Ty207:

fixed account give interest of 10-13% per annual pls can you tell us what make MMF better off fixed account?

I do not think one is better than the other really, it depends on your situation and what works for you. I would not do fixed deposit due to personal reasons so MMF suits me better. KGIF offers the best rate I have seen so far though.

carpenter:


I do not think one is better than the other really, it depends on your situation and what works for you. I would not do fixed deposit due to personal reasons so MMF suits me better. KGIF offers the best rate I have seen so far though.

welcome carpenter, how was the break?

carpenter:


I kuku dey o, i just went on a break away from the computer for a while.

Entry position for FBN MMF is the quite low (5k pere *2 movie tickets, popcorn and drinks* )...it is for everybody.

Go to their site and request for an account opening form...you can fill, sign and send a scanned copy to them. Money can be transferred online to their account. You can register for online access and watch your money grow daily

thanks for the info! what of if I start with NGN 20,000 will it improve the rate or the interest is at a fixed rate on whatever principal?

carpenter:


Sammily congrats on getting on with FBN MMF.

However, your rates above are not entirely correct. The rates are for a year not monthly or quarterly. Income is accrued daily but payments are made quarterly as you rightly said. So for your quarterly payment, if the average rate for the year is 10.88%, you get 10.88 divided by 4 ..which is about 2.7% for a quarter (3 months).

Oh!! my bad, the rate is annual just as you explained.

ps3o:
thanks for the info! what of if I start with NGN 20,000 will it improve the rate or the interest is at a fixed rate on whatever principal?

interest is fixed but remember that 10% of 5000 is not the same of 20000

carpenter:


I kuku dey o, i just went on a break away from the computer for a while.

Entry position for FBN MMF is the quite low (5k pere *2 movie tickets, popcorn and drinks* )...it is for everybody.

Go to their site and request for an account opening form...you can fill, sign and send a scanned copy to them. Money can be transferred online to their account. You can register for online access and watch your money grow daily

Welcome back from your digital detox.

Choi I swear you've finished me. Na my Life savings you dey yab so oh. Lolzz

Anyways, thanks a lot for the info. I will follow it up ASAP. The earlier one starts the better, right?

Happy new year.

oh Jesus help me. financial intelligence does not come easy oh. all dis grammar ok. plz i want to do mmf with fbn wat questions should i ask. want to visit them by Monday. tanx in advance.

ernie4life:

interest is fixed but remember that 10% of 5000 is not the same of 20000

thanks! Will the principal still be intact OR is it only the dividend that becomes what i stand to enjoy?

Has anyone here heard of Sterling Asset Management and Trust limited (SAMTL)
They are owned by Sterling Bank and they pay 14% with interest paid quarterly

Thought it will be good to share as some guys in my office use them

Am about to start with them next month

ps3o:

thanks! Will the principal still be intact OR is it only the dividend that becomes what i stand to enjoy?

principal is always intact

lamby:
Has anyone here heard of Sterling Asset Management and Trust limited (SAMTL)
They are owned by Sterling Bank and they pay 14% with interest paid quarterly

Thought it will be good to share as some guys in my office use them

Am about to start with them next month

14% is unbelievable and too good to be true. what will the be investing the money into?
bonds go for 13% even MPR is 13%, so am wondering what the do with the money that gives them 14%. If we had a clue of what the do with the money then we will have more confidence to invest in it.

please give us more info on it am interested and if I have time I may go to there office.

ernie4life:


welcome carpenter, how was the break?

not bad bro...need some more though

emeka94:


Welcome back from your digital detox.

Choi I swear you've finished me. Na my Life savings you dey yab so oh. Lolzz

Anyways, thanks a lot for the info. I will follow it up ASAP. The earlier one starts the better, right?

Happy new year.

Yes O! the earlier the better.

ernie4life:


14% is unbelievable and too good to be true. what will the be investing the money into?
bonds go for 13% even MPR is 13%, so am wondering what the do with the money that gives them 14%. If we had a clue of what the do with the money then we will have more confidence to invest in it.

please give us more info on it am interested and if I have time I may go to there office.

My thoughts too and is Sterling Bank still a bank in Nigeria?

Note that the higher the risk the higher the profit and this may be a move to pull people towards them and sincerely nothing wrong with that strategy. You cannot be offering 11-13% that the funds backed by the big players are offering and expect to make headway...so 14% may not be really too good considering their situation. In the end, it is about sitting down to analyse the risks involved and personal preferences to decide...

