GonFreecss1:




Treasury bills might have a sweeter rate, but I think Money market has an advantage over Tbills.

GonFreecss1:


Currently, Stanbic Money market fund is at 11.55% per annum. The rate changes daily or weekly, depending on the distribution of the market instruments invested in, and the change in rates of those instruments. Since money market is low risk it focuses on low risk instruments like Treasury bills, Commercial papers, bankers acceptance etc.

Treasury bills might have a sweeter rate, but I think Money market has an advantage over Tbills.

tolajay:
Interesting!

If you may, could you highlight the superior advantages of Money Market over Tbills.

By the way, isn’t Tbills a sub-component (an instrument) of the Money Market?

GonFreecss1:


I will start with it being an open ended fund. Meaning, you can keep adding money easily. You don't have to buy certificate 1, then Tbills certificate 2 etc. You can just add money anytime you like, you can add as low as 5k. Anytime you have any money playing around, you can just add this to the account quickly. And the sweet thing is you can also withdraw your money easily without penalty so far you have allowed your initial amount stay for 1 month.

But the main icing on the cake, the sweetest deal is the compounding. Tbills even if you decide to roll over or compound matures every year or 6 months or 3 months, depending on what you are doing... but money market matures continuously. Stanbic gave theirs 1 month, what this means is your interest from the first month can start compounding to get you new interest. Let's assume the money market rate is 10%, and I put 1.2 million naira. This means I will get 120K after a year, this also means I will get 10K per month, the sweet thing is those 10K i get per month will immediately be rolled over and start compounding too. Also you have advantage more than people waiting to compile their money to 1 million by the end of the year. You can start adding as low as 5K from the beginning of the year and the compounding can keep you ahead.

I hope you all understand?

Remember the rates are lower than Tbills for now, could be higher in the future or be the same, but the flexibility is what is going for it.

GonFreecss1:


I will start with it being an open ended fund. Meaning, you can keep adding money easily. You don't have to buy certificate 1, then Tbills certificate 2 etc. You can just add money anytime you like, you can add as low as 5k. Anytime you have any money playing around, you can just add this to the account quickly. And the sweet thing is you can also withdraw your money easily without penalty so far you have allowed your initial amount stay for 1 month.

But the main icing on the cake, the sweetest deal is the compounding. Tbills even if you decide to roll over or compound matures every year or 6 months or 3 months, depending on what you are doing... but money market matures continuously. Stanbic gave theirs 1 month, what this means is your interest from the first month can start compounding to get you new interest. Let's assume the money market rate is 10%, and I put 1.2 million naira. This means I will get 120K after a year, this also means I will get 10K per month, the sweet thing is those 10K i get per month will immediately be rolled over and start compounding too. Also you have advantage more than people waiting to compile their money to 1 million by the end of the year. You can start adding as low as 5K from the beginning of the year and the compounding can keep you ahead.

I hope you all understand?

Remember the rates are lower than Tbills for now, could be higher in the future or be the same, but the flexibility is what is going for it.

NL1960:


Nice insights.

Money Market is a nice way to start small and gradually build up your funds for TBs.

Nnamz:


Please read previous pages. Like for real it would have been easier for me to just give you a direct answer to your question, but tomorrow you would still have another question, and the day after and that after. Do yourself a favour and equip yourself with the necessary knowledge by reading previous pages, for your own good. It would help you make the best decisions on how to use your hard earned money. Best.

dipoolowoo:
CBN Raises One-Year T-Bills Rate to 14.40% at Primary Market
https://www.businesspost.ng/2018/11/01/cbn-raises-one-year-t-bills-rate-to-14-40-at-primary-market/

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oluwadamilolah:
Please help. When am I suppose to be debited cos I submitted my t-bill form last week and the gtb lady said auction was yesterday .

strategist007:
follow all these banks on twitter and mention a problem... after they follow you,u can then dm them continously for rates or whatever and they must respond.. it has never failed for me with any bank or big brand

lancee:
Anybody debited at any rate ..Gtb, stanbic


Thanks

LadyBeee:
but this post was created since 2012. You don't expect me to start reading from the scratch. So many things must have changed

Grupo:


You will be debited before the end of today if the bid was successful.

Magnetron:

I've been debited. About 13.2% for 364days tenor, Gtb.
Fair?

oluwadamilolah:
thanks, I've been debited now.

Magnetron:

I've been debited. About 13.2% for 364days tenor, Gtb.
Fair?

lancee:



Got debited as well..be like say gtb was caught unaware they bidded low ..my cal approx 13.4% for 364%

Was expecting atleast 14 % for 364 dys

yinkaoke:
Hello house,

Please does anyone know about investing in any of the micro finance bank for Fixed deposit; I got their rate guide today and its so high and tempting, I need to know if theirs any risk associated with investing with them.

there rates are 15%, 17% and 18% for fund in the range of N1M - N9M for 90,180, 270 & 360days.

Please any one ever placed funds with them

yinkaoke:
Hello house,

Please does anyone know about investing in any of the micro finance bank for Fixed deposit; I got their rate guide today and its so high and tempting, I need to know if theirs any risk associated with investing with them.

there rates are 15%, 17% and 18% for fund in the range of N1M - N9M for 90,180, 270 & 360days.

Please any one ever placed funds with them

cmoney22222:
just got debited for stanbic.. They didnt disappoint with good rate.. I guess they did 14+ on 364day. Make i go chop pizza first

yinkaoke:
Hello house,

Please does anyone know about investing in any of the micro finance bank for Fixed deposit; I got their rate guide today and its so high and tempting, I need to know if theirs any risk associated with investing with them.

there rates are 15%, 17% and 18% for fund in the range of N1M - N9M for 90,180, 270 & 360days.

Please any one ever placed funds with them

cmoney22222:
just got debited for stanbic.. They didnt disappoint with good rate.. I guess they did 14+ on 364day. Make i go chop pizza first