naijacartoon:


Thankyou.

Will meet the Unity People for their min and maxs deposit and time frame. Its better than just saving .

Let us here the outcome of your meeting with them

I'm not getting it. Like seriously you mean 10% interest to be paid monthly? Sounds too good to be true.

Lamide123:


If you put N1 million into a fixed deposit for 1 year with a interest rate of 10%.

First the bank will remove the N1 million from your account then you will start
to receive 10% interest less VAT on a monthly basis.

At the end of the 1 year your account will be credited with your N1 million

Please what is the minimum amount one can invest in fixed deposits

It's 10% per anum. What he means is that the interest would be paid monthly. That is about 0.833%.

Sapeleboy911:
I'm not getting it. Like seriously you mean 10% interest to be paid monthly? Sounds too good to be true.

elog:
It's 10% per anum. What he means is that the interest would be paid monthly. That is about 0.833%.

I see. Then tbills are still the best for now.

Sapeleboy911:


I see. Then tbills are still the best for now.

What are tbills bro? Please enlighten me.

generalissimo:
What are tbills bro? Please enlighten me.

Read this https://www.nairaland.com/878880/treasury-bills-nigeria

Sapeleboy911:
I'm not getting it. Like seriously you mean 10% interest to be paid monthly? Sounds too good to be true.

10% of your investment will be paid to your account on a monthly basis. For instance if your investment is N1m.
You will get paid interest on that N1 million on a monthly basis. Using December as example
1000000 × 10% × 1 month

1000000 × 10% × 31/365 = N8493

Interest for December will be N8493

tolani4real:

Let us here the outcome of your meeting with them

this is the outcome
the interest rates are not fixed
once you operate on a current rate you remain bound till after maturity
you need to open a fixed deposit account
when you put your main no withdrawal till maturity
the interest is divided by 12months that is one you get per month

naijacartoon:


this is the outcome

the interest rates are not fixed

once you operate on a current rate you remain bound till after maturity

you need to open a fixed deposit account

when you put your main no withdrawal till maturity

the interest is divided by 12months that is one you get per month

Which bank did you visited?

tolani4real:

Which bank did you visited?

diamond and is same across board.

side note

instead of giving bank that 1mil for 12months and get 1mil100k make i use am run animation business and am open for investors in animation business

if you get cash to spare is good

Sapeleboy911:

Read this https://www.nairaland.com/878880/treasury-bills-nigeria

Thanks bra. I found the thread very enlightening. I'm grateful

Banks self....



Open a fixed deposit, they will give you small interest.

But borrow or obtain a loan from them, they will kill you with interest.

You can have access to your money at any time with Fixed Deposit; and your principal will be intact just some fractions of the earned interest will be forgone.

naijacartoon:
diamond and is same across board.

side note

instead of giving bank that 1mil for 12months and get 1mil100k make i use am run animation business and am open for investors in animation business

if you get cash to spare is good