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Nairaland Forum / Nairaland / General / Business / Bank Customers, Investors Shun Deposits For Treasury Bills (21634 Views)
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Re: Bank Customers, Investors Shun Deposits For Treasury Bills by davodyguy: 2:03pm On Aug 07, 2017 |
Bizibi: TB is from FG not zenith or UBA. The banks are middle men cos FG will not collect money from you directly |
Re: Bank Customers, Investors Shun Deposits For Treasury Bills by Bizibi(m): 2:07pm On Aug 07, 2017 |
davodyguy:OK,I will go through the banks to invest in it......thanks |
Re: Bank Customers, Investors Shun Deposits For Treasury Bills by mark0020(m): 2:08pm On Aug 07, 2017 |
[quote author=Acidosis post=59235220] 365 days, not 60 days. Available tenors on FG treasury bills are: 3 months, 6 months and 1 year. Peradventure you're able to get 18% on a 3 month tenor, your interest still wouldn't be 180k. Rather, you'd get 180k/4 = N45k; 18% on a 6 month tenor will fetch you 180k/2 = N90k. Its a compound interest thing. Do not think N1m at 18% interest rate will get you 180,000 in 3 months or 6 months.. This isn't MMM. That will only happen when you inject your N1m for a whole year (365 days). For instance, if you decide to invest N1m at 18%, 365 day tenor, you will get about N180,000 interest almost immediately, your principal (N1m) would be paid back, UNFAILINGLY, at the 365th day. Your bank is only an agent/intermediary between you and the apex bank (CBN). Banks are not i/c of T-Bills, that's why many bankers don't know how it works, some that have T-Bills knowledge find it difficult to advise their customers. All things being equal, no banker will encourage a customer to invest in T-Bills, this is the reason customers need to be knowledgeable and take charge of their hard earned monies. I really understand now, i put more than two million in fd in gt bank, now i just regretted but please i want to ask if i put money into tb, will they give me the intrest before the time ? Thanks |
Re: Bank Customers, Investors Shun Deposits For Treasury Bills by mark0020(m): 2:09pm On Aug 07, 2017 |
really understand now, i put more than two million in fd in gt bank, now i just regretted but please i want to ask if i put money into tb, will they give me the intrest before the time ? Thanks |
Re: Bank Customers, Investors Shun Deposits For Treasury Bills by LordofNaija: 2:14pm On Aug 07, 2017 |
dunkem21:insurance or what? 1 Like |
Re: Bank Customers, Investors Shun Deposits For Treasury Bills by Master19: 2:14pm On Aug 07, 2017 |
Of course it is expected. if you walk up to your account officer and tell him or her that you want to subscribe for treasury bill, you will see how uncomfortable he/she will be and will try to convince you to go for fixed deposit rather. They can only step up their game or hope that the interest rates of TB falls, but the latter won't happen any time soon |
Re: Bank Customers, Investors Shun Deposits For Treasury Bills by Acidosis(m): 2:19pm On Aug 07, 2017 |
mark0020: N2m in FD? Sh!t, I'm regretting that with you bro. If you put N2m in TBills (1 year tenor), your interest would be paid almost immediately while your principal would be returned at the end of the tenor. 1 Like |
Re: Bank Customers, Investors Shun Deposits For Treasury Bills by mark0020(m): 2:25pm On Aug 07, 2017 |
Acidosis:Thanks bro, i will have to stop it thats about 350k? |
Re: Bank Customers, Investors Shun Deposits For Treasury Bills by meetchandus(m): 2:25pm On Aug 07, 2017 |
For those interested in getting more knowledge of treasury bills,here is the thread https://www.nairaland.com/878880/treasury-bills-nigeria 1 Like |
Re: Bank Customers, Investors Shun Deposits For Treasury Bills by Greenbullet(m): 2:39pm On Aug 07, 2017 |
davodyguy:wow |
Re: Bank Customers, Investors Shun Deposits For Treasury Bills by DinoP: 2:45pm On Aug 07, 2017 |
NOTE: "364 instrument...oversubscribed by N91.1billion". I don't understand our model of economy. I must first conceed that the investors have the right to invest their funds wherever they wish. But one easily knows that whatever money the Nigeria govt raises through tresury bill goes to a. payment of civil servant's salaries, b payment of entitlments of public office holder. c. repayment of loans and interest on loans both domestic and foreign. These are clearly unproductive spendings. Imagine if institutional investors would channel N91.1billion to agricultural ventures which can yield steady flow of income (yes! foreign exchange) even in the short run. I takes less than 364 days to grow yam, castor seed, sesame seed etc. This is just what I think. 2 Likes |
Re: Bank Customers, Investors Shun Deposits For Treasury Bills by mykel25(m): 2:50pm On Aug 07, 2017 |
