sicily4u:
Like the topic says, only know about first bank with ,5%interest with minimum of 150k for 30days, so I need to know other banks

jjjjj2017:

You may need to try Stanbic IBTC. I don't know their minimum amount but their interest rate is 8.25% for monthly stuff & 8.5% for 3months plan. I only run fixed deposit with stanbic IBTC & what I posted is based on information given to me in the last 3months & that's the current rate they are giving me up until this minute.
Above all, fixed deposit is not a business, you can only put your excess cash there or in case of future use.

jjjjj2017:

You may need to try Stanbic IBTC. I don't know their minimum amount but their interest rate is 8.25% for monthly stuff & 8.5% for 3months plan. I only run fixed deposit with stanbic IBTC & what I posted is based on information given to me in the last 3months & that's the current rate they are giving me up until this minute.
Above all, fixed deposit is not a business, you can only put your excess cash there or in case of future use.

connectpoint:



Bro 5% on 150k is cool nau... if this rate is the current rate, then it's worth just dropping cash there

Damolux01:
why not try Treasury Bill...You can get 18.5 and its very safe.

jjjjj2017:

But stanbic offered something higher than that. besides, the calculation goes thus 5/100 X amount ÷ 12. hope you get the logic sir?

sicily4u:


Thanks for ur contribution, I just want to fix the money for future use, for about a month or more

connectpoint:


I can relate but why the divide by 12 ?...

thesicilian:

Where does one get practical information on investing in Treasury Bills? Which professional or office does one go to?

jjjjj2017:

but that's the normal calculation for fixed deposit irrespective of bank involved. Honestly I don't know why its so

connectpoint:


So if i want to fix 100k.. it is five divide by 100 multiple by 100 divide by 12... the result is 416.66.. This 416.6 is it the monthly increment ?

sicily4u:
So if some one fix 100k with 5% interest for 1month how much is he/,she expected at end of 30days

jjjjj2017:

yeah its kinda ridiculous

connectpoint:



Lol..When i have over100 projects I can invest the money... that's crap.

jjjjj2017:
lol

connectpoint:


I rather look at it in my bank account...

jjjjj2017:

but it won't yield kobo these days. I left more than 1m in my diamond bank account for more than amount without withdrawing a kobo due to the fact that I don't use it for transaction for that month although I do receive some payment to the account, instead of me to get any interest, my lovely diamond bank deducted 52naira or so as atm maintenance fee whereas fixed deposit could have fetch me 6k+ at least to buy foodstuff fixed deposit is only meant for keeping money for future project.

connectpoint:



I rather give a funds manager who will give me 30-40% conveniently on soft risk after a year than that crap...Do you know banks hire expert fund managers to help make money and they now pay peanuts... We are their donkeys... That's why GTB declared 160Billion after taxprofit even during a recession.. awon ole

jjjjj2017:

You are 100% correct, Nigerian banks is the biggest fraud.

connectpoint:



I rather give a funds manager who will give me 30-40% conveniently on soft risk after a year than that crap...Do you know banks hire expert fund managers to help make money and they now pay peanuts... We are their donkeys... That's why GTB declared 160Billion after taxprofit even during a recession.. awon ole

connectpoint:



The 65 Naira per withdrawal after three transactions... The commissions on online transfer, the complex loaning mafia-rism in the banking sector...alll I wish...With the situation in the country, almost seems there's no desire to set things straight..