Anyone been to First Bank to get the current rates?

Please share!

I'm in Stanbic IBTC Bank right now to purchase NTB.
Primary market...

bliss11:
hello thanks for all your input that helped me apply successful for tb in April, it's to mature this October and I was told that there would be things like holding or security charges is it normal? I used UBA

It is very abnormal pls and I know Stanbic and First bank does not deduct any kobo from matured NTB.
Well, I won't be suprised if UBA, does that cause I had a bad experience with them some years back that made me abandon my account with them when they zeroed my account from about 10k in the name of frivolous deductions.

All the same, I don't believe they will deduct a kobo. You will simply see an alert that the exact invested amount has been credited onto you account on that day-you don't even need to ask or remind them. Pls let us know if any deduction is made

I think I'll just try for the same primary market with Stanbic, I already pushed the funds to my Stanbic account.
BTW, when is the cut-off for application towards the upcoming primary market bid?

Izuogu1:
I'm in Stanbic IBTC Bank right now to purchase NTB.
Primary market...

Just for the sake of info, could you also find out what rates they have listed today for secondary market? Thanks

Izuogu1:
I'm in Stanbic IBTC Bank right now to purchase NTB.
Primary market...

megacontrol:
I think I'll just try for the same primary market with Stanbic, I already pushed the funds to my Stanbic account.
BTW, when is the cut-off for application towards the upcoming primary market bid?

18th..that's Wednesday. U should bid before 5pm tomorrow.

megacontrol:
Just for the sake of info, could you also find out what rates they have listed today for secondary market? Thanks

ow..so sorry! Left the bank before seeing this

What is the rate guide for the upcoming primary market bid?

I got 15.5% for 87 days from Stanbic IBTC secondary market this morning!

I wanted to go fill out my bid for 91 days,primary market when the Officer told me 87 days was available at the secondary market @ 15.5%. I filled out the form sharp sharp!

This is one of the best thread i have seen on nairaland. Infact I bookmarked it. The only page i visit here. I have learnt alot and still learning here.

Bookmark
I do not close this tab on my browser... I enjoy every moment here.

turpsy:
This is one of the best thread i have seen on nairaland. Infact I bookmarked it. The only page i visit here. I have learnt alot and still learning here.

Available rates at Stanbic's secondary market are: 87 days--- 15.5% 171 days ___ 15.70% 262 days____ 16% expected stop rate for next bid at the primary market: 91 days----- 13.25% 182days----15.4% 364days---- 15.725%

MssRose:
Available rates at Stanbic's secondary market are:
87 days--- 15.5%
171 days ___ 15.70%
262 days____ 16%
expected stop rate for next bid at the primary market:
91 days----- 13.25%
182days----15.4%
364days---- 15.725%

AMEN

MssRose:
Available rates at Stanbic's secondary market are:
87 days--- 15.5%
171 days ___ 15.70%
262 days____ 16%
expected stop rate for next bid at the primary market:
91 days----- 13.25%
182days----15.4%
364days---- 15.725%

Thanks Mrs. Nm

I submitted my form today at first bank, let me c Hw it goes. Bt I tot I am suppose to b debited today till pending weda it will b successful?

First bank just sent me alert now that they have debited my account for tb 364 days.....Does that mean my bid is successful? or do i still have to wait? please, gurus help me out...

Destinydele:
First bank just sent me alert now that they have debited my account for tb 364 days.....Does that mean my bid is successful? or do i still have to wait? please, gurus help me out...

Wait till Thursday to hear from them. You are on track

spriteB:
I got 15.5% for 87 days from Stanbic IBTC secondary market this morning!

I wanted to go fill out my bid for 91 days,primary market when the Officer told me 87 days was available at the secondary market @ 15.5%. I filled out the form sharp sharp!

Ma'am, did you invest up to N250m?

You may be surprised by the question. But that's what some apparently clueless customer care agent told me I needed to invest in the secondary market. The person told me I can only do primary market with less than that amount.

If there were any limitations, such are more likely to apply to the primary market. I was aware that the minimum for that was announced at N50m months back. Still, people still do lower amount. So I knew the agent had to be clueless.

