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Nairaland Forum / Nairaland / General / Investment / This Is Bad News For Fixed Deposit Holder (87882 Views)
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Re: This Is Bad News For Fixed Deposit Holder by AceVentura: 11:28pm On Oct 18, 2015 |
The purported news from CBN is false. I'm with one of the new generation banks & I can categorically tell u that your bank is ripping u off. I have a deposit with Stanbic & the rate is almost 10%. 2 Likes |
Re: This Is Bad News For Fixed Deposit Holder by realnas(m): 11:31pm On Oct 18, 2015 |
Irrespective of what pple might think of the nigerian stock exchange I will maintain my stance that the place to generate wealth that will take care of you and your family is.andStill and the stock market ! A situation where an individual has 5 million naira that person can walk into any brokerage of his choice [dem yapa 4 V.I ] open a brokerage account with 50 k and plough that money into dangote cement . First bank, these r companies that pay juicy dividends it is well known that fbn hav been paying dividends since the 1980s if u add the bonuses they giv their shareholders and also put into consideration the power of compounding u are on ur way to livin a veri comfortable life knowing veri well that ur money is workin 4 u and nt the other way round as for gan cement it is the largest capped stock on the nse ,pays 6 naira dividendand it is trading at a reasonanle pe ratio my brothers and sisters forget about all these fixed deposit poo and invest ur money into the nse.ie after doing your homework of researching good companies that r structurally sound and pay dividends consistently |
Re: This Is Bad News For Fixed Deposit Holder by chyket(m): 11:35pm On Oct 18, 2015 |
I dont believe this because the implementation of the T.S.A has taken away 1.3trillion naira from the commercial banks to the CBN and there is already a brewing liquidity crisis.The cash reserve ratio with the CBN has already been cut down to manage the crisis,so it will be very damaging then to also cut the fixed deposit rate at this point. |
Re: This Is Bad News For Fixed Deposit Holder by HAH: 11:38pm On Oct 18, 2015 |
Any rate given to you that is not equal or above inflation rate is a loss. |
Re: This Is Bad News For Fixed Deposit Holder by franktolk(m): 11:42pm On Oct 18, 2015 |
The rate quoted in loan and deposit agreements by banks is called Nominal interest rate which is as stated below nominal rate = real interest rate + inflation rate Its the inflation rate in the country that actually determines what the nominal rate of interest will be . as long as the inflation rate is not below 3% no bank that is into business to make profit will pay an interest rate or return on an Investment (ROI) that will be below or at par with the current rate of inflation . |
Re: This Is Bad News For Fixed Deposit Holder by Nobody: 11:46pm On Oct 18, 2015 |
Bj5all: My dear, better carry your money go make better investment because the opportunity cost of it lying down in the back with that ridiculous interest rate is going to be greater and in reality cost you more. I'm an economist by the way. |
Re: This Is Bad News For Fixed Deposit Holder by LondonCool(m): 11:46pm On Oct 18, 2015 |
The news isn't plausible. The CBN doesn't set fixed deposit rates. The current NIBOR tenor rates doesn't reflect this change either. 1 Like |
Re: This Is Bad News For Fixed Deposit Holder by Nobody: 11:53pm On Oct 18, 2015 |
Sorry, but this is old news.Guess you are not conversant with this.Been[color=#006600][/color] applicable for over 24 months,should not make front page at all. Bj5all: |
Re: This Is Bad News For Fixed Deposit Holder by PraiseDLord: 11:59pm On Oct 18, 2015 |
feelamong:Is 10.5% your defination of crash on a completely riskless investment?? Then u can try forex! 1 Like |
Re: This Is Bad News For Fixed Deposit Holder by MKO4ever(m): 12:12am On Oct 19, 2015 |
ogunyooye:Only the staff of Sterling bank will not know what is happening in his industry. Imagine news since Friday and you only just going to find out when you get to the office 2moro. 2 Likes |
Re: This Is Bad News For Fixed Deposit Holder by tunergy(m): 12:22am On Oct 19, 2015 |
Dexpro: Did you check the date Op opened this thread? |
Re: This Is Bad News For Fixed Deposit Holder by obiak4(m): 12:42am On Oct 19, 2015 |
Caracta:yea it's true thank jah have always prefered tbills over fixed deposite for reasons best know to me though there was going to be a meeting btw cbn and banks directors to review mpc,minimum cash deposite before reviewing fixed deposite and other investment ........ Cbn shoulf try and aviod all this quick fixed measures just saying my 2cent |
Re: This Is Bad News For Fixed Deposit Holder by obiak4(m): 12:45am On Oct 19, 2015 |
feelamong:feelamong it still better pass fixed deposite na u know tbill upfront payment bla bla bla u knw na |
Re: This Is Bad News For Fixed Deposit Holder by obiak4(m): 12:47am On Oct 19, 2015 |
SleekReek:sleek u knw getting dollars now is very hard than passing jamb lolz |
Re: This Is Bad News For Fixed Deposit Holder by obiak4(m): 12:54am On Oct 19, 2015 |
Adesiji77:what of if the bank decide to play skiibi or saraki's hand touch d money and the government refused to allow us to exchange or hold legal dollars hmmmm this body odor don dey too much oooo baba use hausa perfume na enough pun |
Re: This Is Bad News For Fixed Deposit Holder by tunesoft(m): 12:57am On Oct 19, 2015 |
