poposki33:


For him to be able to buy all those things, then he should have invested a very large amount, but it is very unwise/scarry of him instead of going into the real sector that would have fetch him more returns and also create employment for Nigerians

Thanks...may be in the nearest future.

ihedioramma:
I dont understand you sir, one annum is it not 91 days ? . what am asking is that the total profit of #500,000 @13% for 91 days ? .

Hi. I guess you are much clearer now by the detailed illustration, kindly provided above by NL1960.
The 13% offered on 91 day tenor is per annum (for 1 year, i.e 365 days). Technically the interest paid will be roughly 3.25% over the 91 days period.(13% divided by 4, as we have four "91days" in a year.

NL1960:


Shuooooo. This guy, you sabi worry sha. You can substitute the figures into the formula now.

Total Profit = P*T*R / (100 * days in a year)

P = Principal

T = Time/Duration

R = Rate

So:

P = 500,000

T = 182

R = 17

Total Profit = (P*T*R) / (100 * days in a year) = (500,000 * 182 * 17) / (100 * 365) = 1547000000 / 36500 = 42,383.56

am not a guy, a guy is bad sombody . i am a man . Any way thank's so much . #42,383.56 for #500,000 in six months that's not money one year is the best .

Interest = Principal x Rate x remaining_days/364

Tbills have tenors of 91, 182, and 364


meaning, NGN500,000 will yield interest of

500,000 x 13/100 x 91/364 = 16,250

after 91 days at 13%

Agbaletu:

Thanks...may be in the nearest future.

this is one of the reasons why you shouldn't criticize entrepreneurs as it is obvious you are afraid to go into the real sector.
But i think it's high time people began to worry about this high interest rate for the bubble might eventually burst one day because all those interest has to come from somewhere

babakess:
THIS IMAGE SHOWS YOUR WEALTH COMPOUNDING AT 10%....FOR 20 YEARS

I.E (1+0.1)^20 X PRINCIPAL=6.73 X PRINCIPAL after 20years .....(1)

now.....15.82% compounding over the same period .....

(1+0.1582)^20 x PRINCIPAL =18.87 X PRINCIPAL...............(2)

THAT MEANS INCREASING THE INTEREST RATE BY HALF(1.5)......tripled the multiplication factor of our wealth.........each percetage count over the long run AND TBILLS IS safe....Thats[b] Explosion[/b] folks .........no putting into consideration your contribution for the year in form of savings

WHATS YOUR PRINCIPAL TODAY start now and be free in 10years minimum

Stay on the Wealth curve people

poposki33:
this is one of the reasons why you shouldn't criticize entrepreneurs as it is obvious you are afraid to go into the real sector.
But i think it's high time people began to worry about this high interest rate for the bubble might eventually burst one day because all those interest has to come from somewhere

From Investopedia ;
'Government bonds can be issued by national governments as well as lower levels of government. At the national or federal level, these government bonds are known as “sovereign” debt, and are backed by the ability of a nation to tax its citizens and to print currency'.

And the current high rate is as a result of inflation and other factors. Expect a lower rate when the economy recovers from inflation. Our only fear and hope is that Nigeria should continue to be one entity, even during wars government borrows to fight the war effectively, else Treasury bills, treasury notes and treasury bonds still serve as a risk-free financial investment.

Can gurus in the house kindly provide the stop rates for the auction this week.
The info is unusually late to arrive in the forum this time! Where is everybody? May be people are still enjoying the Easter break.

Can Feelamong and other gurus in the house kindly harass their account officers for the figures.
Many thanks.

zamirikpo:


Auctions would be held on the 20th not 19th, but like u said he is already late because his application should be on their table latest today before close of work.

No bro. Auction is on 19th not 20th. Auctions are usually held on wednesdays while the next day, Thursdays are settlement days.
In view of this, the auction already took place yesterday. Today is settlement day.

Settlement day for FGN treasury bills is T + 1, while FGN Bonds usually T + 2. FGN Savings Bond usually T+5 days. days are usually working days, excluding weekends and public holidays.

unite4real:


No bro. Auction is on 19th not 20th. Auctions are usually held on wednesdays while the next day, Thursdays are settlement days.
In view of this, the auction already took place yesterday. Today is settlement day.

Settlement day for FGN treasury bills is T + 1, while FGN Bonds usually T + 2

Thanks to Unite4real for the clarification above. Wednesday has always been the day quoted to me as the auction day, by my account officers.
But guys and ladies in the house, why is there no information on the stop rates? Or is there blood on the dance floor?; and is the era of the relatively high TB rates coming to an end? I hope not.
I remember the TBs I did around this time last year were for about 8.5%/ 9.5% (364 day tenor)

babakess:



Stay on the Wealth curve people

Thanks babakess for dropping this, I remember reading this from you originally around 2016.
I also remember you or perhaps someone else mentioned then that as a young person under 35, with I guess 10m or so, one can be a millionaire for life. please if that post was by you, I'd like if you can as well dig it up and put here for some of us to see. God bless you sir.

