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Fixed Deposit Account 10 Million Naira - Investment (2) - Nairaland

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Which Bank Has The Best Rate For Fixed Deposit Account? / Which Bank Is Best To Use For Fix-deposit Account / Zenith Bank: Fixed Deposit Account (2) (3) (4)

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Re: Fixed Deposit Account 10 Million Naira by romero(m): 4:17pm On Dec 15, 2009
GTB is truely flexible and dependable.

From today, make it a duty to visit all the banks around you to confirm how much interest they will give on your deposit.
Re: Fixed Deposit Account 10 Million Naira by Nobody: 11:41pm On Feb 06, 2012
Roforofo:

@Geniusbami. Thanks for the info. I must say that I am so impressed with GTB and see why so many Nairalanders speak very highly of this bank. The money was deposited with them and I immediately received email notification of the deposit. I called my local branch to ask for the money to be fixed for 90days. I have online banking with GTB and within 2 mins of speaking to the branch the money was showing up on my online account with the tenor expiry date and the total interest to be added at maturity. This bank is good. I wish other companies at home can emulate them in terms of customer service and reliability. Na GTB for life o!!! grin

really like the bolded part above. That's what i'm interested in. Will give it a try ASAP; thanks!
Re: Fixed Deposit Account 10 Million Naira by oluks05: 9:35am On Sep 30, 2012
Pls which bank offers d best rate for fixed acct I need d info asap. Thanks in advance.
Re: Fixed Deposit Account 10 Million Naira by okine4real: 11:29am On Oct 02, 2012
mowaa: make no mistake in believing that you will be paid 13.5% in 90 days, the 13.5% is the % u will be paid per annum, so if the bank decides to give u 13.5% , then it means practically u will be paid 1.125%  per month i.e 13.5 divided by 12. So for 90 days which is 3 months u will get 3.375%

But you should know there is no fixed % a bank gives, it all depends on the amount and the power of your negotiating skills, but usually the range is 12-18% p.a, if u can negotiate for 18%, that will be paid 1.5% per month, which practically means 150,000 per month.

my question is this.if i fix 3M for a year. whats going to be the percentage and specific amount that would get to my pocket.
Re: Fixed Deposit Account 10 Million Naira by Okontami: 2:47pm On Oct 02, 2012
Guys, treasury bills is a cool way to make money. Try it
Re: Fixed Deposit Account 10 Million Naira by fasbio(m): 2:42pm On Jan 27, 2013
@ Roforofo

hello brother please i just want to ask you a question
Re: Fixed Deposit Account 10 Million Naira by vexing(m): 12:43pm On Feb 26, 2013
I also went to stanbic and they told me that I can be given 10.2% if I deposited 200k in fixed deposit. The interest is annual pro rata.
Re: Fixed Deposit Account 10 Million Naira by jerk: 1:47pm On Feb 26, 2013
who knows tht of fidelity cus d are giving me 4:5% pa on 1million.
Re: Fixed Deposit Account 10 Million Naira by ochukoccna: 2:31pm On Feb 26, 2013
jerk: who knows tht of fidelity cus d are giving me 4:5% pa on 1million.
Fidelity is low
TOO LOW
They offered me same about 2 and half weeks back
Access Bank offered 6 or 6.5% -can't recall (though their FRD product offers 11%)
Finally fixed with GTB for 7.5%
Do your math and go to the banks personally as you can get higher rates than that listed on the bank's website
Re: Fixed Deposit Account 10 Million Naira by ochukoccna: 3:10pm On Feb 26, 2013
okine4real:

my question is this.if i fix 3M for a year. whats going to be the percentage and specific amount that would get to my pocket.
You should get the percentage quoted seeing the percentage quoted is on yearly basis but many peoples PEOPLEs DONT KNOW this
If you have the money at hand walk into banks (personally GTBank gave me 7.5% on 2.4 mill which I'm rolling over for 3months) and find out
Ask the officer to calculate it for you (remove any tax&charges,) so you'd have an idea of how much is due to you
Also find out how easy it is to liquidate in case of financial emergency or economic instability
Although TBs would give a higher markup but I'm embracing the LEAST volatile investment platform before the time comes for my intended project.
Access bank also a has a FRD investment platform of 11% per year
The key is ASK ASK &ASK especially when the money is already in your account for money is the ONLY language understand

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Re: Fixed Deposit Account 10 Million Naira by hrmgr: 2:05pm On Mar 04, 2013
Equator Capital will give you 15% on N10 million for a year, our rates are competitive
Re: Fixed Deposit Account 10 Million Naira by feelamong(m): 9:37am On Mar 05, 2013
ochukoccna:
Fidelity is low
TOO LOW
They offered me same about 2 and half weeks back
Access Bank offered 6 or 6.5% -can't recall (though their FRD product offers 11%)
Finally fixed with GTB for 7.5%
Do your math and go to the banks personally as you can get higher rates than that listed on the bank's website

I recently place my funds with Fidelity Securities (A subsidairy of Fidelity Bank) and I got as much as 8%p.a
Re: Fixed Deposit Account 10 Million Naira by feelamong(m): 9:39am On Mar 05, 2013
hrmgr: Equator Capital will give you 15% on N10 million for a year, our rates are competitive

I know i could get higher rates here but then I stand a lot of risk just in case of any fraud by the management or some sort of liquidation.

I will rather place the funds with a bank or subsidiary of a bank and sleep with my eyes closed. undecided
Re: Fixed Deposit Account 10 Million Naira by hrmgr: 2:56pm On Mar 05, 2013
well as a business entity we operate on a going concern, our capital base is N1 billion so no fear my brother, come to the office and see for yourself. thanks

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Re: Fixed Deposit Account 10 Million Naira by Nobody: 6:49pm On May 29, 2013
Has anyone fixed with Sky bank Above 10m and what is the best rate.? Best rate i was giving was 9% for millions,

Are you all also Aware that rate also fluctuate after the 90 days ,and it's always drop lower and lower.

Assuming i fix 25M for 90 days at 9%,Does it means after the (3month) 90 days i get 2,250000 million naira ?? not really into this.Can anyone share more light , A brother has indeed been losing.

Finally all banks will give u better rate to start with.And after which u will be surprised at the way it drops after the roll over date.
Re: Fixed Deposit Account 10 Million Naira by maninmood(m): 9:55pm On May 29, 2013
timothy001: Has anyone fixed with Sky bank Above 10m and what is the best rate.? Best rate i was giving was 9% for millions,

Are you all also Aware that rate also fluctuate after the 90 days ,and it's always drop lower and lower.

Assuming i fix 25M for 90 days at 9%,Does it means after the (3month) 90 days i get 2,250000 million naira ?? not really into this.Can anyone share more light , A brother has indeed been losing.

Finally all banks will give u better rate to start with.And after which u will be surprised at the way it drops after the roll over date.


9% on 25million is 2,250,000 per year(12 months), divide that by 4, the result is your interest.

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