₦airaland Forum

Mills55:
Please who have idea of the bank that has the best secondary rate today. Am investing tomorrow. First Bank rate is not really encouraging anymore.

Best rates we have seen this week have been from Fidelity (up to 13%), Stanbic (up to 13%) and UBA (up to 12.95%). GTB (up to 12.5%) and I-Invest app (up to 12.7%, but paid at maturity) come close 2nd: https://comparedbest.com/ng/best-nigerian-treasury-bill-rates.html

essence1:
Good morning house please can someone answer this? Thanks

Best rates we have seen this week have been from Fidelity (up to 13%), Stanbic (up to 13%) and UBA (up to 12.95%). GTB (up to 12.5%) and I-Invest app (up to 12.7%, but paid at maturity) come close 2nd: https://comparedbest.com/ng/best-nigerian-treasury-bill-rates.html

Sholapey:
Did you invest in primary or secondary market?

He states "(primary @14.9%)" in his post

Omonigeriarere:
It seems that STANBIC IBTC has the best rates among Nigerian Banks. Don't know how friendly they are to customers' instructions though.

Yesterday at least, Fidelity beat Stanbic for tenors closest to 364 days with rates including 13% for 360 days, 12.6% for 290 days and 12.5% for 332 days: https://comparedbest.com/ng/best-nigerian-treasury-bill-rates.html

Ogonsbaba:
Please, who's aware about the next treasury bills auction date?
Thanks in anticipation!

Next Wednesday, 11th September 2019. Try to place bids by Monday 9th.

ibkonekt:
a question please...this true yield of a thing...does it apply to secondary market as well, or is it exclusive to primary market

To both, in short.

As the tbills concept we think you are referring to, it applies especially wherever interest is paid upfront. And helps you compare to other investments where interest is paid at maturity; such as fixed deposits or I-Invest apps tbills investments.

proeast:
Do you have info on other banks like gtbank or zenith??
Again, does it mean that stanbic IBTC does not offer 91 days tenor or anyone close to it?

Yes, secondary market rates for other Nigerian commercial banks can be found on https://comparedbest.com/ng/best-nigerian-treasury-bill-rates.html or https://comparedbest.com/ng/nigerian-commercial-banks.html

Tenors for Stanbic tbills fluctuate daily, if not hourly. On that day, they were not advertising any close to 91days. But they might on Monday; it’s not predictable.

zamirikpo:
I tot rates got to 13% last week......why is it going down. Anyways let me wait to see what the secondary market would offer.

Stanbic had at least up to 13.95% last week. The best secondary market rates we have seen today is either

13.4% for 56 days from Sterling/I-Invest app https://comparedbest.com/ng/sterling-bank-nigeria.html or
12.4% for 350 days from Stanbic https://comparedbest.com/ng/stanbic-ibtc-bank-nigeria.html

So, primary market wins today, especially considering True Yield when comparing to I-Invest app maturity rates.

opydan:
Thanks sir, so it has nothing to do with my bank.

Also, l heard that some bank like 1st bank are doing short term (like 30, 60 days) fixed deposit. Did anyone know anything about this.

Thanks

Yes, most commercial banks do 30, 60 and 90 days. Some, e.g. Stanbic IBTC, also do 120, 150, 180, 360/365 etc. You can see some rates by following the links on https://comparedbest.com/ng/nigerian-commercial-banks.html

The best rates are also summarised on https://comparedbest.com/ng/best-nigerian-fixed-deposit-rates.html

Dunkofia20:
Guys pls last auction rate is what for 90 and 180 days ?

91 days - 9.7%
182 days - 11.3%
364 days - 12%

Just2endowed2:
Can someone give me idea of secondary rate for today

see our post just above...

Tonygate:
Pls any secondary rate for yesterday

Best we saw yesterday are:
Up to 13.7% (121 days) paid at maturity on Sterling bank partnered I-Invest app - https://comparedbest.com/ng/sterling-bank-nigeria.html
Up to 12% (178 days) upfront at Union bank - https://comparedbest.com/ng/union-bank-nigeria.html

However, the best might stills be found elsewhere; as recently as Friday we saw:
up to 13.7% (111 days) upfront at Stanbic - https://comparedbest.com/ng/stanbic-ibtc-bank-nigeria.html
and, up to 12.4% (356 days) upfront at UBA - https://comparedbest.com/ng/uba-nigeria.html

Full outline of most recent rates we have seen - https://comparedbest.com/ng/best-nigerian-treasury-bill-rates.html

shulamitewoman:
Pls wen is the next bid date.. I missed the last one

28th August, next week Wednesday.

multibalotel:
drop d website

https://comparedbest.com/

mimini:
Please house, I did secondary rate with gtb yesterday, but I ve still not been debited and my interest has not been credited into my account. This is my first time. Is this how its done? I thought the interest is supposed to come in immediately.

