VEHINTOLAR:

FD - Fixed Deposit
TD - Term Deposit.
Fixed deposit, also known as an FD, is an investment instrument offered by banks, as well as non-banking financial companies (NBFC) to their customers to help them save money. With an FD account, you can invest a sizeable amount of money at a predetermined rate of interest for a fixed period. Term Deposit is a form of fixed deposit too except that it has shorter investment period.

The CBN periodically sends what is known as Rate advisory sheet to all the Deposit Money Banks (Commercial Banks) stating all corresponding rates payable to different categories of funds invested by the banks' customers. The trick is this,if the rate is high,people will be encouraged to deposit their excess cash for save keeping and on the other hands,if the rate is low,it discourages people from investing in any of the aforementioned investment instruments.

I hope I try sha !

You overtried.

In fact, you deserve an Olympic gold medal in Economics.

I really appreciate

bluefilm:


You overtried.

In fact, you deserve an Olympic gold medal in Economics.

I really appreciate

Many thanks bro.

Nigerialabalaba:

Olodo, MPR raise na short term monetary instrument to rein in rising inflation. E dey different from fiscal policies. As inflation dey rise so, sensible cbn go raise interest to encourage more people to save and reduce d amount of naira chasing finite goods.
school u no go u dey hia dey waste ur life away with idleness. shiorr.

With dis una idleness ehn, d suffer wey dey wait for some of una in old age ehn. I no go pity una. Awon lazy empty headed yoots gbogbo. Na only stupid ponzi crypto una brain fit understand. shiorr

You also forgot that it also means small businesses will now borrow for higher interest rates,in other words discouraging and killing small businesses ,cause job loss from these failing small businesses, cause cash crunch which all of this in effect bastardises purchasing power of the people which in effect destroys small business patronage?
Oversabi weh no get sense.

Really

SeaTrade:
You also forgot that it also means small businesses will now borrow for higher interest rates,in other words discouraging and killing small businesses ,cause job loss from these failing small businesses, cause cash crunch which all of this in effect bastardises purchasing power of the people which in effect destroys small business patronage?
Oversabi weh no get sense.

Olodo, u dey read too much romance and u don show say u no be business owner.
most small businesses in Nigeria no dey borrow from banks abeg. Besides, I don tell u, dis na temporary thing. It can still change next month if dem don make progress after d primaries of d political parties.

You're raising cost of borrowing but keeping savings rates low?
Is that how to stimulate an ailing economy?

more woes to the people... this government wants to make Nigeria rich at all cost even if it means Nigerians get poorer in the process click the link below to learn a few tricks about money making

Nigerialabalaba:

Olodo, u dey read too much romance and u don show say u no be business owner.
most small businesses in Nigeria no dey borrow from banks abeg. Besides, I don tell u, dis na temporary thing. It can still change next month if dem don make progress after d primaries of d political parties.

Ridiculous....

This will favour foreign investors

Buharidgeneral:

You haven't answer him bros

Please feel free to answer him then. Thanks

And pastor professor is there.

I thought interest rate is raised when the economy is booming, is our economy booming?

lalasticlala:


https://nairametrics.com/2022/05/24/cbns-monetary-policy-committee-raises-interest-rate-to-13/?amp=1

The idiot called Emefiele is the main reason this country is broke now... May his generation suffer it more than any Nigerian!

Built2last:
How in heaven's name can you have MPR of double digit and expect the economy to grow.

How can small businesses borrow and pay back with such ridiculous base rate.

We have a dumb Bleep running our monetary policy in CBN.

A clueless nincompoop running our fiscal policy in Ministry of finance

A commander in chief with no clue of what should be done.

No wonder we have been on downward spiral.

TUEH

/
When I tell you that education in Nigeria is useless, some doubt. Emefiele is using Western style economic principles to run Nigeria. Raising interest rate can curb inflation in a stable economy but Nigeria is run on voodoo economics. If only we can learn to tailor our education to local contents, Nigeria would be better.

/

baralatie:

Does.not.work.the way you have put it

Increase in interest rate means increase in the cost of borrowing
It also means people will spend less to purchase goods and services
That can lead to a cooling down of your economic growth.
I understand that emiefele wants to bring down inflation but if the nation is finding it difficult to produce.
Money will be pursuing less goods

.

This below is bound to happen because of the level of inflation.
because no one is saving anymore.
For how long can CBN keep given.
The interest rate is supposed to be increased until an equilibrium is reached that will stop this.
Almost all the bank have been borrowing because the money outside keep chasing fewer goods and the price keep increasing.
Sir,even with low interest rate ,the banks are lending at between 37- 42%.
So it's not about the lending rate here but inflation

@VEHINTOLAR
@Nigerialabalaba
@yankee101