CarlosTheJackal: I guess d percentage is in per annum On 1M it ll be 15k in this case |
Re: Bank Customers, Investors Shun Deposits For Treasury Bills by dunkem21(m): 3:03pm On Aug 07, 2017 |
LordofNaija: Yes.. The new innovation of the industry. Most people here think of only the interest accrued on their capital but we are offering interest + extra life package to keep our customers assured. Safety first! |
Re: Bank Customers, Investors Shun Deposits For Treasury Bills by Kala11(m): 3:06pm On Aug 07, 2017 |
How much is the minimum amount one can invest on TBs? |
Re: Bank Customers, Investors Shun Deposits For Treasury Bills by Aura2(f): 3:15pm On Aug 07, 2017 |
DinoP: Reasonable position you have, you only forgot that the debt is short term and can only carter for short term needs, unless you want to tell us that the so called Agro ventures is short term as well. 1 Like |
Re: Bank Customers, Investors Shun Deposits For Treasury Bills by murphyrichy(m): 3:17pm On Aug 07, 2017 |
davodyguy:Thanks. i will go for it. |
Re: Bank Customers, Investors Shun Deposits For Treasury Bills by LordofNaija: 3:18pm On Aug 07, 2017 |
dunkem21:which coy is that? |
Re: Bank Customers, Investors Shun Deposits For Treasury Bills by VickyRotex(f): 3:34pm On Aug 07, 2017 |
ajebuter: I gats to think about it |
Re: Bank Customers, Investors Shun Deposits For Treasury Bills by dunkem21(m): 3:34pm On Aug 07, 2017 |
LordofNaija: American International Coy.. We ensure you live LIFE like d Americans |
Re: Bank Customers, Investors Shun Deposits For Treasury Bills by SweetJoystick(m): 3:37pm On Aug 07, 2017 |
skarlett:You no go school? |
Re: Bank Customers, Investors Shun Deposits For Treasury Bills by dunkem21(m): 3:45pm On Aug 07, 2017 |
SweetJoystick: Harsh. Most times, you don't know these things if you never do am. 1 Like |
Re: Bank Customers, Investors Shun Deposits For Treasury Bills by SweetJoystick(m): 3:47pm On Aug 07, 2017 |
dunkem21:Lol the words used in the write up are not ambiguous nau, it's even stated in the write up that they are going for treasury bills now because it's rate is higher and customers can't get that rate when money is deposited in accounts or fixed 2 Likes |
Re: Bank Customers, Investors Shun Deposits For Treasury Bills by dunkem21(m): 3:51pm On Aug 07, 2017 |
Kala11: You can buy for as low as N1,000 and in multiples of N1,000 thereafter. However, Banks typically accept minimum purchases of N100,000 |
Re: Bank Customers, Investors Shun Deposits For Treasury Bills by LordofNaija: 3:53pm On Aug 07, 2017 |
dunkem21:Haba mallam for Naija abi USA |
Re: Bank Customers, Investors Shun Deposits For Treasury Bills by davide470(m): 3:59pm On Aug 07, 2017 |
skarlett:You are learning fast! Basically, it is all the Tiered Banks that are not comfortable. Fixed deposit funds resides with the bank and they can make more money from your money, but Treasury bills funds goes to the CBN. 2 Likes 1 Share |
Re: Bank Customers, Investors Shun Deposits For Treasury Bills by dunkem21(m): 4:02pm On Aug 07, 2017 |
LordofNaija: For Naija here, bros. Una dey call am AIICO insurance here, some dey call am ALICO abi ALIKO sef ..Wanna be an American?.. |
Re: Bank Customers, Investors Shun Deposits For Treasury Bills by Acidosis(m): 4:08pm On Aug 07, 2017 |
mark0020:Exactly 360k 1 Like |
Re: Bank Customers, Investors Shun Deposits For Treasury Bills by dunkem21(m): 4:09pm On Aug 07, 2017 |
davide470: Don't spoil* their business please. Remember, it is from those money that they pay salaries, render services and initiate cooperate responsibilities. |
Re: Bank Customers, Investors Shun Deposits For Treasury Bills by ninetiethcrown7(m): 4:13pm On Aug 07, 2017 |
dunkem21: so what is it you are doing that banks cannot do, are you trading in stocks and commodities or your are doing pure jazz.... which one? |
Re: Bank Customers, Investors Shun Deposits For Treasury Bills by davide470(m): 4:15pm On Aug 07, 2017 |
dunkem21:Bruv, In a way, they actually make more money from T-bills than Fixed Deposit. FD increases their asset base in terms of deposit and that is a bragging right. Also, majority of their income comes from FX Transactions (Non-Interest Income) So, i know not what you say. |
Re: Bank Customers, Investors Shun Deposits For Treasury Bills by maasoap(m): 4:29pm On Aug 07, 2017 |
CarlosTheJackal:18% in one year 17% in six months 13% in three months |
Re: Bank Customers, Investors Shun Deposits For Treasury Bills by Mergic(m): 4:45pm On Aug 07, 2017 |
CarlosTheJackal: These figures are not exact ...The rates are per anum and are calculated on a pro rata basis.. By implications, for a 60 days TBILLS selling at 18% you are manipulating the face value by (18%*60/365) |
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