ajeleomo:


Bros how did you arrive at 10.69% for stanbic? Is there is link to view it? Axa is said to be 12.05 from my chat with customer care

From my calculation
(today interest x 36500)/ principal

Yem0350:

I do get my interest on Friday and Monday.
I guess there is something wrong with your account
On Monday morning, I do get for the weekend

Same here. Interest for saturday and sunday is paid on monday. I have no issues with mansard so far.

Yem0350:

Using rate as a case study, as at today : Stanbic (10.69), Axa (12.07)
Using redemption rate : I am yet to redeem on stanbic, but axa takes Max of 24hrs.
Based on the two factors above, I think axa is better than stanbic (MY OWN RECOMMENDATION)
the only advantage stanbic has over axa is that the reinvest interest probably on weekly bases but axa don't reinvest until the end of the quarter.

But according to the link below, stanbic MMF is 11.55 as at 19/09/18

https://www.stanbicibtcfundsmanagement.com/mfprices

6ixgod:

But according to the link below, stanbic MMF is 11.55 as at 19/09/18

https://www.stanbicibtcfundsmanagement.com/mfprices

Yes, according to the website, maybe it is gross interest rate . But based on the actual interest I received today(net interest), it is 10.69. For some days, it has never reached 11%.
Note down what you have today and let us see what they will give tomorrow, you will see it will be different from the rate displayed on their site.

Hello,
Is Treasury Bills capital guaranteed like MMF?

Adayoung:
With the people's complain its like i will port to Axa oh, stanbic mmf keeps getting low and discouraging.

They also show you fake interest rate .
My calculations have never tallied with their stated interest rate .
This is one of the things I dislike when dealing in any business . Lack of transparency
I know what to do
But the frequent compounding of interest is cool though

Yem0350:

From my calculation
(today interest x 36500)/ principal

Bros today interest is yet to be paid as we speak but you speculated 10.69% earlier, reason why i asked you to provide a link for it. Lets try to give the real fact here in other not to mislead people. An humble advise, no disrespect

6ixgod:
Please can someone explain why these little amounts are being added as topups on my stanbic MMF app?

because you asked for your interest to be compounded.
Your new interest will be calculated from the sum of those little amounts and your original capital .
I hope you get me . Lol

6ixgod:

But according to the link below, stanbic MMF is 11.55 as at 19/09/18

https://www.stanbicibtcfundsmanagement.com/mfprices

Bros . Forget that 11.5 bullshit .
I always try to calculate it from time to time .
That’s not the true yield . These people are not transparent with their rate or charges .

Yem0350:

Yes, according to the website, maybe it is gross interest rate . But based on the actual interest I received today(net interest), it is 10.69. For some days, it has never reached 11%.
Note down what you have today and let us see what they will give tomorrow, you will see it will be different from the rate displayed on their site.

Yes , you’re very right .
My calculations have never tallied with their shitty interest .

ajeleomo:


Bros today interest is yet to be paid as we speak but you speculated 10.69% earlier, reason why i asked you to provide a link for it. Lets try to give the real fact here in other not to mislead people. An humble advise, no disrespect

I was only giving you the formula I used. Use any interest you like.
Note what you have today and tomorrow. Then, do the calculation. You will see that what they displayed on their site is never the true yield

hardeydhoying:
Hello,
Is Treasury Bills capital guaranteed like MMF?

Treasury Bills is more capital guaranteed than MMF. https://www.nairaland.com/878880/treasury-bills-nigeria

Yem0350:

I was only giving you the formula I used. Use any interest you like.
Note what you have today and tomorrow. Then, do the calculation. You will see that what they displayed on their site is never the true yield

ajeleomo:



How was this calculated? coz going by I = P x R x T/100 where Time =1 year =365days then
Interest per day = P x R /36500
I observed an interest of N30.79 on N100,000 principal
Therefore R = I x 36500/P = 30.79 x 36500/100,000 = 11.23835 approx. 11.24%

I stand to be corrected

I quite agree with you that it is not same interest displayed and it is same too for other MMF, Lets be reminded they all said that all charges are removed before your interest are paid hence no further charges are experienced on our account,
Also lets also be very sure what our Principal is and not use Amount in place of principal hence this will further reduce the interest rate.
Note that Amount = Principal + interest
Also to further determine Principal, reinvestment is done every 3 months and will we notice our interest restarting, so we should be sure of our principal when making calculation

See above my calculation based on yesterday interest

ajeleomo:



How was this calculated? coz going by I = P x R x T/100 where Time =1 year =365days then
Interest per day = P x R /36500
I observed an interest of N30.79 on N100,000 principal
Therefore R = I x 36500/P = 30.79 x 36500/100,000 = 11.23835 approx. 11.24%

I stand to be corrected

I got exactly 29.3 on 100000 for yesterday.
My calculation was also right based on the formula I used

ajeleomo:





I quite agree with you that it is not same interest displayed and it is same too for other MMF, Lets be reminded they all said that all charges are removed before your interest are paid hence no further charges are experienced on our account,
Also lets also be very sure what our Principal is and not use Amount in place of principal hence this will further reduce the interest rate.
Note that Amount = Principal + interest
Also to further determine Principal, reinvestment is done every 3 months and will we notice our interest restarting, so we should be sure of our principal when making calculation

See above my calculation based on yesterday interest

Axa gives correct interest oooo. It has always being accurate.
I know what principal means . I did it in primary school not to talk about sec school. It is the actual amount I invested. I never even use their so called reinvested interest but only the principal

Olohunjedalo:

Treasury Bills is more capital guaranteed than MMF. https://www.nairaland.com/878880/treasury-bills-nigeria

