C505:
Hello house. Can someo knowledgeable explain this?

I've been doing target savings with gtb and this is the 3rd month with zero interest. I've also read here people say target savings is more better than t bills for now cos of their interest.

Does it appear gtb don't issue interests on t. Savings or what?

If you are running a normal savings account you are entitled to interest if the Debit transaction on the savings account is Not more than 3times.

If am correct your target savings account should be different from your savings account.

If the fund in your target savings account is different from the one in your normal savings account then I think you are entitled to interest since you don’t withdraw from the target savings account.

damilola1978:
Does this include transfer charge debit? Of just the actual transaction like 3 debit transfers from an account.

Not so sure. You can call your bank to confirm

C505:


Do you mean from the savings account the money is deducted from or the target savings itself?

the target savings

Dsticks47:

If you are running a normal savings account you are entitled to interest if the Debit transaction on the savings account is Not more than 3times.

If am correct your target savings account should be different from your savings account.

If the fund in your target savings account is different from the one in your normal savings account then I think you are entitled to interest since you don’t withdraw from the target savings account.

Exactly bro. Never touched the target savings. Except of course I'm supposed to be entitled to interest based on the transaction from my debit account.

Maybe I should contact my ACC MGR

tipzy001:
the target savings

Just spoke with my ACC MGR and she said the interest is not visible but it's accruing at the bank end. Just as much as I understand not to liquidate before the target period, then I should get it all at the end of the end

Malapropism

C505:


Just spoke with my ACC MGR and she said the interest is not visible but it's accruing at the bank end. Just as much as I understand not to liquidate before the target period, then I should get it all at the end of the end

Malapropism

Fair enough, would have been nice if you know your interest you'll be getting though. It's for a year, right?

tipzy001:
Fair enough, would have been nice if you know your interest you'll be getting though. It's for a year, right?

Yes... A year.

Quoting you, I agree about knowing the interest that one will be getting albeit it's not an investment perse. Just using it to save up for rent and my assurance policy so whatever interest I get at the end, it's super ok by me.

At least I know it's the bank that'll be responsible for my beer money for the calendar year.

C505:


Yes... A year.

Quoting you, I agree about knowing the interest that one will be getting albeit it's not an investment perse. Just using it to save up for rent and my assurance policy so whatever interest I get at the end, it's super ok by me.

At least I know it's the bank that'll be responsible for my beer money for the calendar year.

As a sales guy I still have to tell you what I sell.
Make some findings on ziing and zplan.
It’s powered by investment one and you get 10% on target account.

Has anyone bought dollar of recent?

What’s the current rate?

I still bought yesterday at NGN404 from a BDC.

However, this evening I just saw this news from CBN

https://businessday.ng/lead-story/article/cbn-suspends-fx-sales-to-bdcs-till-further-notice/amp/?__twitter_impression=true

Going by this, I can almost tell that by tomorrow the price will most likely have gone higher.

tomtom370:
Has anyone bought dollar of recent?

What’s the current rate?

If there is anything I have learnt from all the occurrences playing out in our Economy - It is that "Delay is Dangerous" - when you see signs or trends intimating of an event that is likely to occur, seize the moment and dont look back.

As at last week in January, dollar was still going for 359/360 - All of a sudden, it just skyrocketed to 378 and now boys are hustling to even buy it at 404.

For those who took the decision to quickly divert their savings into Eurobond when the tell tale signs were not so loud, I say congratulations to us all. For every dollar you purchased at #360, you just made a clean gain of #40 and even if you do not intend converting back to Naira, be happy knowing that you preserved the purchasing power of your money.

speak2lift:
If there is anything I have learnt from all the occurrences playing out in our Economy - It is that "Delay is Dangerous" - when you see signs or trends intimating of an event that is likely to occur, seize the moment and dont look back.

As at last week in January, dollar was still going for 359/360 - All of a sudden, it just skyrocketed to 378 and now boys are hustling to even buy it at 404.