100,000 invested in funds with 11,12,13 and 14% would earn you 11k, 12k, 13k and 14k respectively in a year
1,000,000 in the above order would yield 110k, 120k, 130k, 140k respectively in a year

The more you have to invest the more the difference and the longer you invest in the fund, the more the percentages start to make more sense.

edited

carpenter:


Oga ednut1 could you please post the link to the website where FBN MMF was said to be 13%? Since 2012 that I have been investing with them, I have not seen 13% anywhere. I have not even seen anything in the region of 12% sef. For those who want to know, the historical prices of FBN Capital products are here http://www.fbncapital.com/asset-management/fund-prices

Disclosure...I bank with FBN, own shares in FBN Holdings and invest with FBN Capital.

I do not have any kind of employment or job contract running with them

it was der dis week. on their site. obviously a mistake from d IT guys or nt

ednut1:
it was der dis week. on their site. obviously a mistake from d IT guys or nt

ednut1 please always post verifiable information, it's obvious you are here to do advert for stanbic ibtc, I won't discourage you but please don't accuse any company without proves

ernie4life:


ednut1 please always post verifiable information, it's obvious you are here to do advert for stanbic ibtc, I won't discourage you but please don't accuse any company without proves

not at all . dat was not my intention o. i hv friends there. it was an innocent error. lemme go nd edit post o

ednut1:
edited

Ednut

The problem I av with FBN MMF is inability to divest frm d fund wit my PVC (I dnt av any of d 3 ID requested). Although, I used Voters card to subscribe.
So far, they av b gud with consistent div payment, although, I choose re-investment of div.

Yem0350:
The problem I av with FBN MMF is inability to divest frm d fund wit my PVC (I dnt av any of d 3 ID requested). Although, I used Voters card to subscribe.
So far, they av b gud with consistent div payment, although, I choose re-investment of div.

That is so strange especially since you subscribed with that. If I were you, I would write them a strong worded email then visit their office for a showdown. If voters card is accepted for banking activities, I do not see why they would not accept it.

ednut1:
it was der dis week. on their site. obviously a mistake from d IT guys or nt

Why dont you stop being a smartass and just apologise. Your intentions were very clear...if you knew it was a mistake (wondering if it was really there sef and not just something you dreamed happened), why did you mention it?


Anyways, I am apologising on behalf of Oga Ednut1

carpenter:


That is so strange especially since you subscribed with that. If I were you, I would write them a strong worded email then visit their office for a showdown. If voters card is accepted for banking activities, I do not see why they would not accept it.

I av sent mails but they did not shift ground. Dat has prevented me frm doing additional subscription because there is tendency I nid funds.
No time to visit dem for now but will surely do dat ONE DAY

Yem0350:

I av sent mails but they did not shift ground. Dat has prevented me frm doing additional subscription because there is tendency I nid funds.
No time to visit dem for now but will surely do dat ONE DAY

I remember CBN sent a circular out to all banks and financial service operators to take PVC.

Do you have an account with FirstBank by any chance?

by the way, did you mean TVC or PVC...just for clarification?

huge principal, better dividends

carpenter:


Why dont you stop being a smartass and just apologise. Your intentions were very clear...if you knew it was a mistake (wondering if it was really there sef and not just something you dreamed happened), why did you mention it?


Anyways, I am apologising on behalf of Oga Ednut1

just did nt want to cause commotion o. jst call dem and say i noticed dis last week monday -Wednesday and say u guess it was a mistake. hear what dey will say case closed sir . nt taking anytin away from dem. they are really putting oda players on der toes

carpenter:


I remember CBN sent a circular out to all banks and financial service operators to take PVC.

Do you have an account with FirstBank by any chance?

by the way, did you mean TVC or PVC...just for clarification?

PVC and I also have acct with d bank

Yem0350:

PVC and I also have acct with d bank

Wow! that should not be a problem at all.

They can always confirm your identity with their sister company.

All da best sha.

Happy new year, house.

May our capital power increase this year and our dividends come in as and when due.

@carpenter.... Welldone boss, more accuracy to ur accounting calculations. Lol.
@ednut1... M sori to bore u wt questions, ls bear wt me as am a novice to investments and accounts. D annual profit of Mutual funds is calculated in what way? Is it by adding d daily earnings for 365 days or 12% of d total daily earnings for 365days?