I'm amazed at how people seem to get secondary bills at Stanbic with relative ease. I went there four consecutive days two weeks ago for same, but it was one story or another as to why I can't get the TB.

I actually got the erroneous or deceptive customer care response after visits to bank failed to yield something positive. To think I opened the account recently solely for this purpose. Fund movement looks inevitable as things stand.

I got 286 for 15% at first bank secondary market. Are my being cheated?

U1:


Ma'am, did you invest up to N250m?

You may be surprised by the question. But that's what some apparently clueless customer care agent told me I needed to invest in the secondary market. The person told me I can only do primary market with less than that amount.

If there were any limitations, such are more likely to apply to the primary market. I was aware that the minimum for that was announced at N50m months back. Still, people still do lower amount. So I knew the agent had to be clueless.

I'm amazed at how people seem to get secondary bills at Stanbic with relative ease. I went there four consecutive days two weeks ago for same, but it was one story or another as to why I can't get the TB.

I actually got the erroneous or deceptive customer care response after visits to bank failed to yield something positive. To think I opened the account recently solely for this purpose. Fund movement looks inevitable as things stand.

If you are going through your account officer, stop. Just ask for the TB officer or you go to a branch that is not yours and ask for the TB officer.

Similar experience i've had at Stanbic Admiralty branch in Lekki, within the same period I have successfully done three different TBills transaction at FBN.
I will have to try another Stanbic branch.

U1:


Ma'am, did you invest up to N250m?

You may be surprised by the question. But that's what some apparently clueless customer care agent told me I needed to invest in the secondary market. The person told me I can only do primary market with less than that amount.

If there were any limitations, such are more likely to apply to the primary market. I was aware that the minimum for that was announced at N50m months back. Still, people still do lower amount. So I knew the agent had to be clueless.

I'm amazed at how people seem to get secondary bills at Stanbic with relative ease. I went there four consecutive days two weeks ago for same, but it was one story or another as to why I can't get the TB.

I actually got the erroneous or deceptive customer care response after visits to bank failed to yield something positive. To think I opened the account recently solely for this purpose. Fund movement looks inevitable as things stand.

You cannot really say the officer or bank has cheated you if they've provided info to you on all the available tenure and rates as at the time of your enquiry. You choose to deal at your selected tenure,rate and time.
You could have walked away to try another time, day , branch or ban altogether. Any of these could have presented you with a better (or worse) offer but you decided to take what was available to you at the time.
Nobody cheated you really!

needful:
I got 286 for 15% at first bank secondary market. Are my being cheated?

TONY56:


It is very abnormal pls and I know Stanbic and First bank does not deduct any kobo from matured NTB.
Well, I won't be suprised if UBA, does that cause I had a bad experience with them some years back that made me abandon my account with them when they zeroed my account from about 10k in the name of frivolous deductions.

All the same, I don't believe they will deduct a kobo. You will simply see an alert that the exact invested amount has been credited onto you account on that day-you don't even need to ask or remind them. Pls let us know if any deduction is made

ok I'll do dat it's to mature on the 19th of this month

Please, who has the phone number to report when treasury bill officials in banks are refusing to process your treasury bill purchase. They tell you they would not process your form for primary market if you do not have 50M and if you have less than that you can only get secondary market.
They want you to buy secondary market by all means. This is becoming too much for a particular bank.
Guess try to submit your forms if your bank is accepting as it ends today 4pm for the next auction

cdenc:
Please, who has the phone number to report when treasury bill officials in banks are refusing to process your treasury bill purchase. They tell you they would not process your form for primary market if you do not have 50M and if you have less than that you can only get secondary market.
They want you to buy secondary market by all means. This is becoming too much for a particular bank.
Guess try to submit your forms if your bank is accepting as it ends today 4pm for the next auction

You cannot report them anywhere because that is the CBN rule. Though some bank & branches accept their previous minimum before the rule was announced, they still reserve the right to do otherwise as it suits them. If you are told you can't do less than 50m all you can do is to look for another bank or branch that accepts what you and transfer your funds there for onward processing to avoid vexing yourself for nothing.