Secondary market transactions are typically same day. You should speak with your contact or the bank asap to sort this out.

billtommy:
What time of the day do you update the daily rates on your website?

It will do more good if it can be gotten around 1pm everyday. It would drive more traffic to your website while you save investors of the daily hassle of jumping from one bank to the other...looking for the best rate.

Thanks for taking an interest, sir! That's the ideal we are working towards.

However, consider this; rates vary but the bank giving the best rate in a week typically remains the same. So, whilst the site currently does not tell you which tenor will work best for you today, it can usually reduce your trip or call to one bank.

For now, we update it on the day, ready for investors with multiple accounts to look up which bank is currently giving the best rates the next day. For example, this week it is Stanbic. Some weeks it is UBA, or GTB, or Union, or FCMB, or Fidelity, or Wema or the Sterling partnered I-Invest app etc. Maybe even inspire some to open new accounts.

The site also gives you details new folks ask here aplenty:
minimum amount each bank allows for Tbills primary/secondary market
Deductions from your upfront interest
Channels allowed to place a request
Early termination notice required and costs

It is also more than Tbills. For investors who dabble into Fixed Deposits and Money Market Funds affiliated with commercial banks, we track rates & some features. We compare these, noting that rates can be better with Treasury Bills, but MMFs can be better for those with less than N100k to start.

One day we may have these rates before 1pm, one day realtime. Before then...Nigerians work really really hard, and are time poor. Any time we can save will be its own reward: https://comparedbest.com/ng/

needful:
This is a very good rate. Why are other banks having watery rate.

Most are increasing by 1-3%pts from just 2weeks ago, before the last Primary Market Auction. They seem to believe the rates will rise.

A more informed financial analyst than us might know if there has been more activity in the Equity market or if Foreign Investment has been leaving our shores seeking safer havens with all this talk of global recession looming.

amjustme2:
Do you have info on FBN rate for today?

No, unfortunately. Last Saturday, they had 10.2% for 131 days (vs 9.7% for 91 days or 11.35% for 182 days in the last Primary Market Auction).

jayjay1512:
@comparedbest what's the interest for banks today and which bank has d best rate

Stanbic IBTC, today: 13.7% (128 days), 13.65% (247 days), and 13.95% (191 days). Sorry for the delay.

Afeezoladapo:
Pls, do u get to know of the rates without investing in d first place?

Yes, you can find out the rates the bank will bid for in the Primary market and the rates before you invest in the Secondary market. What you don't know in advance is if your primary bid will be successful (equal or lower than the CBN marginal/stop rate), or not.

mimini:
Is there TBill rate for 1 year from Stanbic IBTC?

Not yesterday. The longest tenure we saw was 259 days. The best, most recent rates for tenures close to 364 days we have seen were from Zenith (12% for 344 days on 14th Aug) and Wema (10.7% for 349 days today).

Right time to invest?

Secondary market rates across commercial banks have risen in the last few days. Some rates we have seen:

https://comparedbest.com/ng/stanbic-ibtc-bank-nigeria.html
Stanbic IBTC (today) 12.8% for 175 days
Stanbic IBTC (today) 12.7% for 49 days
Stanbic IBTC (today) 12.25% for 259 days

https://comparedbest.com/ng/zenith-bank-nigeria.html
Zenith (yesterday) 12% for 344 days

More commercial banks tbills rates ranked top-to-bottom: https://comparedbest.com/ng/best-nigerian-treasury-bill-rates.html

Even Fixed Deposits are looking up...Ecobank has rates starting from 10.25% for less than a million Naira: https://comparedbest.com/ng/ecobank-nigeria.html .


Or wait for even more rate rises? What do you think...

enque:
Secondary rates vary per bank unlike primary rates, so if u need to do a comparism U may need to visit as many banks to get their secondary rates.

We try to do this comparism on this page: https://comparedbest.com/ng/best-nigerian-treasury-bill-rates.html . Secondary rates for today include Stanbic IBTCs 12.8% for 75 days. Yesterday, Zenith had 12% for 344 days.

