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Mutual Funds - Investment (174) - Nairaland

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Re: Mutual Funds by kryptem: 9:04pm On Jul 07, 2019
gold360:
Please I want to put in 200k for 30 days fixed deposit, most commercial banks are saying I will get a 6 percent interest.
Can some please help me and calculate what 6 percent represents here. Thanks

Dude, I would advise you to download the i-invest app on playstore and have full control of your investment right from your room and with good rate of ROI...

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Re: Mutual Funds by Umarzy(m): 10:04pm On Jul 07, 2019
igbizen:
Does stanbic ibtc money market deduct a % from ur capital if you withdraw before 30days?

Yeah.. 20% of the interest accrued
Re: Mutual Funds by igbizen(m): 1:10am On Jul 08, 2019
Umarzy:


Yeah.. 20% of the interest accrued
I mean if I put 100k in MMF, and after 20days, the total is now 103k. If I want to withdraw the 100k before the 30th day, what will be my fine. And how much will be credited into my bank account?
Re: Mutual Funds by Umarzy(m): 6:44am On Jul 08, 2019
igbizen:

I mean if I put 100k in MMF, and after 20days, the total is now 103k. If I want to withdraw the 100k before the 30th day, what will be my fine. And how much will be credited into my bank account?

After 20 days, the interest on the N100k will be like N695.89. But,let's assume it's even 3k, it will be 20% of N3k =N600 ,so instead of N103k to be in your account. You will have N102.4k...plus, i don't know if there's another fee to be deducted, like the VAT.

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Re: Mutual Funds by yak(m): 8:52am On Jul 08, 2019
I did a top up on my stanbic ibtc mutual fund app on Thursday 6:40am, uptill now, it has not reflected... Do I have to worry?
Re: Mutual Funds by Umarzy(m): 9:00am On Jul 08, 2019
yak:
I did a top up on my stanbic ibtc mutual fund app on Thursday 6:40am, uptill now, it has not reflected... Do I have to worry?

You don't have to worry. It will take two business days for it to reflect
Re: Mutual Funds by igbizen(m): 9:54am On Jul 08, 2019
yak:
I did a top up on my stanbic ibtc mutual fund app on Thursday 6:40am, uptill now, it has not reflected... Do I have to worry?
Next time do a transfer to their account number and put your MMF number in the remark. I did one on the 5th at 9am and it reflected that same day. I mean online transfer.
Account name: stanbic ibtc money market
Account number : 9202476223
Remark : 134.......

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Re: Mutual Funds by bikerboy1(m): 1:23pm On Jul 08, 2019
Please I need help understanding how the mutual fund interest works.

I did 400k MMF with FBNQ at 12.9%. Today is exactly 2 weeks I deposited into that account. But the interest accumulated for this 2 weeks is just #551.

Assuming the rate is 12.5% flat. Can I know the amount to get on daily basis from this 400k.

Thanks
Re: Mutual Funds by donrabii: 3:02pm On Jul 08, 2019
FBN Quest yet to credit interest since Friday. what's really going on ?
Re: Mutual Funds by knighteengale: 3:18pm On Jul 08, 2019
bikerboy1:
Please I need help understanding how the mutual fund interest works.

I did 400k MMF with FBNQ at 12.9%. Today is exactly 2 weeks I deposited into that account. But the interest accumulated for this 2 weeks is just #551.

Assuming the rate is 12.5% flat. Can I know the amount to get on daily basis from this 400k.

Thanks

₦400,000 * 0.125 = ₦50,000 pa (365days)
₦50,000/365 = ₦136.99 per day

For two(2) weeks;
₦136.99 * 10days = ₦1,370

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Re: Mutual Funds by Olonseh: 3:19pm On Jul 08, 2019
You should get something in the region of 140 naira daily at 12.5% rate. As per 551 naira, your account probably wasnt activated until recently and possibly your accrued interest over the weekend is yet to reflect.

bikerboy1:
Please I need help understanding how the mutual fund interest works.

I did 400k MMF with FBNQ at 12.9%. Today is exactly 2 weeks I deposited into that account. But the interest accumulated for this 2 weeks is just #551.

Assuming the rate is 12.5% flat. Can I know the amount to get on daily basis from this 400k.

Thanks

1 Like

Re: Mutual Funds by 234ng44uk(m): 3:23pm On Jul 08, 2019
donrabii:
FBN Quest yet to credit interest since Friday. what's really going on ?

Balancing their book for the end of second quarter
Re: Mutual Funds by bikerboy1(m): 3:37pm On Jul 08, 2019
knighteengale:


₦400,000 * 0.125 = ₦50,000 pa (365days)
₦50,000/365 = ₦136.99 per day

For two(2) weeks;
₦136.99 * 10days = ₦1,370

Thank you. Very well understood now.

Is there any reason why you multiplied by 10 days instead of 14 days which makeup two weeks.
Do they consider only working days?

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Re: Mutual Funds by yak(m): 3:58pm On Jul 08, 2019
igbizen:

Next time do a transfer to their account number and put your MMF number in the remark. I did one on the 5th at 9am and it reflected that same day. I mean online transfer.
Account name: stanbic ibtc money market
Account number : 9202476223
Remark : 134.......