cdenc:
Please, who has the phone number to report when treasury bill officials in banks are refusing to process your treasury bill purchase. They tell you they would not process your form for primary market if you do not have 50M and if you have less than that you can only get secondary market.
They want you to buy secondary market by all means. This is becoming too much for a particular bank.
Guess try to submit your forms if your bank is accepting as it ends today 4pm for the next auction

Some banks will even discourage you from participating in both the primary and secondary markets all together. I think any bank, under the circumstance, that offers the option of Secondary Market, is not that bad. This thread is awash with similar or worse complaints by retail investors about the non-challant attitude of bank staff towards them in the bid to buy TBills.

Please be careful not to do anything that would make anyone lose his or her job; some still holding down their jobs do not know how nearly impossible to get another in a country where the labour market has vanished into oblivion. Abeg no vex dear.
.

NL1960:


If you are going through your account officer, stop. Just ask for the TB officer or you go to a branch that is not yours and ask for the TB officer.

I don't even know my account officer, although I have been trying to do this at the branch where I opened the account.

The bad part is that the second nearest branch of the bank is about 20-30 minutes away by bus.

U1:


I don't even know my account officer, although I have been trying to do this at the branch where I opened the account.

The bad part is that the second nearest branch of the bank is about 20-30 minutes away by bus.

Is this in Lagos?.

U1:


Ma'am, did you invest up to N250m?

You may be surprised by the question. But that's what some apparently clueless customer care agent told me I needed to invest in the secondary market. The person told me I can only do primary market with less than that amount.

If there were any limitations, such are more likely to apply to the primary market. I was aware that the minimum for that was announced at N50m months back. Still, people still do lower amount. So I knew the agent had to be clueless.

I'm amazed at how people seem to get secondary bills at Stanbic with relative ease. I went there four consecutive days two weeks ago for same, but it was one story or another as to why I can't get the TB.

I actually got the erroneous or deceptive customer care response after visits to bank failed to yield something positive. To think I opened the account recently solely for this purpose. Fund movement looks inevitable as things stand.

In as much as account officers in various bank or beaches can sometimes be mischievous, it is also very true that some TB officers in some banks and branches can be very clueless and in most cases would want to force their clueless opinions down your throat. In most cases what to do is that....

1. Have some idea of current news and happening in TB market before you go out there; so that if they are not inline you can put them through.

2. You could try and confirm who is actually in charge/ responsible for TB investment there..try to chat with him/her to know how knowledgeable he or she is in it. I know TB officer that just started investing for self and family not too long ago. She is just getting to be more interested in it. Also, I was in Wuse market branch in Abuja sometime around June 2017 to invest in secondary market and the dude there told me he has to call & confirm whereas before then any branch with active TB officer will just loggin their platform to see what's available provided there is network. The guy kept wasting my time with his cluelessness till after about 20mins. I left to Wuse Zone 5 branch and the lady there showed me what's available. In not less than 2mins.. I made my choice, filled the form and voilà... It was done.

3. Always avail yourself the opportunity to either go to other bank or branch if what you hear from the branch doesn't go in tandem with your prior knowledge or you do like some people here by posting their findings directly while in the bank. That however, could be unreliable sometimes as people that have answers/knowledge abt the questions may no be around to give inputs.

From personal experience, stanbic does both primary and secondary from 100k and above even after the CBN rule of 50m. The issue with stanbic is that for their secondary market in most branches around(Abuja) here. They'll have to call their Global Market to confirm if available and ;what rate and tenure. In FBN if there is network you are fine because right there and then they'll loggin and tell you what's available. You could only have issues with the secondary market with on Wednesday & Thursday of auction week because of auction and settlement.

TONY56:



If only you can read from page 1 to about page 300 or more, you will become a master of it and you are not likely to ask any question again

1 to 300 indeed.
How many did u read?

NL1960:

Is this in Lagos?.

Yes, but on the outskirts.

CBN Auctions N20b 191-Day Bills as Overnight Rate Falls to 28.67%
https://www.businesspost.ng/2017/10/17/cbn-auctions-n20b-191-day-bills-overnight-rate-falls-28-67/