I wrote Zenith bank to ask about their fixed deposit interest rate and got this response.

Fixed deposit rates:

TENOR AMOUNT RATE PER ANNUM
30DAYS 1M 4%
60DAYS 1M 4%
90DAYS 1M 3.25%

Someone please confirm if this is standard rate or there are far better rate elsewhere or maybe I should try to negotiate for more?

Fixed deposit accounts are a waste of your time.
Treasury Bills have better rates and are also less risky.
https://www.nairaland.com/878880/treasury-bills-nigeria

Seun: Fixed deposit accounts are a waste of your time.
Treasury Bills have better rates and are also less risky.
https://www.nairaland.com/878880/treasury-bills-nigeria

Yea, I don't do fixed deposit again, treasury bills all the way.

You better cancel fixed deposit from your thought and embrace Treasury Bills. Keystone bank gives 8.5% for 3 months F/D but it is still no where close to T-Bills.

the banks will take ur money that u put in Fixed deposits account and go invest it in treasury bills make some profits and give u the balance after deduction their bank charges.

so why nt u put it in to Treasury bills ur self and get bigger profits

Brilliant tips! How does this treasury bills thing work? How do I go about putting my money into it?

Seun: Fixed deposit accounts are a waste of your time.
Treasury Bills have better rates and are also less risky.
https://www.nairaland.com/878880/treasury-bills-nigeria

Oga Suen, how can one buy treasury bills

KingPradas: Oga Suen, how can one buy treasury bills

You can buy them from your bank.

Seun: Fixed deposit accounts are a waste of your time.
Treasury Bills have better rates and are also less risky.
https://www.nairaland.com/878880/treasury-bills-nigeria

Can one buy with 50k?

Contumely: Can one buy with 50k?

No, but you can buy FGN bonds with 50k or even 10k.

Seun: No, but you can buy FGN bonds with 50k or even 10k.

thanks, please how do i go about it as i need to do that asap.
Any special advice or something one should be warry of?
Thanks.

Contumely:
thanks, please how do i go about it as i need to do that asap.
Any special advice or something one should be warry of?
Thanks.

Contact your bank. They'll give you a form to fill.

Seun: Contact your bank. They'll give you a form to fill.

I appreciate this. like i asked earlier, anything to be afraid of and where can i read more about this as google results don't seem enlightening enough?

Contumely:
I appreciate this. like i asked earlier, anything to be afraid of and where can i read more about this as google results doesn't seem enlightening enough?

Check the following threads:
https://www.nairaland.com/768325/what-bonds-how-invest-nigerian
https://www.nairaland.com/1167218/how-invest-federal-government-bonds

dude,
visit FBN or FCMB update accordingly


thanks

hi,

the CBN published monthly MPR normally serves as a guide research details ASAP

Elai147:

Check the following threads:
https://www.nairaland.com/768325/what-bonds-how-invest-nigerian
https://www.nairaland.com/1167218/how-invest-federal-government-bonds

Thanks

buJu-234:
the banks will take ur money that u put in Fixed deposits account and go invest it in treasury bills make some profits and give u the balance after deduction their bank charges.

so why nt u put it in to Treasury bills ur self and get bigger profits

YOU ARE SERIOUSLY ON POINT

Pls a laymans view of dis T/B biz .if i invest N1M hw much do i get in a month?

i can give you 10% for N1million for 360 days and for N5million i can give you 15% for 360 days. PM me for details

can one begin TB with 100k. nd which banlk for a start.

miitcash: can one begin TB with 100k. nd which banlk for a start.

Yes, First bank will accept 100K.

Any Risk on T/B? My bank offer me 8.5% on Fix deposit .Does that means T/B will offer more?

Elai147:

Yes, First bank will accept 100K.

my man what will be the profit after a month or e.t.c for 100k?

Elai147:

Yes, First bank will accept 100K.

my man what are the risk and how do i play well in tb?

ihedioramma: my man what will be the profit after a month or e.t.c for 100k?

The rates are not fixed and are determined by CBN on every auction. Recently the rates have been between 10% - 11% per annum. For 100k at 10%, the interest will be N2,500 per quarter (3 months). The higher the capital, the better.

ihedioramma: my man what are the risk and how do i play well in tb?

There is zero percent risk on treasury bills because they are backed by the Federal government and CBN. There is a thread for T-bills by oga feelamong. Follow the thread for better understanding.

Fixed deposits are great, the onus lies in finding out the banks that offer the best rates. Research has shown me that investment houses offer better rates than banks, so when next you are in the bank that has an investment subsidiary like UBA Capital in UBA or FBC in First Bank, ask to see the investment team and get clarification, most of these front desk officers lack product awareness

gkgkg

money market mutual funds can give u 13% for 30 days. stanbic asset mgt, arm nd fbn capital are d major players. the money market fund is invested in TBills, fixed deposits and commercial paper, d get beta rates cos of the volume in d fund. Stanbic has 35b, fbn about 25, arm about 6 billion. so dont dull my brother. rates are net of fees

dbucas:
Bank managers see people that partakes in fixed deposit as fools. When you fixed your money in banks, what they do is to invest it most especially in forex trading and make fortunes out of it, giving you u only 4% of your money at the end of the year, whereas they have made more than 200% of that money within a year, IMAGINE. call me on 08036812455 to learn how professionals trade the forex market.

What is the risk level in fixed deposit sand what is the risk lev in fx trading