seye4nii:
thank you royal 155, i nearly fight with him but unfortunatly i will be traveling back to London this morning can i do it from outside nigeria because that guy waste my time yesterday

You can do it online. Just get the email address of your bank manager involved. Sometimes u can contact the bank headoffice treasury and they can be of help

seye4nii:
thank you royal 155, i nearly fight with him but unfortunatly i will be traveling back to London this morning can i do it from outside nigeria because that guy waste my time yesterday

That you have to ask the likes of feelamong and seun because i don't have a clue about that your question. Sorry for that. Goodluck

I just receive call from unionbank that treasure bill will not be issue these week......house how true is these,this pipo have been playing with my gentleness.

Seun:
FKBZ: It's wise if you don't have another place to invest the money where you can earn more interest after accounting for risk (probably yes)

dont know how to get across to you, so crave your indulgence, please close down the thread where the fake soyinka news is on the politics section, it has become nothing short of prejudicial ethnic bias.

[quote][quote author=Royal155 post=33460880]
The bank will gain more from you(I think 10% of your capital gain) if you fixed your fund and they have full control of the money you fixed, unlike t.bills where central bank controls the money and the bank's commission is very small.
Don't let them woo you into fixed deposit unless it's what you want to do.

The bank doesnt take 10% on fixed deposit interest. The 10% is withholding tax and goes to the LIRS/FIRS. You can pull your money out at any time though subject to some conditions.

nice thread

If I want to add to my principal, when would calculation for the interest take effect? immediately or the next auction date?

[quote author=olujaidi post=33473284][/quote] Thanks for the correction but still T.Bills is a better option

seye4nii:
would like to know why those guy always insist that we should do fixed deposit same thing happen to me at first bank yesterday infarct
the guy told me that the interest rate deference is not much but i insist that i have some Guru bosses on nairaland that said t bill is better than Fixed deposit maybe they get commission for changing peoples mind?

When you invest in fixed deposit, your money remains in the bank and it is used for investment just like they do to customer's regular savings. Also, bank workers can use fixed deposit funds to meet up their targets.

seye4nii:
thank you royal 155, i nearly fight with him but unfortunatly i will be traveling back to London this morning can i do it from outside nigeria because that guy waste my time yesterday

Yes you can. Write a signed letter of authorization for the bank to debit your account for the purchase of Tbill and send it to the bank by email. If you're dealing with first bank send an email first and tell them you want to invest in Tbills. They will send you a form to fill and ask you to send a letter of instruction with a valid ID. Send your email to firstcontact@firstbanknigeria.com .

Thank you all my Guru masters i will do as told, thank god am back home very happy thank you all again i will update you about any issues

I appreciate the great investment gurus in the house. Please, I have a little question to ask. I filled a Tbills form with First Bank just a day after the last auction instructing them to debit my account for today's auction. The fund was debited two days later without receiving the interest upfront as expected (The alert specified it was for Tbills on a 91days tenor) . I assumed probably the fund needed to leave my account against the next bid. However, I called the officer in charge to verify the position of things, but he has not been picking my calls. I serve in a very rural area, thus it will take serious planning for a journey to visit the bank again. My question is :
1.) Is it right to deduct funds a week plus to the auction date?
2.) Am I not meant to receive my upfront interest today suppose my bid was placed today and it was successful?

Chudymario:
I appreciate the great investment gurus in the house. Please, I have a little question to ask. I filled a Tbills form with First Bank just a day after the last auction instructing them to debit my account for today's auction. The fund was debited two days later without receiving the interest upfront as expected (The alert specified it was for Tbills on a 91days tenor) . I assumed probably the fund needed to leave my account against the next bid. However, I called the officer in charge to verify the position of things, but he has not been picking my calls. I serve in a very rural area, thus it will take serious planning for a journey to visit the bank again. My question is :
1.) Is it right to deduct funds a week plus to the auction date?
2.) Am I not meant to receive my upfront interest today suppose my bid was placed today and it was successful?

Don't know about other banks, but for the two times I've invested through First Bank that was the way they did it. I guess that's the normal procedure.
Then for your interest, it will be payed immediately after the auction- probably Thursday or Friday.
So dear the money will be deducted from your account even if the auction date has not yet reached and you have given a written order deduct the t.bill fund from your account( for my branch though).

