aieromon:


I think the bank is rolling out some promo offers.

https://www.accessbankplc.com/Personal-Banking/SAVINGS-INVESTMENT/High-Interest-Deposit-Account.aspx

This raises a lot of questions.

The rate is really high, higher than treasury bills offered by government. The same rates as Commercial Papers.

Where are they investing this money?

It seems something is cooking somewhere.

The minimum capital for them to offer 7 - 8 percent is N50 million, the rate is even poor considering N50 million in 6 months time could lose 10 percent in value with the way things are going.

Most short to medium term investments currently hover around 7 to 9 percent. Double digit interest rate is the only consolation in these inflation times.

Dum20:


This raises a lot of questions.

The rate is really high, higher than treasury bills offered by government. The same rates as Commercial Papers.

Where are they investing this money?

It seems something is cooking somewhere.

TotoNaRubber:
The minimum capital for them to offer 7 - 8 percent is N50 million, the rate is even poor considering N50 million in 6 months time could lose 10 percent in value with the way things are going.

Most short to medium term investments currently hover around 7 to 9 percent. Double digit interest rate is the only consolation in these inflation times.

You are right but the rate they offer is higher than what is obtainable with Treasury Bills.

With the 50 million they are targeting institutional investors.
They are now competing with FG

Re: the bolded below.
Its a bank. They are lending (investing) it by giving out loans at more than double the rates offered for the fixed deposit (FD) as well as earning loan arrangement fees. They are making money from their FD rate offer. In fact, the bank probably already has loan requests it wants to fund but cant because of CBN's minimum CRR - so it has to source the funding by attracting more deposits and in turn offering more attractive deposit rates. Personally, I like the 'no liquidation' condition before maturity - clever bank

Dum20:


This raises a lot of questions.

The rate is really high, higher than treasury bills offered by government. The same rates as Commercial Papers.

Where are they investing this money?

It seems something is cooking somewhere.

Dum20:


This raises a lot of questions.

The rate is really high, higher than treasury bills offered by government. The same rates as Commercial Papers.

Where are they investing this money?

It seems something is cooking somewhere.

Bank deposit rates are supposed to be higher than treasury bills rate. It is an anomaly for banks to offer deposit rates less than treasury bills rate considering treasury bills have zero repayment risk.

skydiver01:
Re: the bolded below.
Its a bank. They are lending (investing) it by giving out loans at more than double the rates offered for the fixed deposit (FD) as well as earning loan arrangement fees. They are making money from their FD rate offer. In fact, the bank probably already has loan requests it wants to fund but cant because of CBN's minimum CRR - so it has to source the funding by attracting more deposits and in turn offering more attractive deposit rates. Personally, I like the 'no liquidation' condition before maturity - clever bank

I understand the fact that they are bank. I think there is a pressing need for funds that is why they are doing this now.

It was in the news that they want to buy stakes in First Guarantee Pensions. Maybe they want to use the funds to do the acquisition.

einsteine:


Bank deposit rates are supposed to be higher than treasury bills rate. It is an anomaly for banks to offer deposit rates less than treasury bills rate considering treasury bills have zero repayment risk.

When TB rates were 18%, FD rates were not more than TB rates.

The banks cannot match that rate.

I guess there is a specific need this bank has that is why it is giving these rates that are higher than TB rates.

Nigeria is useless what's the point of saving or investing for annual interest when the rate of inflation is more than the interest rate??

It will take me 5years for me to earn an extra 1M on my 1m investment but that 2M (1M capital and 1m profit after 5years) might not be able to buy what 1M can buy today.

I regret not buying a particular car in 2019 because the same car after 3years is now 100% more than the price it used to be in 2019.

Seems going into business is the only way to go now

einsteine:


[s]Bank deposit rates are supposed to be higher than treasury bills rate. It is an anomaly for banks to offer deposit rates less than treasury bills rate considering treasury bills have zero repayment risk[/s].

