Emmaesty:
Hi guys.

I initially wanted to open a mmf with FirstBank but it looked like it would require me to visit their office physically so I opted for United Capital.

I was filling out the form online and stopped where I was asked to upload my passport,utility bill and signature which I did not have handy.

I cancelled the application but lo and behold, i received a mail stating that my account has been activated.

It contained my new account number and requested me to pay in some accounts. I am really confused at this point cause the mail said nothing else.

Please help

For reference purpose,
You don't need to be in their office before you can fill form for FBNQuest
It can be done online

[quote author=Phoenix68 post=79642098][/quote]
IBTC MMF no longer require upload of evidence of payment. Just quote your account number on the description on your deposit slip/transfer form

Thanks emmasoft. But into what account will I pay the money into?

Good day All,

I have successfully opened an account with IBTC MMF. The interest started generating on Monday though the account was credited on Thursday last week.

Phoenix68:
Thanks emmasoft. But into what account will I pay the money into?

acct name : FIRST TRUSTEESS/IBTC MONE MKT
acct number: 9202476223
Bank: Stanbic IBTC

Many many thanks Emmasoft!

Seems the new top up option (Account No as description) of Stanbic MMF comes with delays. A top up done at 9am is yet to be reflected (6pm). Is that the way it works?

Hello house, I saw Axa rate @16.54 today, what's happening? What FBN rate presently?

yungestmoney:
Hello house, I saw Axa rate @16.54 today, what's happening? What FBN rate presently?

Its now 16.73%

Chudymario:
Seems the new top up option (Account No as description) of Stanbic MMF comes with delays. A top up done at 9am is yet to be reflected (6pm). Is that the way it works?

Last week Thursday i went to Stanbic to do top up and it did not reflect until 8pm.

If you make your payment before 12pm the top up will be given value the same day. But if the payment is made after 12pm value will not be given to it the same day until the next business day

yungestmoney:
Hello house, I saw Axa rate @16.54 today, what's happening? What FBN rate presently?

Was scared at first. However, I wanna hit it right. I'm definitely adding more money tomorrow during the work hours. Not minding the fact that my accrued interest has not been on since June 20th.

Trone:
Was scared at first. However, I wanna hit it right. I'm definitely adding more money tomorrow during the work hours. Not minding the fact that my accrued interest has not been on since June 20th.

Bro same with me, I spoke with their customer Care unit today & was informed they are Upgrading their system.

orpehyemmy:
Its now 16.73%

Can you confirm this

Chudymario:
Seems the new top up option (Account No as description) of Stanbic MMF comes with delays. A top up done at 9am is yet to be reflected (6pm). Is that the way it works?

Did mine on Friday before 9:00am, it didn't reflect till today(Tuesday) by 3pm. More than the 2 days they claimed not to talk of crediting same day if done before 12. I just don't like what I hate.

Good evening, house. I'm a corps member. And I have saved 80k so far. I want to invest this amount for 6 months and beyond. Please, how can I get myself started?

I wouldn't mind to do mutual funds also?

Guys please, how do I monitor daily interest rates for Stanbic mmf. Is there a website or something?

yungestmoney:
Hello house, I saw Axa rate @16.54 today, what's happening? What FBN rate presently?

FBN is 12.87 can you imagine!
https://fbnquest.com/asset-management/historical-funds/

234ng44uk:

FBN is 12.87 can you imagine!
https://fbnquest.com/asset-management/historical-funds/

Dats as of yesterday.

yungestmoney:

Dats as of yesterday.

Do you want their rate for a different date?

@ Ddglory just log in to stanbic ibtc mutual fund online and register or better still go any of stabic ibtc asset managers office close to you for guide.

234ng44uk:

FBN is 12.87 can you imagine!
https://fbnquest.com/asset-management/historical-funds/

So disappointing.

Is it possible to check their rate history like FBN

temi4fash:


So disappointing.

