NL1960:


We have an ex-banker as CBN governor. So he will be looking for ways to favour his former constituency. Did you see how he resurrected COT in the name of 'Account Maintenance Charge'?. What i know of account maintenance charge in other places is a fixed amount charged on your account at the end of every month and not a percentage charge on any debit that goes into the account.

lol, sure we can see how the banks revenue are still on track. thanks to the freedom they have in the forex market granted to them by their oga at the top, emefiele

feelamong:
TREASURY BILLS UPDATE, 1/03/2017

91 DAYS ---13.65%

182 DAYS --- 17.20%

364 DAYS -----18.4965%

Oga Feelamong, please what will be the true yield for 18.28%. Thanks

I guess the real question is..
How is true yield calculated??
Is there a formula?

bendo75:


Oga Feelamong, please what will be the true yield for 18.28%. Thanks

*.

Houstency:
Has anyone been debited for 364days tenor with Stanbic bank? I went with bank rate. Would just wait till close of work on Friday and check them up on Monday if no debit and credit alert.

I just got a debit alert for my 182 days tenor from Stanbic. I went with bank rate.

Some of us are talking about investing with 100k and now they are saying this. Please what's the way forward?Dont want to do the bond

ernie4life:


refer to this thread to know more about MMF

https://www.nairaland.com/1912965/mutual-funds

thanks.

Happyfellow147:
Some of us are talking about investing with 100k and now they are saying this. Please what's the way forward?Dont want to do the bond

lol, someone said we should start selling recharge card instead... and I agree.

unite4real:


interest is per annum so 13,600 is interest of 1 year. since the investment is for 91 days, it means it is for a quarter of 1 year. so divide 13,600 by 4 and you get 3,400.

thanks.

NL1960:


I also did 182 days with Stanbic and went with bank rate but yet to be debited.

you can contact the customer care, I was initially debited the face value, now I've gotten the interest upfront. patiently waiting for maturity. though it's a small interest but far better than ponzi scheme, thanks to everyone that has contributed to this thread so far , hope to learn more.....

olujaidi:


Please read the posts and discussion subsequent to that one

thanks, someone already posted a link.

What's d minimum amount for fixed deposit?

bmdflo:


you can contact the customer care, I was initially debit the face value, now I've gotten the interest upfront. patiently waiting for maturity. though it's a small interest but far better than ponzi scheme, thanks to everyone that has contributed to this thread so far , hope to learn more.....

I have posted before this your post that i have gotten alert for the debit. I went with bank rate. I was debited the discounted amount as my face value was initially placed on hold. From my Simple Interest knowledge, iam calculating a rate of 17.14 for 182 days tenor. Not bad.

Oga you follow me see wahala o. Abeg the ogas In the house, come to our assistance please. We are just trying to see how to grow our money legitimately. Don't let us be left out please

logoscope:
lol, someone said we should start selling recharge card instead... and I agree.

samkay12:
I guess the real question is..
How is true yield calculated??
Is there a formula?

That will be a good way of framing my question. I only asked about that because my rate (18.28%) for 364 sailed through using true yield option on the form. Thanks.

I got an email from GTB that they will process my request at the next auction. Anybody got a similar email?

bendo75:


That will be a good way of framing my question. I only asked about that because my rate (18.28%) for 364 sailed through using true yield option on the form. Thanks.

True yield=(1/(1-r))-1 where r=discount rate

The rate n tenor must be for a year
So for, 18.28% true yield is 22.37%

bendo75:


Oga Feelamong, please what will be the true yield for 18.28%. Thanks

This is my simple idea.

You get true yield when you hold your investment to maturity.

Suppose you invested 100,000 Naira for 364days at 18.28%. The interest is 18,280 Naira. Now remember that the debit from your account will be 100,000-18,280 which is 81,720.

So to calculate your true yield
(18,280/81,720)*100%.

Ans : 22.37%

samkay12:
I guess the real question is..
How is true yield calculated??
Is there a formula?

This is my simple idea.

You get true yield when you hold your investment to maturity.

Suppose you invested 100,000 Naira for 364days at 18.28%. The interest is 18,280 Naira. Now remember that the debit from your account will be 100,000-18,280 which is 81,720.

So to calculate your true yield
(18,280/81,720)*100%.