None sense and ingredients. Have you ever done a fixed deposit in Nigeria? Please name a bank that offered you rates higher than treasury bills rate. All these useless NL theorists. Better change that your moniker. You are not fit to use it

Dum20:


I understand the fact that they are bank. I think there is a pressing need for funds that is why they are doing this now.

It was in the news that they want to buy stakes in First Guarantee Pensions. Maybe they want to use the funds to do the acquisition.

And who told you banks use depositors funds to make acquisitions? A whole access bank. You think they can’t afford to buy one tiny pension company with their own cash or shareholders funds? Who are these people on this thread?

Born2conquer:
Nigeria is useless what's the point of saving or investing for annual interest when the rate of inflation is more than the interest rate??

It will take me 5years for me to earn an extra 1M on my 1m investment but that 2M (1M capital and 1m profit after 5years) might not be able to buy what 1M can buy today.

I regret not buying a particular car in 2019 because the same car after 3years is now 100% more than the price it used to be in 2019.

Seems going into business is the only way to go now

Can you hedge against inflation by simply starting a business? I doubt.

My recommendation would be;

1. Stock

2. Real estate (land or properties)

3. Commodities (like crops, raw materials, or anything that does not require frequent servicing with money or maintenance).

Acidosis:


Can you hedge against inflation by simply starting a business? I doubt.

My recommendation would be;

1. Stock

2. Real estate (land or properties)

3. Commodities (like crops, raw materials, or anything that does not require frequent servicing with money or maintenance).

Been in stocks since 2020, presently in loss of around 45%

aieromon:


I think the bank is rolling out some promo offers.

https://www.accessbankplc.com/Personal-Banking/SAVINGS-INVESTMENT/High-Interest-Deposit-Account.aspx

Read the entire page and you will see that you are dreaming if you think Access Bank will give you 7 to 8% interest on fixed deposit. Key word is ‘up to’… with 50m, you won’t get more than 3% …

Dum20:


When TB rates were 18%, FD rates were not more than TB rates.

The banks cannot match that rate.

I guess there is a specific need this bank has that is why it is giving these rates that are higher than TB rates.

In a sane market, nobody would do fixed deposit when FD rates are less than TB rates. That's why theoretically FD rates should be slightly higher than TB rates.

emmanuelewumi:



Be greedy when others are fearful, this is the time to accumulate and average down.

This man! You sure say you no dey hide dey trade crypto? This one you sabi all our terms finish

Born2conquer:

Been in stocks since 2020, presently in loss of around 45%

Sorry man!

Which stocks are they?

Born2conquer:

Been in stocks since 2020, presently in loss of around 45%

TotoNaRubber:
Which stocks are they?

NIO, TESLA, JUMIA, PALANTIR, VAXART, AAPL,

I closed the rest on loss sha

Acidosis:


Sorry man!

E con be like sey make person dey hold hard currency make sense pass

Born2conquer:

E con be like sey make person dey hold hard currency make sense pass

That is why I took my dollars, climbed Mountain Everest to go and hide it there

Born2conquer:

E con be like sey make person dey hold hard currency make sense pass

I totally agree

Tranquility2345:


None sense and ingredients. Have you ever done a fixed deposit in Nigeria? Please name a bank that offered you rates higher than treasury bills rate. All these useless NL theorists. Better change that your moniker. You are not fit to use it

thread killer is here . Lazyyouth ain't you better off in you ashewo thread and BBN . Since you have add a new hobby advising fellow Lazyyouth like you on STD and other .Tranquility2345: 6:16am On Apr 22
If you don’t have money and you are doing redpill, you are just wasting your time because the women really don’t care about your existence.

On the other hand, if you have cash and these babes are all over you to help you blow the money, before falling for temptation do this test. Soapy when the temptation to pedestalize her comes to you. If your eyes clear after the soapy, then you can never fall for her. You are a winner.

