Let's say my salary is 280K, GTBank says I can be loaned slightly higher than times 3 of my salary,

280 X 3 = 840

Let's say slightly higher than that is 1million

Interest will pay back 1.3% per month which is 13,000 per month.

If I pay back in 6 months, that's 13,000 X 6 = 78,000.

The reason is because I want to lock down my salary so that I don't spend it.

SO I WANT TO INVEST THE ONE MILLION INTO TREASURY BILL SO AS TO SAVE IT.

Please does it make sense?

Sorry if not clear enough.

Any ideas

incogni2o:
Let's say my salary is 280K, GTBank says I can be loaned slightly higher than times 3 of my salary,

280 X 3 = 840

Let's say slightly higher than that is 1million

Interest will pay back 1.3% per month which is 13,000 per month.

If I pay back in 6 months, that's 13,000 X 6 = 78,000.

The reason is because I want to lock down my salary so that I don't spend it.

SO I WANT TO INVEST THE ONE MILLION INTO TREASURY BILL SO AS TO SAVE IT.

Please does it make sense?

Sorry if not clear enough.

Why not invest in Zenith life assurance where you get 6% monthly for 2years

incogni2o:
Let's say my salary is 280K, GTBank says I can be loaned slightly higher than times 3 of my salary,

280 X 3 = 840

Let's say slightly higher than that is 1million

Interest will pay back 1.3% per month which is 13,000 per month.

If I pay back in 6 months, that's 13,000 X 6 = 78,000.

The reason is because I want to lock down my salary so that I don't spend it.

SO I WANT TO INVEST THE ONE MILLION INTO TREASURY BILL SO AS TO SAVE IT.

Please does it make sense?

Sorry if not clear enough.

No

fados4sure:

Why not invest in Zenith life assurance where you get 6% monthly for 2years

Will I get my Money back?

shockingist:

Will I get my Money back?

Yes na after two years but you can access half of the money in one year time

fados4sure:

Yes na after two years but you can access half of the money in one year time

You say 6%. I don't seem to believe you.

Meaning if I invest 5m I will get alert of 300K every month?

Are you sure?

shockingist:


You say 6%. I don't seem to believe you.

Meaning if I invest 5m I will get alert of 300K every month?

Are you sure?

If you don't understand, you asked questions.


The life assurance is done in such a way that if you have a salary account with Zenith Bank, you will be living specific amount in your account EVERY MONTH not lump some of money.


I for example, when I receive my salary with Zenith Bank, they will deduct #30,000 from my money and they will continue to deduct the money till 2years time.


After two years before I can have access to my #720,000 plus 6% of #30,000 for that 2years which is #43,200



At the end of two years b4 I can access the total money which is #763,000

I hope you understand now?

fados4sure:

If you don't understand, you asked questions.


The life assurance is done in such a way that if you have a salary account with Zenith Bank, you will be living specific amount in your account EVERY MONTH not lump some of money.


I for example, when I receive my salary with Zenith Bank, they will deduct #30,000 from my money and they will continue to deduct the money till 2years time.


After two years before I can have access to my #720,000 plus 6% of #30,000 for that 2years which is #43,200



At the end of two years b4 I can access the total money which is #763,000

I hope you understand now?

Thanks