It's like every month I have to go and fight them to remind them that they have not paid me interest on my fixed deposit then they apologise and say it's a computer glitch. Then they will take like 3 weeks to eventually pay it but I have grown tired of just going in there to fight them every month , I have just left them alone and just wTching them and for 4 months now they have not paid the interest. I set it up to be paid monthly . That's Nigeria for you, even the banking get K leg
nlfpmod Myndd44 farano RoyalRoy

You yourself be mumu, get a lawyer and serve them a warning letter.

When it comes to such officially agreement, you don't continue going there to argue or fight with them, once you've done that like first and second time, the third should be a legal notice with stern warning, that if such happened again, and they continue to claim glitch, they will be sued.

They even already gave you a reason you can use against them, and a reason court might ask them to compensate you.

sukkot:
It's like every month I have to go and fight them to remind them that they have not paid me interest on my fixed deposit then they apologise and say it's a computer glitch. Then they will take like 3 weeks to eventually pay it but I have grown tired of just going in there to fight them every month , I have just left them alone and just wTching them and for 4 months now they have not paid the interest. I set it up to be paid monthly . That's Nigeria for you, even the banking get K leg

What percentage is the interest first bank gives.??
I dont do fixed deposit anymore cos of emergency, since i found out i still get 5.0-5.3% on the money in my savings account anyway...

Please go and complain to the bank and not here.

advanceDNA:


What percentage is the interest first bank gives.??
I dont do fixed deposit anymore cos of emergency, since i found out i still get 5.0-5.3% on the money in my savings account anyway...

it's not even a great percentage . Like 4 percent

sofeo:
You yourself be mumu, get a lawyer and serve them a warning letter.

When it comes to such officially agreement, you don't continue going there to argue or fight with them, once you've done that like first and second time, the third should be a legal notice with stern warning, that if such happened again, and they continue to claim glitch, they will be sued.

They even already gave you a reason you can use against them, and a reason court might ask them to compensate you.

yeye advice . Spend money on lawyer for something I can rectify myself if I get serious with them ?

ignis:
Please go and complain to the bank and not here.

am tired of going there. Make I dey watch them. So long as they keep my principal safe.

sukkot:
it's not even a great percentage . Like 4 percent

Cannu imagine...current intrest rate on savings is greater than their fixed deposit interest...

I get over 5% without fixed deposit...as long as i dont withdraw more 4 times....

If you were to be the debtor now, hell won't hear words.they start threatening you with Bull dogs and courts! Pls stylishly draft a barristers order of warning a d send it to them via email ,and watch them jump up

advanceDNA:


Cannu imagine...current intrest rate on savings is greater than their fixed deposit interest...

I get over 5% without fixed deposit...as long as i dont withdraw more 4 times....

zenith bank once you withdraw more than two times no interest for you lol. These banks are a joke. But I have to salute their virtual game . It's on point. Their online presence and things you can do with the Ussd number is greAter than anything you will ever experience in Europe or America. It truly is banking at your fingertips . Gotta give them props for that

gidjah:
If you were to be the debtor now, hell won't hear words.they start threatening you with Bull dogs and courts! Pls stylishly draft a barristers order of warning a d send it to them via email ,and watch them jump up

its a good advice

Terminate and move your funds to another bank. But I thought interested and the principal are added at the end of the tenure??

Solsix:
Terminate and move your funds to another bank. But I thought interested and the principal are added at the end of the tenure??

first bank is an institution that is stable. and i have it setup to rollover monthly and interest paid monthly to another account

Take your funds elsewhere.

First Bank might be strong financially but their service is not the same.

That’s why we have over 20 banks in Nigeria for options

Deoboss:
Take your funds elsewhere.

First Bank might be strong financially but their service is not the same.

That’s why we have over 20 banks in Nigeria for options

what bank do you suggest

https://www.nairaland.com/1912965/mutual-funds/301#123618571 follow this thread and smile later

sukkot:
first bank is an institution that is stable. and i have it setup to rollover monthly and interest paid monthly to another account

Then keep going there on monthly basis.