Omooo......maka why now, I don die....so my fixed money na waste of time now...jeez..wey my calculator |
Re: This Is Bad News For Fixed Deposit Holder by ifyan(m): 1:13am On Oct 19, 2015 |
Bj5all: Good one |
Re: This Is Bad News For Fixed Deposit Holder by USAutoBuy(m): 1:59am On Oct 19, 2015 |
Martins301: Beg to disagree. A high deposit rate translates to high borrowing rates for the business people. If banks are paying 15% for example, they will have to lend out at about 20% so that they can cover cost and make money. When this policy goes across the board, depositors have no choice and will fall in line. And if you still think your money is safer under your mattress, by all means go right ahead You will find out soon 1 Like |
Re: This Is Bad News For Fixed Deposit Holder by Nobody: 2:12am On Oct 19, 2015 |
bumi10:I'm not talking professionally at all...but I think ppl have different reasons 4 opening FDs account...Some might just have some amount of money they'd rather have stacked away somewhere and untouched..It doesn't have to mean they don't have other investments. And 4 some others,perhaps what they have is too small to start up any meaningful investment...say a hundred thousand, so they just keep it aside until they can think up sth beneficial to do with it,or better still, save up some more to augment the little they had. #I'm just saying# U can put me straight on any wrong notion. I'm willing to learn. |
Re: This Is Bad News For Fixed Deposit Holder by ITSaWRAPPP: 2:16am On Oct 19, 2015 |
Treasury bills is sure the better option expect that the TB rate has also crashed and may even crash further come this Thursday when the next bidding would be taking place. Fellow Nairalanders, please check out our incredible offer below. Let's dress you for your dream job, wedding, interviews and special events
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Re: This Is Bad News For Fixed Deposit Holder by Nobody: 2:18am On Oct 19, 2015 |
benpedro:Because at some point they'll disappear with their money? |
Re: This Is Bad News For Fixed Deposit Holder by Nobody: 2:18am On Oct 19, 2015 |
benpedro:Because at some point they'll disappear with his money? 1 Like |
Re: This Is Bad News For Fixed Deposit Holder by aadejesu: 2:30am On Oct 19, 2015 |
Bj5all: I also work in a bank, and I can tell you categorically that I helped a customer fix 10million for 90 days @ 10%. Call me tomorrow on 08099337763 and we can talk about the best rates in the industry for your investment 1 Like |
Re: This Is Bad News For Fixed Deposit Holder by Truckpusher(m): 2:42am On Oct 19, 2015 |
Bj5all:That awkward moment when you read a dumb comment and some folks are hitting a like ,as in seriously ? so what then happens to serious savers who wants to save against tomorrow ? and the same Govt is making an economic policy of currency strangulation ? Ya'll need to keep quiet and stop making dumb people dumber. 1 Like |
Re: This Is Bad News For Fixed Deposit Holder by Truckpusher(m): 2:44am On Oct 19, 2015 |
Bj5all:Welcome to voodoo economics/economy from Buhariconomics of the planet Nibiru,the planet of an alien race. |
Re: This Is Bad News For Fixed Deposit Holder by Honadeadek(m): 3:05am On Oct 19, 2015 |
The bitter truth is lending has dropped as most Banks are not lending to State civil servant as a result of delay salary payment and in this case most banks are running at loss mopping up deposit without lending. I can confirm CATHEGORICALLY from the rate adviced as at Friday that investment exceeding 100 million even comes with interest rate of 1%. Although the new rate doesnt affect existing investment but it will only affect deposits to be rolled over or a new one. |
Re: This Is Bad News For Fixed Deposit Holder by t2luv1: 3:43am On Oct 19, 2015 |
Bj5all: Now I know why banks charge crazy rate when loaning out money in that country. How one can expect to make 10% for 60 days on deposit in beyond comprehension. Annual interest charge in USA is between 1.9% - 3% and the bank then turn around and pay .75% to 1.25% to depositors. How do your expect the economy to expand with those kind of rates. No wonder that country in in such a bad situation. No logic to anything. |
Re: This Is Bad News For Fixed Deposit Holder by opalu: 3:53am On Oct 19, 2015 |
Why on earth would you fix money in bank and get 10% interest in the first place? Always tie your money to a rock-solid real estate development that will guarantee you 25% Interest. The reason is simple: With such investment you will SEE the value that your money has created in terms of physical structures there is no way your money can varnish into thin air thru a policy made by CBN as in deposit or varnish thru on speculation by some people as in shares and bonds. |
Re: This Is Bad News For Fixed Deposit Holder by GboyegaD(m): 4:03am On Oct 19, 2015 |
Hope banks will crash down interest rate on risk assets otherwise, CBN has only made monies for the bank and made things worse. |
Re: This Is Bad News For Fixed Deposit Holder by Youngzedd(m): 4:13am On Oct 19, 2015 |
SleekReek: |
Re: This Is Bad News For Fixed Deposit Holder by okitikpo: 4:50am On Oct 19, 2015 |
But something is definitely not adding up in what the OP put up there. How can interest rate for 30 days be higher than 60 days. OP are you sure you got the proper gist! 1 Like |
Re: This Is Bad News For Fixed Deposit Holder by PoosPoos: 5:14am On Oct 19, 2015 |
Dis Buhari sef!na know know go killam! :- |
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