MssRose:
Was finally debited yesterday by stanbic. I did for 1.4M for 364days and 1,141,988.82 was debited. please house what percentage interest is that.

About 18.48%.

PhilJames:


8.2M will get you 272,958 for 90 days....

Treasury bill is way better than Fixed deposit.

wow! please who has eight million that they're not using?

Kentrasso:


wow! please who has eight million that they're not using?

I have eight million kobo that i am not using

Please is there anyone here that bidded with Stanbic, and is yet to be debited?

Kentrasso:


wow! please who has eight million that they're not using?

I have but it is with somebody that is paying 25% on it. If you are ready to pay 30% on it sha, i fit comot am from the person hand give you.

TONY56:



You were lucky to have gotten 10%.
Hope you have "learnt you lessons now?" Better run away and move to Treasury Bills where your treasures are right now.

no i was taxed 10%,the fixed deposit was at 7.00 rate

TONY56:



In your own interests, you better go through from page 1 to the end so that you don't keep asking same questions that have been answered severally and at the end of the day, you will be glad you did.

Don't get scared at all, it's something you can finish in less than one week IF you are determined. Just target at least 50 pages a day as if you're reading a novel and at the end of the day you won't ask a single question again on the forum while you find yourself making contributions and enlightening others.

Try it and thank me later cause you can do it

hmmmm ok thanks,will do that tomorrow

tobe4real:
no i was taxed 10%,the fixed deposit was at 7.00 rate

You were taxed 10% of your money while they gave you 7% interest daylight robbery

CuteRedd:
You were taxed 10% of your money while they gave you 7% interest daylight robbery

taxed 10% of the proceeds of the investment,my first time venturing into investments of this sort,it's always been about properties and knowledge/skills

Any UBA investor in the house?

punae:
Any UBA investor in the house?

I don ask tire

MOM1:


Yes but you have to submit the application before the bid day. I submitted my application 2 weeks ago and was debited but transaction was completed yesterday. I received my interest today.

Which of their branches? Ajao estate branch will not allow you, but most of the branches on Lagos island will oblige you.

good day all,Pls is there any one who is yet to be debited from stanbic?

I am yet to be debited and the customer service girl informed me when I called that is today,just thinking the 'evils' that will happen on Monday if my transaction wasn't treated

NL1960:

About 18.48%.

Thanks. Fair enough

Bros same here ooo.. What can you fit to do if the request was not treated, other than to jeje-ly move to First bank.

chyima:
good day all,Pls is there any one who is yet to be debited from stanbic?

I am yet to be debited and the customer service girl informed me when I called that is today,just thinking the 'evils' that will happen on Monday if my transaction wasn't treated

AkDave1:
Bros same here ooo.. What can you fit to do if the request was not treated, other than to jeje-ly move to First bank.

what can I do? i'm laughing at this statement very well ,cos I fear for whoever that will attend to me on Monday if no tangible reasons will be provided for it

tobe4real:
ok thanks but I thought different tenors have different fixed rates

Bros, if you by any chance take the pain to read through the 1st 5 - 10 pages of this thread, (especially as you have so much to put in) you will most likely have only few or no questions to ask, and will be in better position to make more informed decisions.

punae:
Any UBA investor in the house?

debited on Thursday evening, though rate not known yet because have not received email

Glowoak:
Good day house. Is it possible to have an interest ridiculously less than the calculated after purchase of treasury bill. Eg 500k TB purchased for 91 days tenor yielding #450 only?

I am not certain what your problem might be as you will only be sure when you visit the bank you invested. However, if your investment was done through first bank it is likely that you requested for the interested to be reinvested with principal. Treasury Bill investment is done in thousand hence if there is a few hundreds on your intended investment funds it it sent bank so that might be what u saw. If not 500k investment for 91days even @ 13% it should nt less than 16k.

.

chyima:
good day all,Pls is there any one who is yet to be debited from stanbic?

I am yet to be debited and the customer service girl informed me when I called that is today,just thinking the 'evils' that will happen on Monday if my transaction wasn't treated

Sometimes u may not get credit or debit alert. When i first did mine, i didnt get any alert and i was thinking that they didnt work on it until i was shown my balance and my proof of investment.

Kentrasso:

wow! please who has eight million that they're not using?

Lols. You can borrow from bank

Good evening to u all. I have been following this wonderful thread for quite a while and I must say I appreciate the efforts of gurus in order to make this thread one f financial enlightenment.

Please I have a question, as regards purchasing of TBILLs either in the primary or secondary market, can u put DIAMOND BANK on the same level with STANBIC and FIRST BANK? I use DIAMOND BANK but I see that stanbic and First bank happen to be the most recommended banks for TBILLs here.

If DIAMOND is good to go, I think I will start investing in TBILLS right away.

mindtricks:


Bros, if you by any chance take the pain to read through the 1st 5 - 10 pages of this thread, (especially as you have so much to put in) you will most likely have only few or no questions to ask, and will be in better position to make more informed decisions.