Ans : 22.37%

if i invest 100k for 91 days tenor at say 13.% please can someone help me calculate roughly how much am expecting .thanks

tunene66:


True yield=(1/(1-r))-1 where r=discount rate

The rate n tenor must be for a year
So for, 18.28% true yield is 22.37%

Thank you bro.

unite4real:


This is my simple idea.

You get true yield when you hold your investment to maturity.

Suppose you invested 100,000 Naira for 364days at 18.28%. The interest is 18,280 Naira. Now remember that the debit from your account will be 100,000-18,280 which is 81,720.

So to calculate your true yield
(18,280/81,720)*100%.

Ans : 22.37%

Thank you so much.

gustavo440:
if i invest 100k for 91 days tenor at say 13.% please can someone help me calculate roughly how much am expecting .thanks

I = PTR/(100 * 365)

Where: I = Interest, P = Principal, T = Time, R = Rate

I = 100,000 * 91 * 13 / 36500

I = 118300000 / 36500

I = 3241

So you should be debited with: 100,000 - 3241 = 96,759 which is the discounted value because the interest is paid upfront.

thanks.

I actually moved from NTB to MMF last month basically for cash flow reasons, I guess now, it's being a great decision, considering that I get upwards of 17% regardless of investment tenor. I see mutual funds sizes growing significantly over the next quarter, as it won't be long before retail investors who pulled out to NTB last year return.

awesomeJ:
I actually moved from NTB to MMF last month basically for cash flow reasons, I guess now, it's being a great decision, considering that I get upwards of 17% regardless of investment tenor. I see mutual funds sizes growing significantly over the next quarter, as it won't be long before retail investors who pulled out to NTB last year return.

true. Actuallly doing 17.4% this morning against the 17.2% from this week's NTB 182 day result. You can access your MMF from 30 days. This implies that youre getting at least 17.4 for 30 days compared to around 14% for 30 days on NTB. So Mutual Funds - MMF is the way forward. The only downside is that you don't take your interest upfront.

Hello House,I would appreciate your expert opinion or advice on this,I submitted my instruction with my branch at diamond bank a day before auction and from the stop rates I see,I scaled for 91 day tenure,but a lady just called me to say there was none for both primary and secondary market hence why I was not debited.

I told her I didn't quite understand as I bidded for the primary market and she said there was none for yesterday.

I would like to verify this as I suspect my instruction was not treated,.

I Wil appreciate responses in what might have happened and possible steps to take incase I have been skillfully played. Thanks

awesomeJ:
I actually moved from NTB to MMF last month basically for cash flow reasons, I guess now, it's being a great decision, considering that I get upwards of 17% regardless of investment tenor. I see mutual funds sizes growing significantly over the next quarter, as it won't be long before retail investors who pulled out to NTB last year return.

please whats this MMF.......i think i like it, how does it work.......it seems more flexible.....

Lalaska:


true. Actuallly doing 17.4% this morning against the 17.2% from this week's NTB 182 day result. You can access your MMF from 30 days. This implies that youre getting at least 17.4 for 30 days compared to around 14% for 30 days on NTB. So Mutual Funds - MMF is the way forward. The only downside is that you don't take your interest upfront.

awesomeJ:
I actually moved from NTB to MMF last month basically for cash flow reasons, I guess now, it's being a great decision, considering that I get upwards of 17% regardless of investment tenor. I see mutual funds sizes growing significantly over the next quarter, as it won't be long before retail investors who pulled out to NTB last year return.

Guys, what MMFs have you subscribed to?

zamirikpo:



please whats this MMF.......i think i like it, how does it work.......it seems more flexible.....

Money market fund. What they do with your money is to pool so many investors money and buy treasury bills, bonds and other secured government instruments. With the pool of fund, they get better bargains and save you the headaches of throwing in bids to do it yourself every now and then.

Marko_Robot:
Hello to all existing and aspiring ponzi sites owner out there.


We all know first impression last long. If you are ready to launch your site and you want immediate publicity and enough members to storm it, you are at the right place . .


Contact Mark on zero eight one three, zero six two zero, four eight zero


Always remember , how your ponzi sites starts always determines the end.

Good afternoon, pls I have a question. A friend of mine purchased a NTB of 60m at the rate of 17.2 for 182 days and CBN bid rate was 17.2, meaning he won. But we noticed that instead of debiting him 54,854,136, he was debited 7,942,879. When we made equiry, the bank said it is because he won at CBN stop rate and that CBN prorates and readvices a face value, which they said Is around 8.33m in this case. Please help me understand o Thanks.
@feelamong