OK!!
THANKS FOR D INFO
Re: Mutual Funds by temi4fash(m): 6:32pm On Jul 08, 2019
234ng44uk:


Balancing their book for the end of second quarter

They have also not updated the interest rate in 3 days
Re: Mutual Funds by Phoenix68: 7:04pm On Jul 08, 2019
Good evening my people.

A quick question to those with Stanbic MMF or those who know: if for example, my available balance is #5258, and interest is #400, am I right in assuming that my total money is #5258?
Re: Mutual Funds by freeman67: 7:20pm On Jul 08, 2019
yak:



OK!!
THANKS FOR D INFO

And if you are using that method of top-up(transfer to their account), be sure you do before 12:00pm of the week days. If not it may not be credited that day...
Re: Mutual Funds by deleson: 9:03am On Jul 09, 2019
Something is wrong with FBN.
Re: Mutual Funds by Nobody: 9:11am On Jul 09, 2019
deleson:
Something is wrong with FBN.

Something like
Re: Mutual Funds by Deknight45: 9:24am On Jul 09, 2019
DAILY PRICE LIST FOR MUTUAL FUNDS ;

Re: Mutual Funds by temi4fash(m): 11:26am On Jul 09, 2019
deleson:
Something is wrong with FBN.


Am not understanding them again oo...

For the past few days, I have not been understanding them
Re: Mutual Funds by Pr0cter: 11:43am On Jul 09, 2019
Please I'll like to make an enquiry. Please is it advisable to have two mutual fund account from different investment firms. I have a mutual fund MMF with Stanbic ibtc and they wants to open another one with investment one. Would you advice me to open another one or I should top up the fund in my Stanbic ibtc MMF account since their interest rate hovers around the same values with minimal difference
Re: Mutual Funds by reservd(m): 12:40pm On Jul 09, 2019
deleson:
Something is wrong with FBN.
Nothin is wrong, hasn't everything been resolved now?
Re: Mutual Funds by MyPicsSaysItall: 1:20pm On Jul 09, 2019
emmasoft:

mutualfunds@stanbicibtc.com and copy oluwaseun.abisoye@stanbicibtc.com
Good afternoon, I want to ask, after scanning and sending the form and my documents, when can I deposit my money?
Re: Mutual Funds by glorie1414: 3:59pm On Jul 09, 2019
You can sign him up to become an irecharge vendor which is a small/medium scale business that he can manage. My retired uncle and his wife does this business and other seniors to. You can visit their website www.irecharge.com.ng to learn more about the business.




Abdin1:
My father doesn't know about all these things; he's not very literate, and of course whatever I'll do will be with his consent. Thank you for your response sir.
Re: Mutual Funds by deleson: 5:28pm On Jul 09, 2019
As at this morning, they had not published the interest rates since the quarter began.

My interest on my investment has been terribly low not even with the reinvestment of the accrued interest.

Well, I raised these concerns to my account manager via an email. She called and offered explanation that they’re balancing their books hence the hitches.

We keep our fingers crossed.

deleson:
Something is wrong with FBN.

reservd:

Nothin is wrong, hasn't everything been resolved now?

temi4fash:



Am not understanding them again oo...

For the past few days, I have not been understanding them

Asleykene:


Something like
Re: Mutual Funds by temi4fash(m): 6:57pm On Jul 09, 2019
deleson:
As at this morning, they had not published the interest rates since the quarter began.

My interest on my investment has been terribly low not even with the reinvestment of the accrued interest.

Well, I raised these concerns to my account manager via an email. She called and offered explanation that they’re balancing their books hence the hitches.

We keep our fingers crossed.








Let keep our fingers crossed.

Has anyone tried this farm investment??
Re: Mutual Funds by moneywoman74: 7:17pm On Jul 09, 2019
With FBN, the fact is that i have not been able to login to FBN edge for more than two weeks,as the report i keep getting is that access has been denied, i have drew their attention severally on that, even through out today they told me to keep trying forget password which i have been doing and has not receive any OTP, called them, they said that network is poor, that should keep trying.

I wonder.
Re: Mutual Funds by rOsy247(f): 8:39pm On Jul 09, 2019
Pr0cter:
Please I'll like to make an enquiry. Please is it advisable to have two mutual fund account from different investment firms. I have a mutual fund MMF with Stanbic ibtc and they wants to open another one with investment one. Would you advice me to open another one or I should top up the fund in my Stanbic ibtc MMF account since their interest rate hovers around the same values with minimal difference

Yes you can. I want to open one with them as well.
Re: Mutual Funds by elothaddi(m): 8:58pm On Jul 09, 2019
It's ok to have more than 1 or 2 MMF account with different companies if you have the time to monitor them. Meanwhile your query says ''and they want to open another ......'' Who is the they ?


Pr0cter:
Please I'll like to make an enquiry. Please is it advisable to have two mutual fund account from different investment firms. I have a mutual fund MMF with Stanbic ibtc and they wants to open another one with investment one. Would you advice me to open another one or I should top up the fund in my Stanbic ibtc MMF account since their interest rate hovers around the same values with minimal difference
Re: Mutual Funds by Pr0cter: 1:15am On Jul 10, 2019
elothaddi:
It's ok to have more than 1 or 2 MMF account with different companies if you have the time to monitor them. Meanwhile your query says ''and they want to open another ......'' Who is the they ?




I mistakenly typed "they" instead of "then"

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