Thanks, I'll go through the thread right away

ajeleomo:



How was this calculated? coz going by I = P x R x T/100 where Time =1 year =365days then
Interest per day = P x R /36500
I observed an interest of N30.79 on N100,000 principal
Therefore R = I x 36500/P = 30.79 x 36500/100,000 = 11.23835 approx. 11.24%

I stand to be corrected

I don't know why I am getting lower rate from them. I will send them a mail tomorrow

Olohunjedalo:

Treasury Bills is more capital guaranteed than MMF. https://www.nairaland.com/878880/treasury-bills-nigeria

Please explain why you think Treasury Bills is more guaranteed than Mutual Funds (MMF)

dotcomnamename:


Please explain why you think Treasury Bills is more guaranteed than Mutual Funds (MMF)

Yes oo
We are here to learn

dotcomnamename:


Please explain why you think Treasury Bills is more guaranteed than Mutual Funds (MMF)

Lol
Federal Government of Nigeria issues the treasury Bills. The only way you can lost your money in treasury bills is if Nigeria cease to exist .
And all these asset management houses also invest most of the money market fund in treasury bills and federal government of Nigeria bonds.

I hope you get me .
The money you put in money market fund is invested mainly in Treasury Bills ,Federal Government of Nigeria bonds and a few commercial papers.
This is why the MMF interest rate hovers around treasury bills rates .and since treasury bills started to decrease from 18% last year ,MMF rates had to be decreasing with it too .
P.S: you can’t lost your money in money market fund too though

Yem0350:

I got exactly 29.3 on 100000 for yesterday.
My calculation was also right based on the formula I used

you and money sha... na bank you suppose dey work �

What is happening.
Stanbic have not added yesterday’s interest up till this moment

ajeleomo:


Reinvestment when the underlying asset matures means?

Can we also put ARM mmf in this comparison

*Underlying security I meant*

". This means that we will re-invest portions of the accrued interest that relate to matured securities in the Fund. For instance, once any of the underlying securities in the fund attains maturity, the accrued interest that pertains to such underlying security would be automatically reinvested on your Money Market Fund account"

I have only used Stanbic and AXA so I can't do a comparison of ARM

Olohunjedalo:

Treasury Bills is more capital guaranteed than MMF. https://www.nairaland.com/878880/treasury-bills-nigeria

This is total falacy, Sir. Both are capital guranteed. There's nothing like more guranteed

naijaobi:

This is total falacy, Sir. Both are capital guranteed. There's nothing like more guranteed

ikr

Olohunjedalo:
Lol
Federal Government of Nigeria issues the treasury Bills. The only way you can lost your money in treasury bills is if Nigeria cease to exist .
And all these asset management houses also invest most of the money market fund in treasury bills and federal government of Nigeria bonds.

I hope you get me .
The money you put in money market fund is invested mainly in Treasury Bills ,Federal Government of Nigeria bonds and a few commercial papers.
This is why the MMF interest rate hovers around treasury bills rates .and since treasury bills started to decrease from 18% last year ,MMF rates had to be decreasing with it too .
P.S: you can’t lost your money in money market fund too though

From the information here we can see AXA, ARM, Investment one MMF all having interest rate of 12% and above so what is the current interest rate for treasury bills that makes it more profitable?

EsanEmmanuel:
you and money sha... na bank you suppose dey work �

Smile

Yem0350:

Axa gives correct interest oooo. It has always being accurate.
I know what principal means . I did it in primary school not to talk about sec school. It is the actual amount I invested. I never even use their so called reinvested interest but only the principal

Bros i opened an account of N20,000 for my little baby on ARM this week and my first interest of N6.39 just came, Abeg help me calaculate the percentage interest they used coz their rep said interest was 12.2 as at yesterday but am not sure again if my formular is correct oooo or do they have their own private calculator they use that we dont know?
And please kindly show calculation for AXA based on yesterday too. i will really appreciate this coz am so ready to port oooo

ajeleomo:


Bros i opened an account of N20,000 for my little baby on ARM this week and my first interest of N6.39 just came, Abeg help me calaculate the percentage interest they used coz their rep said interest was 12.2 as at yesterday but am not sure again if my formular is correct oooo or do they have their own private calculator they use that we dont know?
And please kindly show calculation for AXA based on yesterday too. i will really appreciate this coz am so ready to port oooo

ARM gave you 11.66%
Axa is 11.99%

Yem0350:

ARM gave you 11.66%
Axa is 11.99%

Thanks i do appreciate this, We can all see we dont receive what we were told based on interest rates displayed. Yesterday you did say it was 12.07 and a customer service personal told me its 12.05 but according to you now its actually 11.99%.

Bros do you know if AXA still deduct the 1.25% Annual management fee?

ajeleomo:


From the information here we can see AXA, ARM, Investment one MMF all having interest rate of 12% and above so what is the current interest rate for treasury bills that makes it more profitable?

Lol , rates for Treasury bills depends .
But 364 days tenor hovers around 13% as at previous auction.
I will update you this week’s auction interest rates when people are debited between today and tomorrow.
And like I said your money that you put in MMF is still being invested in Treasury bills by ARM and co.

ajeleomo:


Thanks i do appreciate this, We can all see we dont receive what we were told based on interest rates displayed. Yesterday you did say it was 12.07 and a customer service personal told me its 12.05 but according to you now its actually 11.99%.

Bros do you know if AXA still deduct the 1.25% Annual management fee?

12.07 was the rate displayed yesterday for tue
11.99 was the rate displayed this morning for yesterday.
I hope you are cleared now.
All interest credited are net interest, so management fee has been deducted