man, you are simply great! this is great investment in the lives of those who truly care about thier financial future. but could you explain the various percent and maturity duration for me? I'm trully interested in it and i want to know more on how to place an order on it

RichYoungRuler:
Hi, i guess U meant compound interest.
Lets use N100000 as an example. For 91days tenor at 11% per annum
11% is 11/100 X N100000 =N11000 at d end of a year which is 365days. So per day is
11000/365days.=30.137k per day.
For 91days, your interest will become N30.137k X 91days=N2,742.46k. I hope this helps.

EXCELLENT!

Elar1,feelamong,others,pls calculate this for me or is firstbank trying to scam me again,i did 370,000naira TB for the last bid for 364days at the bank rate but i am sure it will be between 11-13percent. To my surprise today,i was credited with 10,765naira as interest. Is it not suppose to be 40k plus.pls help before i go and vex at their head office,or is it that they do 91days for me intead of 364.

RichYoungRuler:
Hi, i guess U meant compound interest.
Lets use N100000 as an example. For 91days tenor at 11% per annum
11% is 11/100 X N100000 =N11000 at d end of a year which is 365days. So per day is
11000/365days.=30.137k per day.
For 91days, your interest will become N30.137k X 91days=N2,742.46k. I hope this helps.

yes it does thanks a bunch

Tassembly: Elar1,feelamong,others,pls calculate this for me or is firstbank trying to scam me again,i did 370,000naira TB for the last bid for 364days at the bank rate but i am sure it will be between 11-13percent. To my surprise today,i was credited with 10,765naira as interest. Is it not suppose to be 40k plus.pls help before i go and vex at their head office,or is it that they do 91days for me intead of 364.

Going by the interest credited to your account, they must have done 91days owing to the fact that only 91days and 182days tenored bills auctioned at the last market.

_{I hope this brings down ur hot cutlass}

I want to invest, but don't really understand this treasury bills. Can someone please explain to me how it works. If I invest 500k, what's d profit like?
Thanks

Tassembly: Elar1,feelamong,others,pls calculate this for me or is firstbank trying to scam me again,i did 370,000naira TB for the last bid for 364days at the bank rate but i am sure it will be between 11-13percent. To my surprise today,i was credited with 10,765naira as interest. Is it not suppose to be 40k plus.pls help before i go and vex at their head office,or is it that they do 91days for me intead of 364.

As inze rightly suggested, they must have given you 91 days bills as there was no auction for 364 days. If this is the case then you must divide the interest (annual) by 4 to get quarterly (91 days) interest. So 40k+ divided by 4 equals 10k+. Try and demand for your treasury bill certificate so that you can see the actual tenure and interest rate they gave you.

Dr_OBD: I want to invest, but don't really understand this treasury bills. Can someone please explain to me how it works. If I invest 500k, what's d profit like?
Thanks

I will advise you read the posts on this thread from page one. It will really help. For calculation example, see post below:

RichYoungRuler:
Hi, i guess U meant compound interest.
Lets use N100000 as an example. For 91days tenor at 11% per annum
11% is 11/100 X N100000 =N11000 at d end of a year which is 365days. So per day is
11000/365days.=30.137k per day.
For 91days, your interest will become N30.137k X 91days=N2,742.46k. I hope this helps.

Elai147:

As inze rightly suggested, they must have given you 91 days bills as there was no auction for 364 days. If this is the case then you must divide the interest (annual) by 4 to get quarterly (91 days) interest. So 40k+ divided by 4 equals 10k+. Try and demand for your treasury bill certificate so that you can see the actual tenure and interest rate they gave you.

First bank has never given me any certificate. Please how do I get it from them.Any one with practical experience with them will be highly appreciated. Thanks in advance.

Desanta:

First bank has never given me any certificate. Please how do I get it from them.Any one with practical experience with them will be highly appreciated. Thanks in advance.

I use First bank. You must ask for it otherwise they won't give you. Them dey save their papers and printing ink...

Hi house, Is IBTC bank ok to deal with? I understand their FD for 1m is 9.5,though am planning 2 bid for TB readin all did posts

Elai147:

I use First bank. You must ask for it otherwise they won't give you. Them dey save their papers and printing ink...

Is there any use/relevance of this certificate?

Tosinng:


Is there any use/relevance of this certificate?