Houstency:


From Investopedia ;
'Government bonds can be issued by national governments as well as lower levels of government. At the national or federal level, these government bonds are known as “sovereign” debt, and are backed by the ability of a nation to tax its citizens and to print currency'.

And the current high rate is as a result of inflation and other factors. Expect a lower rate when the economy recovers from inflation. Our only fear and hope is that Nigeria should continue to be one entity, even during wars government borrows to fight the war effectively, else Treasury bills, treasury notes and treasury bonds still serve as a risk-free financial investment.

i know it is rational and justifiable for Tbills rate to be above inflation rate

And from the two points you quoted above, you and i knows that they are flaws in the case of Nigeria for our taxation system is nothing to write home about and we can't just be printing money

I think you should go and check about the US 2008 economic meltdown for this was how it started

awesomeJ:

Thanks babakess for dropping this, I remember reading this from you originally around 2016.
I also remember you or perhaps someone else mentioned then that as a young person under 35, with I guess 10m or so, one can be a millionaire for life. please if that post was by you, I'd like if you can as well dig it up and put here for some of us to see. God bless you sir.

IF young and you are 28 for example and u have 3m......u decide to spend uR salary living a more standard life and still be ok. WITHOUT SAVING AGAIN ......

if young can be age 25...lets say 28YRS.....if u stop saving and compound your 3m with a secure investment like ntb.... after 12years when u are 40years old.....twelve years of compounding.....assuming 15.5%

amount= PRINCIPAL *(1+R/100)^12=3,000,000*(1+0.155)^12=16,908,499

after 8 more years making the individual age 48.

AMOUNT=3000,000*(1+0.155)^20=[b]53,550,180

THATS AFTER TWENTY YEARS ...THE ONLY ENEMY TO THAT PROCESS HERE IS INFLATION [/b]WHICH DESTROYS THE VALUE OF UR WEALTH..............BECAUSE [b]53MILLION TODAY WILL NOT HAVE THE SAME VALUE AS 53MILLION 20YEARS FRM NOW ......BUT HEY SOMEONE THAT HAVE THAT KINDA MONEY AINT BROKE ....IT EXPLODES EACH SUBSEQUENT YEAR FRM THEN ...PROVIDED ITS INVESTED WITH ITS INTEREST ALL THROUGH THE PERIOD.

That is a copy of the piece...I posted here last year...Rates were around 15% it's 18%...Even better. Thank u Awesome j. God bless your hustle.

babakess:


IF young and you are 28 for example and u have 3m......u decide to spend uR salary living a more standard life and still be ok. WITHOUT SAVING AGAIN ......

if young can be age 25...lets say 28YRS.....if u stop saving and compound your 3m with a secure investment like ntb.... after 12years when u are 40years old.....twelve years of compounding.....assuming 15.5%

amount= PRINCIPAL *(1+R/100)^12=3,000,000*(1+0.155)^12=16,908,499

after 8 more years making the individual age 48.

AMOUNT=3000,000*(1+0.155)^20=[b]53,550,180

THATS AFTER TWENTY YEARS ...THE ONLY ENEMY TO THAT PROCESS HERE IS INFLATION [/b]WHICH DESTROYS THE VALUE OF UR WEALTH..............BECAUSE [b]53MILLION TODAY WILL NOT HAVE THE SAME VALUE AS 53MILLION 20YEARS FRM NOW ......BUT HEY SOMEONE THAT HAVE THAT KINDA MONEY AINT BROKE ....IT EXPLODES EACH SUBSEQUENT YEAR FRM THEN ...PROVIDED ITS INVESTED WITH ITS INTEREST ALL THROUGH THE PERIOD.

That is a copy of the piece...I posted here last year...Rates were around 15% it's 18%...Even better. Thank u Awesome j. God bless your hustle.

God bless you sir.

I wonder why it is so quiet today; on auction week. Any news please from anyone that submitted application to Stanbic bank for the auction this week.

Zenith debited a friend earlier this evening; 17.25% for 364 days. It is difficult to appraise the rate however without knowing the cbn stop rates.
News about the stop rates will be kindly appreciated please

dejiotus:
I wonder why it is so quiet today; on auction week. Any news please from anyone that submitted application to Stanbic bank for the auction this week.

Zenith debited a friend earlier this evening; 17.25% for 364 days. It is difficult to appraise the rate however without knowing the cbn stop rates.
News about the stop rates will be kindly appreciated please

I have just been debited by Stanbic, and the offered interest rate is roughly 18.54% for 364 days. It seems the rate for the 364 day tenor remains steady at over 18%.

