₦airaland Forum

FIDELITY24:
pls house I bank with diamond... can I buy tbills through another diamond bank branch or must it be the branch day I opened my account with?

You can buy through another branch.

It will certainly get worse.

@ op.
You forgot to mention the driving school certificate, which you much attach.
I was captured 2 weeks ago.

FIDELITY24:
Please I need help with this questions about the secondary market. 1) can I buy tbills @ the secondary market anytime or is there any specified date or week like in the primary market. 2)Can I get a 300 day and above tenor in d secondary market, considering d removal of 364 tenor by d CBN. I invested 200K in 182 tenor tbills n it will b maturing on the 1st of Sept, so am goin 2 miss d nxt primary auction.

YES to all your questions.

That's not fair.

manie:
FBN will deduct the total amount you bid for, and credit you with the interest after 48 hours. I got a 14.4% for 91days during the last bid, 500k was deducted from my account and the interest of about 17k was paid on Friday 5th August 2015.

True talk.

Is there any constitutional lawyer in the house?
Please does anyone know how we the citizens of this country can make the federal government scrap FRSC?

I think they should be scrapped because they have become a source of nuisance on the road.
Better still, convert them to yellow fever.

This is not Rx 350. This is Rx 330 (2005/2006). I have one.

You need professional (psychiatrist/psychologist) help and a true friend (rare anyway).

I hope this is not the beginning of the end of MTN in Nigeria.
Though attractive, please be cautious. It appears too good to be true. MTN is a stingy company.

ganilat4:
@Desanta,how do I terminate my NTB and what percentage do the Bank deduct.

Write a letter to your bank telling them you want to terminate your NTB.

I usually terminate at maturity instead of rolling over, so I don't get penalized.

The percentage is not fixed. It depends on the rate you bought it and how long you have held it. The bank will do the calculations and let you know before they ho ahead to terminate.

zamirikpo:
Hi guyz
Are there any issues with getting back our principal. Was discussing with a lady who said she won't advice any one to do TB bcoz they dont payback on time.

Is this true @feelamong and others who have done dis before pls advice.

That's a lie.
There are no issues. You get your money immediately.
l have terminated 2 of my NTB this year and I got my money immediately.

Please house,
when you decide not to rollover your investment, is your money paid into your account on the day of maturity or on the next day after maturity?

Good news.

Now we are talking.

Etfash:
Good evening people.
I have a situation. I completed the Tbills form at First Bank HQ in Ilorin today and made it clear that I was bidding for the Primary market of 16th. My account was however debited today.
Please pros, do I have any reason to worry?

No cause for alarm. It's their normal procedure.

gists:
OK. This is coming from someone that is not a guru in anyway.
I am now seriously considering putting a bit of money in T-bills.
To me it looks like the 91 day option is the best.

At 5.1% quarterly, if i roll over everything for 4 quarters (assuming everything remains equal), that translates to about 22% for the complete 365 day (i.e 5.1 compounded over 4 terms of 91 day tenures). But I still have this feeling that i am missing something.

Except if these rates are PA rates

So, gurus pls shed more light as i am about to pull the trigger.

Rates are PA.
So you actually get 5.1% / 4, for the 91 days tenor.

clino:
Would like to know if anyone is having problems being successful with 6months tenure TB. Everytime I bid for the 6 months tenure TB tru FBN its always not successful and my money is returned back. Just wanA know if anyone has been having similar issues 3 months tenure has always been successful by the way

Same here.
I had to convert mine with FBN to 3 months.

Does anyone know the current fixed deposit rate at first bank?

Rubbish.

nedu666:
first bank of Nigeria gave me 4% on 91 days tenor for treasury bills.is this a mistake or the bank is playing games. they claimed that rates have fallen. is anyone in the house experiencing the same.

Same here.

Internetboy:
I am just getting to know about this TB and have read all the comments on this thread. It is absolutely educative.I have total of 28m in my bank account.I have calculated and get to know that I won't be making use of 15m in the next 6 months.After going through this thread,I have started making proper arrangements to purchase 6 months TB for amount of 15m.I read from this forum that this is a guarantee investment.I need further advise from the gurus in the house.

Good move. Your money is safe in NTB.

tziz:
Pls guys, afta applying for T.Bills and d cash has been debited, do u get an email or anytin frm d bank stating d transaction details??

FBN will send you an email of the transaction details which serves as your certificate.

jonathansui:
Thanks @Desanta for your reply, any idea when the next deadline to submit a bid ? I understand that CBN issues Tbills every fortnight on wednesday.

There is a table for the 4th quarter on page 126.

jonathansui:
Hello House, iv been following this forum for a long while now, iv just been observing and learning from you all. After alot of research i am ready to invest in Tbills . However i reside out of the country. I spoke to my account manager about purchasing Tbills, and he said all i need to do is email him a letter of authorisation and he will forward it to the bank manager. Can anyone verify if this information is accurate.

Thanks

Yes it's that simple with some banks.

R.I.P.

mekaboy:
Assuming i bid for 13% For 182 days and the market closes at 14%. Will i get 13% interest or 14% interest?

You get 13%.

Danfuster:
Hi guys, I just can't help but say how much I admire y'all courage at pushing the limits, I gotta give it to y'all real men and the few women who have truly pushed the pedal to the metal. I'm a car enthusiast tho I've got lots to learn, I swear my girlfriend confessed she felt like punching me in the balls cos I'm always glued to this thread from 0-31.

I think I'm gonna need help choosing my first car after reading this thread, I have a budget of 1.5m...I was gonna settle for a Corolla sport 2006 but reading all you guys been doing with them Germans, I must confess.... I'm tripping. If you would be kind enough to help a brother narrow down his choice, I'd be so grateful.

Thank y'all

Get a 2005 benz C- class.

TBs are far better than FDs in Nigeria going by the present rates per annum.
A TB of 10% for 91 days has an actual yield of 11.1 percent because the interest appears to be paid upfront.
A FD for 3months at 10% has a true value of 9% because of the 10% withholding tax that will be collected from the interest.
Even a non mathematician can easily figure it out. However, it all depends on the disposition of the investor at the end of the day.
I practically live on my interest from TB and I invest my salary.

letsurvey:
Instead of putting in savings put it ib fixed deposit. I think Gtb gives about 5% per month. it changes every time so u will need to get to the bank to know how much the rate is

I wish.
Maybe in our dreams.
If they give just 2.5% per month. I will work just for the intellectual exercise.
Sweetheart, the rates are per annum and not per month.