Ibk2020:
pls I need answer

Not sure what the latest primary rates are for this week's auction. But, secondary market rates are rising. Stanbic currently has the best rates we have seen including 12.8% for 175days tbills. We rank tbills rates for various commercial banks on this page: https://comparedbest.com/ng/best-nigerian-treasury-bill-rates.html.

oliverdon:
Tb as today,91 days is 9.5% for gtb,very terrible experience,others can share today tb

This is surprising...Secondary market rates are rising, for example, Stanbic's rates today were: 49days @12.7%, 175days @12.8% and 259days @12.25%: https://comparedbest.com/ng/stanbic-ibtc-bank-nigeria.html . And the same trend in other banks: https://comparedbest.com/ng/best-nigerian-treasury-bill-rates.html

Onyi2728:
Meanwhile. this is the rate from Access bank as of yesterday. Does anyone knows which bank has something better. I also email zenith bank, awaiting their rates as well.


TENOR MATURITY RATE
73 DAYS October 03, 2019 8.50%
94 DAYS October 24, 2019 9.00%
178 DAYS January 16, 2020 10.00%
206 DAYS February 13, 2020 10.35%
227 DAYS March 05, 2020 10.75%

Most banks seem to have reduced their top rate to 10.75% max; you can find up to 11.75% in the I-Invest app. However, if you are looking for longer tenures:

Unity has 10.75% for tenures close to 364days
UBA had 10.7% for 364 days on 18th July, just after the last auction
Wema has 10.5% for 323 days today, 24th July
UBA had 10.5% for 315 days on 18th July

We don't have rates for Fidelity, FCMB or GTB after the last primary market auction, but they often have very competitive rates. We do have today's rates for Zenith, ranging from 8% to 10%.

We have only talked about tenors close to 364days above, find these and more here: http://comparedbest.com/ng/best-nigerian-treasury-bill-rates.html

Magnifico2000:
I have searched thoroughly but still can't see it. Please kindly mention me on the risks attached to it. Or refer me to the link

See Barrytone's negative experience: https://www.nairaland.com/878880/treasury-bills-nigeria/732#76905799 . This is the only negative one we remember, and there have been a number of positive experience. However, it highlights one risk as you have requested.

Magnifico2000:
Lol.. I got ur sarcasm. Please can u explain how the I-invest app works. Where would the principal go, and where is the interest coming from.

Likely reinvested into treasury bills and they are taking a margin off your investment by giving you the returns at maturity, not upfront. For example, we worked out that the 12.55% interest they offer at maturity works out as 11.15-11.16% upfront.

Please see their own words in the FAQ section at the bottom of this page: https://i-investng.com/

Magnifico2000:
The rates have really gone down. Can I get a rate of say 13-14% for 90 to 180 days?

Depends on the market, your bank and whether you want interest upfront. Last primary market auction rates ranged from 10.5% for 91 days to 11.91% for 364 days: https://www.cbn.gov.ng/rates/GovtSecurities.asp .

In the secondary market you can get from 8.5 - 11.85% if you want upfront interest, but up to 12.55% if you can tolerate the awful, heart wrenching spectacle of getting interest at maturity using the I-Invest app : http://comparedbest.com/ng/best-nigerian-treasury-bill-rates.html

That last part was sarcastic...We have worked out that 12.55% at maturity equates to about 11.15-11.16% interest upfront.

Itziykelly:
pls how much percent interest will 100k investment yiel?

Depends on the tenor you choose. There are 8 currently ranging between 64 and 274 days. The rates also range from 10 to 12%per annum. More information and specifics can be gotten by downloading the app or visiting http://comparedbest.com/ng/sterling-bank-nigeria.html . Note that unlike treasury bills, you get your "interest" at maturity.

Akerewe:
Good morning great investors,
Pls what are d stop rates for secondary market in stanbic & gt bank today

This is one day late, but the rates for Stanbic yesterday were: 59 days @ 10.4%, 122 days @ 10.8%, and 241 days @ 11.5%. For more information, or to get recent secondary market rates for other commercial banks see http://comparedbest.com/ng/best-nigerian-treasury-bill-rates.html or http://comparedbest.com/ng/nigerian-commercial-banks.html .

nwolisar:
I was amazed at their secondary rates too as at last week, however funds were not liquid then, else I would have locked in.
Is it likely for rates to gain for this Wednesday's auction?

Very little hope sir. As you likely know, the rates have been trending downwards. However, if you are looking for tenors close to 91 days, many banks have secondary market rates that beat the recent primary auction rates for 91 day tbills: http://comparedbest.com/ng/best-nigerian-treasury-bill-rates.html .