Yes, for example, if you want to apply for a loan using your treasury bill as collateral the bank may request for it. Some people also include it in their Visa application documents in order for the embassy to ascertain their financial worth especially in the case where their savings accounts are almost empty because they have invested the money in treasury bills. Besides, some certificates contain your treasury bill investment details like your bank account number, invested amount, tenor, interest rate, future value of the investment, effective and maturity date which I think the embassy should be interested in.

adetunrayo: Hi house, Is IBTC bank ok to deal with? I understand their FD for 1m is 9.5,though am planning 2 bid for TB readin all did posts

The bank is okay. But you can get a better interest rate on T-bill which has a zero % risk.

pls, who know the next t-bill date.

ganilat4: pls, who know the next t-bill date.

Bros, its every 2wks. So count two weeks from the last auction.

Thanks Elai147. Am sure goin 2 try TB out when next my FD matures.I guess ve been missing out 4 some time.

someone should check www.advansghana.com, they claim to give 22% interest. the firm is in ghana and they claim to licinsed by The bank of ghana. please tell if its real or fake

Meristem Advised Stop / Bid Rates for tomorrow's auction...

91-Day - NGN22.97bn - 10.55%
182-Day - NGN40.00bn - 11.70%
364-Day - NGN90.00bn - 12.23%

My people how market?
@Elai147 and co dose anyone have an idea of how this week's bid went?

Cheers all.

we are on d look-out

Toya_tc: My people how market?
@Elai147 and co dose anyone have an idea of how this week's bid went?

Cheers all.

91 days --------10.90%

182 days -------12.34%

364 days ------12.59%

I missed this week's auction when is the next one likely to be pls?

freeman67: I missed this week's auction when is the next one likely to be pls?

My bid was successful for the first time i tried it. i got 364 days with two different banks. i used Access and Diamond. I am going to re-invest my profit in the next auction

freeman67: I missed this week's auction when is the next one likely to be pls?

[s]Here's the timetable https://www.nairaland.com/download/1182426[/s] Probably in two weeks.

we thank God for this week auction, oga @feelamong,Thank u very much for the update information.pls can we get the table for the last quarter pls, may GOD ALMIGHTY grace more ur elbow. Thanks.

Good day @Feelamong I will like to know if I can leave the investment there for years just like FD? Or I have to monitor everytime the investment period elapse

fsb: I don tire for GTB. I left my town to travel to another town to find out about how they can buy treasury bills on my behalf from the primary market and after spending about 1 hour being tossed up and down the guy I meet tells me they have not done any treasury bills transactions recently so he doesn't know much about it but that it is common in lagos.

Which kain thing be this?

GTB is a very useless bank.imagine,had a TB that expired today, and wanted them to rebook it for this current auction.I was shocked when I was told it wasn't possible, that the funds have to be in my account savings account before I apply.zenith bank rolls over my investment every 91 days I don't have to wait for 2weeks after my investment matures to have it re-invested.I remember what I went through before they fixed the last one that expired today.after I applied at their branch in my location,I had to call and write their head office before my account was debited like a week after.at a point, a guy at the head office told me CBN had stopped treasury bills.I told him that he should note that he's not dealing with an illiterate.

Please does anyone know of any bank,apart from zenith bank where my investment will be rolled over,kind of,immediately it matures so that I don't have to wait for another 2weeks?

Am loving these @ dan dollar,try stanbic IBTC

efilefun: Good day @Feelamong I will like to know if I can leave the investment there for years just like FD? Or I have to monitor everytime the investment period elapse

why not just do a 364 days Tbill and ask for a rollover once its matured!

dan_dollar: GTB is a very useless bank.imagine,had a TB that expired today, and wanted them to rebook it for this current auction.I was shocked when I was told it wasn't possible, that the funds have to be in my account savings account before I apply.zenith bank rolls over my investment every 91 days I don't have to wait for 2weeks after my investment matures to have it re-invested.I remember what I went through before they fixed the last one that expired today.after I applied at their branch in my location,I had to call and write their head office before my account was debited like a week after.at a point, a guy at the head office told me CBN had stopped treasury bills.I told him that he should note that he's not dealing with an illiterate.

Please does anyone know of any bank,apart from zenith bank where my investment will be rolled over,kind of,immediately it matures so that I don't have to wait for another 2weeks?

bros dem tie you for the bank ni?

why not just take a walk from there??

ganilat4: we thank God for this week auction, oga @feelamong,Thank u very much for the update information.pls can we get the table for the last quarter pls, may GOD ALMIGHTY grace more ur elbow. Thanks.

ok no wahala.. once my people send to me .. i will post on this thread!