₦airaland Forum

ajeleomo:
Same here Bro

Interest rate and interest amount recapitalisation are two separate things entirely. However, a little knowledge of mathematics will show that different fund managers adopt different strategies to remain competitive. Think about this, one offers 12% today and puts the interest amount to work quarterly. Another pays interest at 11.5% and puts the interest amount to work weekly. Which of the two approaches would you prefer? You may need to do the math to know which of these two pays higher returns at the end of season. Looking at the interest rate alone will not answer that question. My advice, stick to one that best suits you, there is no point moving fund from one fund manager to another.

ajeleomo:
This is typical with Stanbic for all those who choose reinvestment of profit. They do not do this quarterly but most times weekly. The balance amount remains the same but the inflow amount will increase which will also give rise to the profit value

Bottom line you earn more as your profit is put to work for you much earlier.

micos:
Please people in the house I need your help I am newbie in the T- bill investment . I put in for this month T-bill at stanbic bank with 700000k for 92 days but to my surprised I was debited 681326k remaining 19607k please what is percentage .

Your interest was at about 10.67%

700000 - 681326=18674 (This is your interest)

Formula
(18674/700000) * (91/364) * 100 = 10.6708%

Yem0350:
Type every figure you see including kobo

I advise you stay with stanbic. You don't need to liquidate your holding in stanbic for AXA. The difference doesn't worth it. Secondly the rates fluctuate. It cld be stanbic higher than AXA tmrrow. You can run both by splitting your subsequent stakes or inflows. I have both hence my advice. Hope you find this useful.

jpphilips:
You think it is normal? Really! go to FMDQ and see all of them getting paid at the close of business on your money but you are not allowed to see how your own business closed for the day, you think it is ok!!
What is total accrued interest when I selected specific dates im interested in?
If you do not know what you earned on Monday @ 12%, Tuesday at 11.97%, how are you sure that Total accrued interest is correct, or I should just trust them blindly?
How do you know the specific dates you earned no interest?

AXA has both mobile and web tools for monitoring your investments. In addition, they have good rates on average most of the time. They also handle redemption within 24hrs of request. They are in fact one of the best. Load the mobile app from playstore by searching with MyAXA. Follow the link below for the web tool. However, you have to have requested for online access. Happy investing.
https://www.axamansard.com/myaxa/index.aspx?ir=1

moneywoman74:
Hello House,

Please does anyone here has FBN MMF? I had one with them, but they don't have online app where you can login to your account to see what is going on, Like ARM, Stanbic etc. I only know what's going on to my investment only when i requested for my account statement.

Please does anyone experience this or is there anything that i am not doing well.

You can, like someone else has answered. Once you request for online access the details will be granted including your login information. Details will include the following link:
https://fbnquest.com/capital/who-we-are/?nav=

Engrmathews:
Hi folks,

I am a salary earner and i have saved up 800k. Presently,i put 600k in a diamond account - cant remember the account type- that pays me 2k monthly on it.

I want a proven business idea i can invest in.

Thanks

Check out the Mutual Funds or Treasury bills pages for better advice. Mutual Fund will provide you opportunity to save as little as 10k every month, and you will earn interest on a daily basis on every contribution you make monthly.

Do mutual funds with investment houses such as stanbic asset mgmt, FBN quest, investment-one, etc. Those by insurance firms have more rules, which include none withdrawal or termination until the agreed maturity date, not defaulting on the contribution dates, etc. Violation of any of these screws up (excuse my French) your investment experience with insurance mutual funds biz.

Indeed, OmonnakOda on this topic has repeatedly provided very rich and useful financial advice like he has been paid to provide financial advice on this topic. His submission on age factor and risk has underpinned facts not many people understand about investing. Like others who have advised along his lines of thoughts have equally done justice to this topic. TB in Nigeria as of last year yielded returns up and above 18% at some point. With TB you collect your interest upfront, which makes it attractive. Rates are going down now drastically, unfortunately. However, mutual funds in Nigeria, particularly the ones on Money Market, all of which are also regulated, rides mainly on the back of TB - and with a perk, and they are safe. So consider the age and risk factors to decide on which investment best suits you as advised by OmonnakOda. Happy investing.