...

GTB and 18.05% for 364 days. they have been giving this irrespective of market outcome. GTB making money from this new rule

babakess:



Stay on the Wealth curve people

Please work one million out for me in ten years ? .

Why am I the only one not credited by FBN almost 24hrs after debit?

[quote author=babakess post=55756325]

IF young and you are 28 for example and u have 3m......u decide to spend uR salary living a more standard life and still be ok. WITHOUT SAVING AGAIN ......

if young can be age 25...lets say 28YRS.....if u stop saving and compound your 3m with a secure investment like ntb.... after 12years when u are 40years old.....twelve years of compounding.....assuming 15.5%

amount= PRINCIPAL *(1+R/100)^12=3,000,000*(1+0.155)^12=16,908,499

after 8 more years making the individual age 48.

AMOUNT=3000,000*(1+0.155)^20=[b]53,550,180

THATS AFTER TWENTY YEARS ...THE ONLY ENEMY TO THAT PROCESS HERE IS INFLATION [/b]WHICH DESTROYS THE VALUE OF UR WEALTH..............BECAUSE [b]53MILLION TODAY WILL NOT HAVE THE SAME VALUE AS 53MILLION 20YEARS FRM NOW ......BUT HEY SOMEONE THAT HAVE THAT KINDA MONEY AINT BROKE ....IT EXPLODES EACH SUBSEQUENT YEAR FRM THEN ...PROVIDED ITS INVESTED WITH ITS INTEREST ALL THROUGH THE PERIOD.
. In what investment ? How please teach o .

X21:
GTB and 18.05% for 364 days. they have been giving this irrespective of market outcome. GTB making money from this new rule

I think I am satisfied with 17% they gave me for 182 days.

amjustme2:
Why am I the only one not credited by FBN almost 24hrs after debit?

Thought I was the only one in this likewise. Presently inside the banking hall though

Please update me on whatever they say. Thanks

torres2:


Thought I was the only one in this likewise. Presently inside the banking hall though

What was the auction rate of on the 20th NTB any idea

Why are bank staffs selfish with TB information.For months now, FBN Asaba ve turned me into volleyball. Forcing me to do fixed against my wish. I really wanna do TB. Dnt know what else to do; no one is willing to help. Confused much. My money has just been wasting away in acct. What to do?

cokiek:
Why are bank staffs selfish with TB information.For months now, FBN Asaba ve turned me into volleyball. Forcing me to do fixed against my wish. I really wanna do TB. Dnt know what else to do; no one is willing to help. Confused much. My money has just been wasting away in acct. What to do?

Is it only FBN that is in Asaba?. Why not go to other banks in Asaba to get TB information?. Abi, dem tie you with rope for that FBN in Asaba?. .

cokiek:
Why are bank staffs selfish with TB information.For months now, FBN Asaba ve turned me into volleyball. Forcing me to do fixed against my wish. I really wanna do TB. Dnt know what else to do; no one is willing to help. Confused much. My money has just been wasting away in acct. What to do?

I had same experience with first Bank. Until I located there head office cos they have about three branch. Locate the head office or they will want to lure you to fix deposit

[quote author=ihedioramma post=55770158][/quote]
I don't understand this calculation , how do you get these figures? my calculation is not near to these figures you posted here after the years. I need a serious break down.

Thanks

cokiek:
Why are bank staffs selfish with TB information.For months now, FBN Asaba ve turned me into volleyball. Forcing me to do fixed against my wish. I really wanna do TB. Dnt know what else to do; no one is willing to help. Confused much. My money has just been wasting away in acct. What to do?

Thanks all. Went to another FBN and got 18% for 62days. Person nor dey know finish. Btw wanted FBN for some reasons. Cheers all

exclusiveoloori:

I don't understand this calculation , how do you get these figures? my calculation is not near to these figures you posted here after the years. I need a serious break down.

Thanks

I hope below helps

A B C D E
yrs principal intrest rate intrest B+D
1 3,000,000 15.5% 465,000.00 3,465,000
2 3,465,000 15.5% 537,075.00 4,002,075
3 4,002,075 15.5% 620,321.63 4,622,397
4 4,622,397 15.5% 716,471.48 5,338,868
5 5,338,868 15.5% 827,524.56 6,166,393
6 6,166,393 15.5% 955,790.86 7,122,184
7 7,122,184 15.5% 1,103,938.45 8,226,122
8 8,226,122 15.5% 1,275,048.90 9,501,171
9 9,501,171 15.5% 1,472,681.48 10,973,852
10 10,973,852 15.5% 1,700,947.11 12,674,799
11 12,674,799 15.5% 1,964,593.92 14,639,393
12 14,639,393 15.5% 2,269,105.98 16,908,499