For those who took the decision to quickly divert their savings into Eurobond when the tell tale signs were not so loud, I say congratulations to us all. For every dollar you purchased at #360, you just made a clean gain of #40 and even if you do not intend converting back to Naira, be happy knowing that you preserved the purchasing power of your money.

speak2lift:
If there is anything I have learnt from all the occurrences playing out in our Economy - It is that "Delay is Dangerous" - when you see signs or trends intimating of an event that is likely to occur, seize the moment and dont look back.

As at last week in January, dollar was still going for 359/360 - All of a sudden, it just skyrocketed to 378 and now boys are hustling to even buy it at 404.

For those who took the decision to quickly divert their savings into Eurobond when the tell tale signs were not so loud, I say congratulations to us all. For every dollar you purchased at #360, you just made a clean gain of #40 and even if you do not intend converting back to Naira, be happy knowing that you preserved the purchasing power of your money.

their is notting i no talk on the need to to hold some dollars

Yea. You actually did. I am feeling so happy with myself right now even though I am still wishing I did way more...but with the one I was able to do, i still give glory to God.


To make matters worse, CBN has now stylishly made investing in dollar denominated funds extremely difficult.

I got repeated messages from Stanbic Asset Mgt Team just last week stating that the minimum inflow they will now accept is USD20,000 and secondly funds originating from cash deposit into ones dorm account wont be accepted anymore. Meaning that even if you are able to get your BDC to deposit dollar into your dorm acct and you attempt to transfer to them via your bank, they wont accept it. The inflow must strictly be from electronic transfer from your BDC(talk about Camel passing through the eye of a needle)


United Capital is also affected by the Cash deposit policy by CBN - although their minimum inflow amount hasnt changed - they are also bound by the restriction on Cash deposit.

We have got to brace up peeps - I see more policies coming out from CBN in the next couple of weeks. God save us in these times

ahiboilandgas:
their is notting i no talk on the need to to hold some dollars

I bought N370 last week though not much but the value has climbed with N170k profit compared to the current sale rate if i sell now.
I can still source at N370 but it takes a lot time.

Find individuals that may want to remit money to naija, if you can buy $ 100k @N370, in six months from now na N5m profit.

tomtom370:
Has anyone bought dollar of recent?

What’s the current rate?

390

Can anyone Zelle money to me, I urgently need $300 @380/#? I will send you Naira in Nigeria.

Thanks!

Got a 399/$ offer on Wednesday but I didn’t take it. Only to realize it was sold for 405/$ on Thursday.

Had to buy at 400/$, knowing it’ll still go up in coming weeks.

TotoNaRubber:
I bought N370 last week though not much but the value has climbed with N170k profit compared to the current sale rate if i sell now.
I can still source at N370 but it takes a lot time.

Find individuals that may want to remit money to naija, if you can buy $ 100k @N370, in six months from now na N5m profit.

speak2lift:
I still bought yesterday at NGN404 from a BDC.

However, this evening I just saw this news from CBN

https://businessday.ng/lead-story/article/cbn-suspends-fx-sales-to-bdcs-till-further-notice/amp/?__twitter_impression=true

Going by this, I can almost tell that by tomorrow the price will most likely have gone higher.

Please inform me when you see at this rate.

presiade:
Can anyone Zelle money to me, I urgently need $300 @380/#? I will send you Naira in Nigeria.

United Capital never accepted cash deposit, way before any directive from the CBN.

Perhaps, the CBN says the directive isn’t as you explained...Maybe the banks are just the ones making it up. I’ll be testing the directive with some funds soon.

At $20,000 minimum inflow, Stanbic isn’t giving small portfolio investors much of a choice.

The system is rigged against the low and average citizen.

speak2lift:
Yea. You actually did. I am feeling so happy with myself right now even though I am still wishing I did way more...but with the one I was able to do, i still give glory to God.