Unless if after the auction and you didn't receive your interest, then you should go and file a complaint in the bank.

This is 2cent. I stand to be corrected though!

Royal155:

Don't know about other banks, but for the two times I've invested through First Bank that was the way they did it. I guess that's the normal procedure.
Then for your interest, it will be payed immediately after the auction- probably Thursday or Friday.
So dear the money will be deducted from your account even if the auction date has not yet reached and you have given a written order deduct the t.bill fund from your account( for my branch though).

Unless if after the auction and you didn't receive your interest, then you should go and file a complaint in the bank.

This is 2cent. I stand to be corrected though!

Okay. Thanks for explaining. I'll probably wait to see if I get credited by Friday or next.

How is everyone? As you all know,my bank tells us the rates at which we could bid. Lately, Ecobank has been coming up with ridiculously low rates...see sample

91days
7.80%, 7.90% and 8.00%

So I am only permitted to pick one out of the above rates, it's ridiculous I tell you...can't wait to come n shift my money to another bank.
I went for 8%, it's low but my cash has been sitting there for a while now.

Results are in & have a look at the successful rates.... Am i right in thinking my bid was unsuccessful? I have requested not to be sold TB on their secondary market at my rate oh...I will wait till next auction.

My access account was debited with 97506.85 today for 100K TBills I think that is 10% pa for 91day tenor

feelamong:
@Omo Yankee... You can actually buy the Tbills from any Commercial bank, or any Discount House in Nigeria....

The fees are 0.125% of the amount invested. However you should be aware that the effective Yield on Tbills is higher that than the advertised discount rate.....as the yield is discounted upfront. So a 14% yield is effectively about 14.25%...

As a layman who is interested in getting started what is the minimum amount one can use to invest or get started with

Please guys is it necessary to collect certificate after investing in Tb. I didn't collect any from first bank due to distance hope it doesn't have any negative effects on my investment.

kaptinphilz:
Please guys is it necessary to collect certificate after investing in Tb. I didn't collect any from first bank due to distance hope it doesn't have any negative effects on my investment.

It does not. Only be sure that u hv it. U can go to a nearby branch n ask for your statement. If u subscribe to SMS alert u should have gotten d debit alert

edorhe14:

As a layman who is interested in getting started what is the minimum amount one can use to invest or get started with

The minimum for investing in T.bills through UBA and First Bank is N100k

Royal155:

The minimum for investing in T.bills through UBA and First Bank is N100k

Ok..
Pls. What is the interest rate and how does one go about it?

I can see we are progressing.

kaptinphilz:
Please guys is it necessary to collect certificate after investing in Tb. I didn't collect any from first bank due to distance hope it doesn't have any negative effects on my investment.

Let them send it online to you. I normally get the soft copy.
write to the bank and request they send it on the email you provided

I h=visited zenit bank today. they said 1million as minimum investment in TB. wow

just2endowed:
I h=visited zenit bank today. they said 1million as minimum investment in TB. wow

I can confirm that too. Try Access I have bought two tranches of 100K treasury bills there recently

tunene66:


I can confirm that too. Try Access I have bought two tranches of 100K treasury bills there recently

okbut i hope they honour one call for placing treasury bills

just2endowed:


okbut i hope they honour one call for placing treasury bills

If you have an account with d bank.

Some banks may be ripping you guys off. Those rates are super small ni. If you need high rates and high returns on your investments, come to diamond. Send an email to kogbonmwan@diamondbank.com

Hello house,
Please, I need clarification on the bank charges for treasury bill primary auction purchase? Is it 0.125% of the principal or 0.125% of the yield (i.e. the interest)? What other fees are usually charge?

Also, is the charge the same for purchase from secondary market?

Are these fees different from bank to bank? I ask as my colleagues have all mentioned different charges from their banks.

Thanks.

mrkels:
Some banks may be ripping you guys off. Those rates are super small ni. If you need high rates and high returns on your investments, come to diamond. Send an email to kogbonmwan@diamondbank.com

sorry but please why don't you post the return rate here too

And please does anyone have any information about WEMA BANK concerning treasury bills investment?