If after soapy your eyes no clear and you are still tempted to spend on her and be her simp, then your village people are working over time

Tranquility2345:


And who told you banks use depositors funds to make acquisitions? A whole access bank. You think they can’t afford to buy one tiny pension company with their own cash or shareholders funds? Who are these people on this thread?

nonsense human.omance / Re: Reality Every Guy Need To Know ( STRICTLY REDPILL) ... by Tranquility2345: 4:13pm On Apr 21
PstDapo:
Men, how has taking the red pill changed your life?
It has given me peace of mind
It has given me clarity of mind
It has given me peace of the soul
It has made me accept my own reality (most important one by far)
It made me pursue my OWN goals and purpose over anything else
It gave me freedom
It gave me independence
It gave me a immense reduction of drama in life
It gave me a new perspective on who I am and what my purpose is
It has saved me a lot of money
It has saved me a lot of time
It has rendered me virtually unattainable to disasters such as : STD’s, being cheated on, being manipulated by a loved one, being destroyed by a family court, having an unwanted child, losing a lot of valuable money, time and other resources

#Copied from Quora

They forgot to add one more. The most important of all ‘it has made me a very lonely man addicted to porn and chronic masturbation’

@Munamoqel, why don't you just counter his points instead of bringing comments from another thread here? I've been waiting for a counter argument, if any, just for learning sake.

You are more or less the derailer here.

Macktaob:
@Munamoqel, why don't you just counter his points instead of bringing comments from another thread here? I've been waiting for a counter argument, if any, just for learning sake.

You are more or less the derailer here.

no more free tutorials in capitalism .it blaspheming .

Munamoqel:
thread killer is here . Lazyyouth ain't you better off in you ashewo thread and BBN . Since you have add a new hobby advising fellow Lazyyouth like you on STD and other .Tranquility2345: 6:16am On Apr 22
If you don’t have money and you are doing redpill, you are just wasting your time because the women really don’t care about your existence.

On the other hand, if you have cash and these babes are all over you to help you blow the money, before falling for temptation do this test. Soapy when the temptation to pedestalize her comes to you. If your eyes clear after the soapy, then you can never fall for her. You are a winner.

If after soapy your eyes no clear and you are still tempted to spend on her and be her simp, then your village people are working over time

Ahiboilandgas. Audio billionaire. Tribalistic killer of Igbos. Please why are you mentioning me? You still dey see me for dream after I expose your yansh abi?

You are a very jobless agbaya

Born2conquer:
Nigeria is useless what's the point of saving or investing for annual interest when the rate of inflation is more than the interest rate??

It will take me 5years for me to earn an extra 1M on my 1m investment but that 2M (1M capital and 1m profit after 5years) might not be able to buy what 1M can buy today.

I regret not buying a particular car in 2019 because the same car after 3years is now 100% more than the price it used to be in 2019.

Seems going into business is the only way to go now

Physical business is the best way to go in Nigeria.

OgogoroFreak:
This man! You sure say you no dey hide dey trade crypto? This one you sabi all our terms finish

Sarcasm is decoded by smart people

Born2conquer:

NIO, TESLA, JUMIA, PALANTIR, VAXART, AAPL,

I closed the rest on loss sha

Pls try and set a max limit for loss...
Esp when u are trading US Stocks...
I closed my position once it reach ....
10 percent...
The only one left is VUSA ETF

Willie2015:


Pls try and set a max limit for loss...
Esp when u are trading US Stocks...
I closed my position once it reach ....
10 percent...
The only one left is VUSA ETF

I think I know my problem, I have strategy but I do not like having idle cash. I reinvest profits immediately, I can't hold 200k for 1 week without thinking of where to put it.

When I soks my Tesla for profit, I bought more of JUMIA and NIO even though I knew I should have waited for the dip.

VUSA ETF pays dividend?

Born2conquer:

Been in stocks since 2020, presently in loss of around 45%

You mean your total portfolio in a loss position of 45% or just a single stock.?

Hedgefunds:


You mean your total portfolio in a loss position of 45% or just a single stock.?

Total