Withdraw your money and invest in mutual funds with Stanbic, you'll never regret it

sukkot:
It's like every month I have to go and fight them to remind them that they have not paid me interest on my fixed deposit then they apologise and say it's a computer glitch. Then they will take like 3 weeks to eventually pay it but I have grown tired of just going in there to fight them every month , I have just left them alone and just wTching them and for 4 months now they have not paid the interest. I set it up to be paid monthly . That's Nigeria for you, even the banking get K leg
nlfpmod Myndd44 farano RoyalRoy

Why on earth still using fixed deposits at such measly rates when there better instruments out there.

Like some above me have suggested, mutual funds is perhaps the safest investment for now and rates hover 8-10%.

First Bank has theirs fbnquest. .

alezzy13:


Why on earth still using fixed deposits at such measly rates when there better instruments out there.

Like some above me have suggested, mutual funds is perhaps the safest investment for now and rates hover 8-10%.

First Bank has theirs fbnquest. .

i would look into it. thanks

sukkot:
what bank do you suggest

I bank with Sterling and GTB, am very satisfied with their services

Soon, Banks will become like newspapers.

alezzy13:


Why on earth still using fixed deposits at such measly rates when there better instruments out there.

Like some above me have suggested, mutual funds is perhaps the safest investment for now and rates hover 8-10%.

First Bank has theirs fbnquest. .

SFS FUND is doing 11.5%

alezzy13:


Why on earth still using fixed deposits at such measly rates when there better instruments out there.

Like some above me have suggested, mutual funds is perhaps the safest investment for now and rates hover 8-10%.

First Bank has theirs fbnquest. .

Is it possible to lose money if you invest in a mutual fund?

All funds carry some level of risk. With mutual funds, you may lose some or all of the money you invest because the securities held by a fund can go down in value. Dividends or interest payments may also change as market conditions change.

Redoil:

SFS FUND is doing 11.5%

Is it possible to lose money if you invest in a mutual fund?

All funds carry some level of risk. With mutual funds, you may lose some or all of the money you invest because the securities held by a fund can go down in value. Dividends or interest payments may also change as market conditions change.

ask about mutual funds and thank me later...most bankers wont advice you on mutual fund or the money market......simply because the money wont read in their cabal

nonysmith:
ask about mutual funds and thank me later...most bankers wont advice you on mutual fund or the money market......simply because the money wont read in their cabal

Is it possible to lose money if you invest in a mutual fund?

All funds carry some level of risk. With mutual funds, you may lose some or all of the money you invest because the securities held by a fund can go down in value. Dividends or interest payments may also change as market conditions change.

sukkot:
Is it possible to lose money if you invest in a mutual fund?

All funds carry some level of risk. With mutual funds, you may lose some or all of the money you invest because the securities held by a fund can go down in value. Dividends or interest payments may also change as market conditions change.

No investment of course is 100% safe, that's why I said it's risk is minimal.

Particularly for the money markets types (yes there are different kinds) whose base are treasury bills (mainly) and govt bonds etc. For these ones, the risk of losing or depreciation is almost absent &your principal will be intact. In terms of safety you can place it at par with fixed deposit, if not better. However note the yield tends to be low.

The equity-based funds, balanced funds or dollar funds are the ones that come with better yields but higher risk, and yes you might lose some of your principal. Best avoided if you don't have the stomach for it.

There's a thread here dedicated to mutual funds. I've been following and been very useful to me.

The equity based or.

alezzy13:


No investment of course is 100% safe, that's why I said it's risk is minimal.

Particularly for the money markets types (yes there are different kinds) whose base are treasury bills (mainly) and govt bonds etc. For these ones, the risk of losing or depreciation is almost absent &your principal will be intact. In terms of safety you can place it at par with fixed deposit, if not better. However note the yield tends to be low.

The equity-based funds, balanced funds or dollar funds are the ones that come with better yields but higher risk, and yes you might lose some of your principal. Best avoided if you don't have the stomach for it.

There's a thread here dedicated to mutual funds. I've been following and been very useful to me.

The equity based or.

nice one bro but i take zero risks with my principal. i see how easy it is to dupe nigerians now lol. fixed deposit it is