To make matters worse, CBN has now stylishly made investing in dollar denominated funds extremely difficult.

I got repeated messages from Stanbic Asset Mgt Team just last week stating that the minimum inflow they will now accept is USD20,000 and secondly funds originating from cash deposit into ones dorm account wont be accepted anymore. Meaning that even if you are able to get your BDC to deposit dollar into your dorm acct and you attempt to transfer to them via your bank, they wont accept it. The inflow must strictly be from electronic transfer from your BDC(talk about Camel passing through the eye of a needle)


United Capital is also affected by the Cash deposit policy by CBN - although their minimum inflow amount hasnt changed - they are also bound by the restriction on Cash deposit.

We have got to brace up peeps - I see more policies coming out from CBN in the next couple of weeks. God save us in these times

Well, rate in the US cannot be compared with what you will get back at home

tomtom370:
Please inform me when you see at this rate.

Logically true!

Any way, I’ll be interested.

presiade:
Well, rate in the US cannot be compared with what you will get back at home

Na lie, you said we should not hold it

ahiboilandgas:
their is notting i no talk on the need to to hold some dollars

A BDC guy is offering @ N385 this morning, do you think it’s a good buy?



[/quote]

TotoNaRubber:
I bought N370 last week though not much but the value has climbed with N170k profit compared to the current sale rate if i sell now.
I can still source at N370 but it takes a lot time.

Find individuals that may want to remit money to naija, if you can buy $ 100k @N370, in six months from now na N5m profit.

Pascopele:
Na lie, you said we should not hold it

i refuse to discus or drag into una ashawo/pimping thread after una try to drag me there with mentions now u jump here again to ambush my post .....the only advice i have for u is ....patronising ashawo or pimping service is not a Good investment strategy

Yes. What’s his number oh!? The Bdc guy that’s selling at 385.

spriteB:
A BDC guy is offering @ N385 this morning, do you think it’s a good buy?



I bought N370 last week though not much but the value has climbed with N170k profit compared to the current sale rate if i sell now.
I can still source at N370 but it takes a lot time.

Find individuals that may want to remit money to naija, if you can buy $ 100k @N370, in six months from now na N5m profit.

pls buy if u have a secured place to key....i currently have zero naira , i stop banking ....everthing is either dollars,pounds and asset that i can increase their cost too....

and bids continuesly fail ....na to buy dollars and wait for devalution which we know it must happen just time ...most of the tb capital is gotten from other life sustaining activity....example if u stop me from investing in tb ....i still have a fleet of tankers and rental income so am not willing to start new ventures i will hold my capital dollars ....and use my income from tanker to live ......the cbn governor is offically mad....a worker in an mnc with 10m in tb and earns a salary of 500k monthly will not stop tb and remove his 10m and start a bussiness cos he got no time .....so he will put the funds in dollars untouched and live on 500k

That my last year post

The advice is for persons holding over 10 k dollars and above 3.6m or 10k dollars to help conserve your sweat ...Dangote has open an office in new york for this to move some wealth there for protection and a system design to keep Africans poor....the us can print dollars while we cant and our value is based on what some else can print .....while we can print baira too but the Americans dont need your naira for anything ....even the once coming to naira zone will spend dollars comfortably in Nigeria

Many of my friends that left for America in 2015 dont have 200k dollars liquid cash or saving or any where but the Nigeria hustler that trade his way to having 200k dollars (40m) in 2012 is suddenly told he now has 120k dollars (40m ) 2016 without commiting any crime while the American with 200k dollars is now a mulitmillionare at 80m naira

Yes you can buy it, it's not bad

spriteB:
A BDC guy is offering @ N385 this morning, do you think it’s a good buy?



I bought N370 last week though not much but the value has climbed with N170k profit compared to the current sale rate if i sell now.
I can still source at N370 but it takes a lot time.

Find individuals that may want to remit money to naija, if you can buy $ 100k @N370, in six months from now na N5m profit.