Got debited today... 16.10% for 182 Days with UBA... Not So Bad

freeman67:



Modified

The next auction/bidding date is 20th october, 2016

Please what's d range of amount one can bid how can one bid?

michael03:

Am happy for u bur which bank did u use nd wot was ur bid? I bidded 18% wit wema bank

diamond bank. 17% for 182 days

Got debited by stanbic @17% for 182 days.

bisiki2:

Just received debit alert from GTB. Rate was 17.54% for 364 days

Do they accept 100k bids

Matcruz:
my bid was successful with First Bank.... 13.7% for 91days ....my interest was credited today..... thanks to all the gurus in the house..... you've all really contributed in one way or the other to this successful bid coz I knew nothing about Tbills in the last ten days.

Congrats..When did you put in your bid.

gory24:

Congrats..When did you put in your bid.

last week Friday

When is the next auction. And which bank is advisable

Please I need clarification, does GTB charge custody fee as 0.1% of your interest or is it 0.1% of the amount u bidded with?

Missiniubs:
Please I need clarification, does GTB charge custody fee as 0.1% of your interest or is it 0.1% of the amount u bidded with?

Someone should answer ooo. Missiniubs, have u been debited and if yes did u go with the bank rate or yours?

please house, anyone used Eco bank / has been paid interest?

Missiniubs:
Please I need clarification, does GTB charge custody fee as 0.1% of your interest or is it 0.1% of the amount u bidded with?

From my calculation, the custody fee is 0.1 % on the principal less commission. i.e principal - commission X 0. 1 %

bisiki2:


From my calculation, the custody fee is 0.1 % on the principal less commission. i.e principal - commission X 0. 1 %

Okay, thanks

Mentholated:
Someone should answer ooo. Missiniubs, have u been debited and if yes did u go with the bank rate or yours?

Yes I have been debited and I used my own rate.

Ugmama:
please house, anyone used Eco bank / has been paid interest?

. I would like to know how this turns out.

Annalise:
. I would like to know how this turns out.

Annalise whatsup? you later bid in Eco bank? i did X for 364 @ 17.8%

Ugmama:


Annalise whatsup? you later bid in Eco bank? i did X for 364 @ 17.8%

No I didn't o. I was not prepared.

Annalise:

No I didn't o. I was not prepared.

oh! well you can still participate in the upcoming one. This time be prepared dear

@house hi guys what's treasure bill and what are u guys bidding and I can also 17% I need something like this to guarantee my cash if someone can pls elaborate don't mind

Please guys I'm new on this forum, I really appreciate what you guys are doing here.

But I have a little problem....3 months ago I invested on t-bill and I used the bank rate. And I only got 20,000 for the one million for 3 months which to me is very low. But i want to invest another 2 million. Please which bank has the best rate?

Ekpokhia:
Please guys I'm new on this forum, I really appreciate what you guys are doing here.

But I have a little problem....3 months ago I invested on t-bill and I used the bank rate. And I only got 20,000 for the one million for 3 months which to me is very low. But i want to invest another 2 million. Please which bank has the best rate?

That is about 8%., are you sure the bank did not Invest your money in fixed deposit.
Which bank did you use?

manie:



That is about 8%., are you sure the bank did not Invest your money in fixed deposit.
Which bank did you use?

I used zenith bank

Ekpokhia:



I used zenith bank

Rates were poor a few months back. They started going up sometime in June. No bank has the monopoly of excellent rates

olujaidi:


Rates were poor a few months back. They started going up sometime in June. No bank has the monopoly of excellent rates

Rates were very poor in the first quarter of the year.

But the guy in question invested about 3 months ago, earning 20k for his 91 days N1 million investment.
I doubt if his bank actually bought Treasury Bill for him.

manie:


Rates were very poor in the first quarter of the year.

But the guy in question invested about 3 months ago, earning 20k for his 91 days N1 million investment.
I doubt if his bank actually bought Treasury Bill for him.

Rates started to climb in the middle of July- following the lifting of the currency peg. At that time, it was unexpected. So even the banks bidding might not have forseen the jump. Plus, these high rates are part of the strategy to attract FDI.

olujaidi:


Rates started to climb in the middle of June- following the lifting of the currency peg. At that time, it was unexpected. So even the banks bidding might not have forseen the jump. Plus, these high rates are part of the strategy to attract FDI.

even @ that, its still pretty low, even a 3% return which i guess should be at worst will still give him a 90k return, even a 1% still give him 30k return, as maine said it wasnt TBILLS. its something else

Ekpokhia:
Please guys I'm new on this forum, I really appreciate what you guys are doing here.

But I have a little problem....3 months ago I invested on t-bill and I used the bank rate. And I only got 20,000 for the one million for 3 months which to me is very low. But i want to invest another 2 million. Please which bank has the best rate?

You know what? Go through this thread to the time at which you invested to find the rates of CBN at that time and the rates that contributors to this forum were given. That way, you'll know if it was what was obtainable at that time

olujaidi:


You know what? Go through this thread to the time at which you invested to find the rates of CBN at that time and the rates that contributors to this forum were given. That way, you'll know if it was what was obtainable at that time

The rate spike happened on the 20/21st July bid.

He most probably bought from the secondary market at that rate since his was in June. All in order I believe.

Hello house, am new in here but been reading this post ferventy, I finally decided to take the plunge and invest in Tbills with GTB for 91 days. I didnt specify the rate I wanted but i no just understand the math wey GTB do. Pls anyone who invested thru GTB for 91 days should enlighten me because I don't even know what percentage they bidded for, what their fee is and how dey do dere calculations. Thank You.
I also want to know which percentage is used for calculating the interest?, is it the CBN percentage or the percentage that the bank used to bid?

I need someone to pls put me thru on this Tb investment...
Thinking abt my funds in the bank and not even getting anything on the money for the past 1year that I've left it there is so annoying...
Pls help me invest by putting me thru on how Tb works and what steps to take...
Thanks

HazzanTazzan:
I need someone to pls put me thru on this Tb investment...
Thinking abt my funds in the bank and not even getting anything on the money for the past 1year that I've left it there is so annoying...
Pls help me invest by putting me thru on how Tb works and what steps to take...
Thanks

Its simple as visiting you bank and filing out the TB form or instructing your account officer thru mail to invest a certain amount from your account (usually) above 100k in any of the given tenures; 91days(3months); 182 days(6months) or 364 days(12months).
You can either go with the bank rate or quote your preferred rate. The rates vary based on tenure. Again the interests are prorated based on the tenure and you get paid upfront, while the bank deducts the discounted value, but upon maturity your full amount gets credited back to your account. A couple of other charges apply as well, like custodian fee and commission on interest.
Read the last three pages here to get idea of the prevailing rate, then quote one or two points below to be on the safe side, or glean rate from gurus here.
The stop rate for the last bid 91 days - 13.9% 182 days - 17.09% 364 days - 18.25%
Again take time to scan thru the pages here to get more insight on NTB.

Happy investing.