5-10pages?? Cool!thanks,better than reading 300+ pages

wellsaid:
Good evening to u all. I have been following this wonderful thread for quite a while and I must say I appreciate the efforts of gurus in order to make this thread one f financial enlightenment.

Please I have a question, as regards purchasing of TBILLs either in the primary or secondary market, can u put DIAMOND BANK on the same level with STANBIC and FIRST BANK? I use DIAMOND BANK but I see that stanbic and First bank happen to be the most recommended banks for TBILLs here.

If DIAMOND is good to go, I think I will start investing in TBILLS right away.

Diamond bank you don't want to die early according to review here.

Dust your passport/ voters card move to FBN and/or Stanbic on Monday. Open an account with them.

Primary auction: Stanbic is the King
Secondary market: FBN no dey carry last.

wellsaid:
Good evening to u all. I have been following this wonderful thread for quite a while and I must say I appreciate the efforts of gurus in order to make this thread one f financial enlightenment.

Please I have a question, as regards purchasing of TBILLs either in the primary or secondary market, can u put DIAMOND BANK on the same level with STANBIC and FIRST BANK? I use DIAMOND BANK but I see that stanbic and First bank happen to be the most recommended banks for TBILLs here.

If DIAMOND is good to go, I think I will start investing in TBILLS right away.

I don't want to bore you with a long strong, so I will try and make it brief using my own personal experience.

I bank with Diamond and I've always wanted to invest in T-bills through them. However, their rates are not encouraging in addition to their tactical ways of persuading me not to invest in T-bill. A novice would have been easily fooled.

I have a bit of banking experience, spent 3.5 years with two good banks, so I'm no novice to their ways. Banks enjoy "float" on current accounts which they lend out to "borrowing" customers at over 18%. Mind you, there's is no cost of funds to the bank since they are paying the depositors nothing on current account deposits and when they do (for FD and saving accounts), it's always marginal.

In summary, banks would rather keep your money with them. However, when you invest in T-bills, the funds are not available for the bank to use or earn on. Hence they will give you all the silly excuses on earth when you give them an instruction.

Based on this thread, I had to open new bank accounts with both banks - FBN and Stanbic and I tried investing through both (this week). Despite the fact that my funds had been sitting with FBN for a week prior to bidding, they still came back with a silly excuse of not getting approval from HQ. Again, I suspect the branch does not want to lose deposit, at least not for the next two weeks since they are now promising and begging that they will make next bid

Stanbic only got the funds Monday and by Tuesday, a lien was already on the funds and just yesterday I was debited.

On a lighter note, Stanbic wasn't one of the banks i worked for

Please when is the next auction for TB for FBN?

tobe4real:
thanks boss no you did not try small,this is try big

Av u gone to d bank nw?

Fm4real06:

Av u gone to d bank nw?

no i will much later

cooldudeng:


I don't want to bore you with a long strong, so I will try and make it brief using my own personal experience.

I bank with Diamond and I've always wanted to invest in T-bills through them. However, their rates are not encouraging in addition to their tactical ways of persuading me not to invest in T-bill. A novice would have been easily fooled.

I have a bit of banking experience, spent 3.5 years with two good banks, so I'm no novice to their ways. Banks enjoy "float" on current accounts which they lend out to "borrowing" customers at over 18%. Mind you, there's is no cost of funds to the bank since they are paying the depositors nothing on current account deposits and when they do (for FD and saving accounts), it's always marginal.

In summary, banks would rather keep your money with them. However, when you invest in T-bills, the funds are not available for the bank to use or earn on. Hence they will give you all the silly excuses on earth when you give them an instruction.

Based on this thread, I had to open new bank accounts with both banks - FBN and Stanbic and I tried investing through both (this week). Despite the fact that my funds had been sitting with FBN for a week prior to bidding, they still came back with a silly excuse of not getting approval from HQ. Again, I suspect the branch does not want to lose deposit, at least not for the next two weeks since they are now promising and begging that they will make next bid

Stanbic only got the funds Monday and by Tuesday, a lien was already on the funds and just yesterday I was debited.

On a lighter note, Stanbic wasn't one of the banks i worked for

This is a cool write up. It seems most of the banks are now discouraging customers from investing in Tbills.
There is something i still dont understand, cant Fedgovt do something to stop them from discouraging their customers since the fed govt is in need of our money?
Uptill now my bankers in the branch i opened my TB are not happy with me. Is it by force to do FD?

torres2:


Diamond bank you don't want to die early according to review here.

Dust your passport/ voters card move to FBN and/or Stanbic on Monday. Open an account with them.

Primary auction: Stanbic is the King
Secondary market: FBN no dey carry last.

Wow ,... Thanks for the quick response and also the note of warning , highly appreciated.