Is it possible to check their rate history like FBN

Rate history for Axamansard? No, they don't have rate history, you can only monitor the rate posted in their website and I can confirm that they pay exactly what it's displayed on their site. 16% plus would be the highest they've paid this year though, they've been at around 12.6 preciously.

kudos to you guys here...just stumble on this thread...I think I love what have read so far...pls aous how can I join the community...and which one is less stressful between the stanbic mmf and Fbn mmf...and which link can I use to join??

EDC Nigeria Money Market Fund(MMF):

This is an open ended mutual fund which invests strictly in short term money market instruments including treasury bills, high quality commercial papers, bankers’ acceptance and fixed deposit. The fund is a liquidity management tool that gives you highly attractive returns on your cash flow while ensuring that you still have the liquidity to meet your needs as they fall due. Income is distributed every quarter.

Major Features

· Short term money market instruments (T-bills, high quality commercial papers and fixed deposit)

· Portfolio Risk Profile: Conservative (low risk)

· Primary objective of the fund: To achieve a high level of income, preserve capital, maintain liquidity and pay out returns that reflect short term interest rates.

· Minimum Holding Period: 30 days (25% pre-liquidation charges before end of minimum holding period)

· Interest is distributed every quarter

· Free of withholding tax .

· Minimum Investment: N5,000.00



2. EDC Nigeria Fixed Income Fund(FIF):

This is an open ended mutual fund which invests strictly in low risk and high quality government and corporate bonds. The fund is most suitable for medium or long term cash investments and offers a stable income through the distribution of a semi-annual interest.

Major Features –

· Medium – long term cash investment (low risk and high quality government and corporate bonds)

· Income distribution is semi annually

· Portfolio Risk Profile: Conservative (low risk)

· Primary objective of the fund: to achieve a high level of income, preserve capital, maintain liquidity and pay out returns that reflect medium to long term interest rates.

· Minimum Holding Period: 90 days (25% pre-liquidation charges before end of minimum holding period)

· Free of withholding tax

· Minimum Investment: N 50,000.00 with additional investment in multiples of N10,000.00

234ng44uk:


Rate history for Axamansard? No, they don't have rate history, you can only monitor the rate posted in their website and I can confirm that they pay exactly what it's displayed on their site. 16% plus would be the highest they've paid this year though, they've been at around 12.6 preciously.

I noticed FBN has been hovering around 12. too this month

yungestmoney:
Hello house, I saw Axa rate @16.54 today, what's happening? What FBN rate presently?

What I saw now is 12.79%. Are you sure of what u said or how come the drastic drop?

It's just temporary for a day or two. All MMF are hovering between 12 and 13% for now.

yungestmoney:
Hello house, I saw Axa rate @16.54 today, what's happening? What FBN rate presently?

Good evening all

I went to Stanbic Bank yester to register for MMF, after filling the forms, the customer care representative told me that it might not be registered that day since it's already past 12pm, I waited the whole of today for confirmation mail and still nothing. Is that how they operate?

ikechukz:
I went to Stanbic Bank yester to register for MMF, after filling the forms, the customer care representative told me that it might not be registered that day since it's already past 12pm, I waited the whole of today for confirmation mail and still nothing. Is that how they operate?

Although your account it will be done. However, if you want quick response deal with Stanbic Asset Mgt directly. Passing through the bank is like going through a third party. It's true they are in the same group but when it comes to core business their priorities differ. You can always complete the forms and send it as attachment to the email (mutualfunds@stanbicibtc.com) provided on the website of Stanbic Asset Mgt.

emmasoft:

Although your account it will be done. However, if you want quick response deal with Stanbic Asset Mgt directly. Passing through the bank is like going through a third party. It's true they are in the same group but when it comes to core business their priorities differ. You can always complete the forms and send it as attachment to the email (mutualfunds@stanbicibtc.com) provided on the website of Stanbic Asset Mgt.

That's what I should have done, I'll go back there today to know what's up.